Cardano’s Price May Increase 56% by the End of August

When it comes to brand intimacy, Cardano has reportedly fared better than various other cryptocurrencies, as stated in a new report compiled by the MBLM agency.

The degree to which a corporation has emotionally engaged with its consumers and customers is what we mean when we talk about brand intimacy.

It is interesting to note that Cardano achieved the top position in the cryptocurrency sector. And, number 26 overall when compared to other businesses that are not related to cryptocurrency.

This demonstrates the power that the Cardano community possesses as well as the level of cohesiveness that is now present within the community.
In this particular category, ADA has demonstrated significantly better performance than competitors like as BTC and SOL. In addition to this, it seems that the future may hold positive prospects for Charles Hoskinson’s coin.

There is further evidence besides only the report that suggests ADA has a healthy relationship with the people in its neighborhood. In point of fact, if we look at the figure that follows, we can see that there have been some fascinating statistics originating from social interaction and social mentions of ADA in the recent past.
However, that is not the only piece of encouraging news. There has been a significant increase in the amount of activity among developers. This would seem to indicate that developers are putting an a lot of hard work on what appears to be the Vasil hardfork.
Cardano’s market cap and transaction volume, on the other hand, have not been able to survive the current bear market conditions.

In spite of the fact that there was a surge in the volume not too long ago, the general trend of the volume has remained somewhat unchanged. In light of this, the total market capitalization has been falling recently.
Since reaching a new high on August 14, the price has failed to recover as expected and has fallen by 25% since that date.

The RSI was near to 50 with a tiny edge towards the sellers on August 29. Meanwhile, the CMF remained indecisive due to the fact that the RSI was close to 50. However, the CMF was moving in a sideways pattern, which suggested that the buyers were not benefiting from the flow of money.

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In spite of this, ADA was trading at $0.454 at the time of publication, representing a 5% increase over the course of the previous day.
Even though the price is not in its best phase, the good feeling from the cryptocurrency community and ADA’s strong relationship with its customers should prove to be rewarding in the long run. In the short term, the price is not in its best phase.

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