AI predicts Cardano price for July 31, 2024
The post AI predicts Cardano price for July 31, 2024 appeared on BitcoinEthereumNews.com.
Cardano (ADA) is undergoing significant developments that could potentially drive its price higher in the coming months. With major upgrades like the launch of Cardano node v9.0 and the highly anticipated Chang Hard Fork, investors and market participants are closely watching ADA’s performance. Finbold has leveraged ChatGPT-4o, OpenAI’s advanced and recent AI chatbot model, to offer insights into how ADA is likely to trade by the end of July, considering the key factors influencing ADA’s future price trajectory. Factors influencing ADA’s price ChatGPT-4o highlighted several factors likely to impact ADA’s price. The launch of Cardano node v9.0 marks the completion of primary development for on-chain governance, introducing important features like Plutus v1 reference scripts and CIP-69 support. These enhancements boost network functionality and security, attracting more developers and users. Additionally, the Chang Hard Fork, a major upgrade aimed at implementing decentralized governance, is expected to significantly enhance Cardano’s capabilities. Historical trends show substantial price increases around major upgrades, creating a bullish sentiment. Significant increases in active and new addresses indicate rising adoption and usage, reflecting a healthy and expanding ecosystem. Cardano is preparing for the Chang Hard Fork, set to occur by the end of July. It’s worth noting that before its previous hard fork in 2021, $ADA surged 130%, from $1.35 to $3.10 in just a month. pic.twitter.com/E8zTEgZM6k — IntoTheBlock (@intotheblock) July 6, 2024 Moreover, the number of large holders (those holding 10 million to 100 million ADA) has increased, reflecting growing confidence among significant investors according to sources. Cardano funds have received substantial investments, indicating strong market confidence and driving up demand. Positive updates from Charles Hoskinson and progress towards the Chang Hard Fork have further strengthened investor confidence, a powerful driver in cryptocurrency markets. ChatGPT-4o ADA price prediction Based on the successful launch of Cardano node v9.0,…
Filed under: News - @ July 10, 2024 8:16 pm