Cardano Analysis: A 77.88% Circulation and a 28.43% Potential Market Cap Increase as of July 10, 2023
In this analysis, we delve into the data behind Cardano (ADA), a leading player in the cryptocurrency world. With a focus on its price, trading volume, supply, and social media engagement, we uncover key insights and future predictions.
Cardano (ADA), currently ranking 8th in terms of market cap, has caught the attention of 719,651 cryptocurrency observers. The current price of ADA is approximately $0.28, showing a 24-hour increase of 1.9%. However, when compared to BTC, ADA has experienced a slight decline of 1.4%.
The market cap of ADA stands at about $9.97 billion, contributing to a market cap dominance of roughly 0.82%. The 24-hour trading volume of ADA is around $175.19 million, indicating a volume to market cap ratio of 0.0176.
Considering supply metrics, the fully diluted valuation of ADA, which estimates the market cap if the maximum supply was in circulation, is approximately $12.8 billion. The circulating supply of ADA is about 35.045 billion, accounting for 77.88% of the total supply. The maximum supply limit for ADA is set at 45 billion.
Our analysis suggests that if the maximum supply of ADA were in circulation at the current price, the potential market cap would be around $12.8 billion. This indicates a potential increase of roughly 28.43% in the market cap from its current value.
In terms of social media engagement, ADA enjoys a robust presence with 841,595 Twitter followers, 689,437 Reddit subscribers, and 25,575 Telegram users. The social engagement ratio, calculated as the number of social media followers per circulating ADA, stands at approximately 0.000044.
Moving forward, as more ADA enters circulation and if the price per ADA remains stable or increases, we can expect the market cap to rise. The potential 28.43% increase in market cap suggests a promising future for ADA, given the right market conditions. Additionally, the strong social media engagement indicates a vibrant community supporting ADA, which can drive demand and potentially influence its price.
In conclusion, Cardano presents a compelling case in the cryptocurrency arena with its significant circulation and potential for market cap increase. The vibrant social media engagement further enhances its prospects in the evolving digital currency landscape.
What is Cardano (ADA)?
Cardano (ADA) is a blockchain platform for smart contracts, similar to Ethereum. ADA is the name of the cryptocurrency that powers the Cardano platform. The platform is designed to provide more secure and scalable infrastructure for the development and execution of smart contracts and decentralized applications (dApps). The development team behind Cardano aims to balance the needs of users with those of regulators, combining privacy with regulation.
