Cardano [ADA]<\/a>, the eighth-largest cryptocurrency, has showcased some vital signs of life in the past two weeks. Kudos to the developments across the network that really triggered investors\u2019 confidence. However, that being said, the network\u2019s native token, ADA, didn\u2019t quite show the same enthusiasm.<\/p>\n At press time, ADA traded around the $0.46 mark after recording a 1.5% surge at press time. Needless to say, the network needs more push to really carry the token across the $0.5 milestone.<\/p>\n Cardano\u2019s long-awaited Vasil upgrade<\/a>, which aims to improve the network\u2019s scalability and performance, had \u201csuccessfully\u201d gone through the testnet<\/a>. Soon, other developments raised a green flag to highlight the success.<\/p>\n The eighth-largest blockchain in the world, enjoyed high activity from developers. According to data harvested from Santiment, Cardano registered the highest level of daily developer activity on a week-to-week basis.<\/p>\n Considering the graph given below, Cardano continues to lead the way in the development activity as compared to other tokens within the crypto space.<\/p>\n Source: Santiment<\/p>\n<\/div>\n But there\u2019s more to come in the pipeline as stated<\/a> in a 5 July interview with Duncan Couttus, Cardano\u2019s Principal Technical Architect:<\/p>\n \u201cThere are a lot of things that I\u2019m excited about in the coming months for Cardano. We have many new technical developments in the pipeline. Some of them are happening sooner than others, but all of them will have big impacts on our community.\u201d<\/p>\n<\/blockquote>\n Needless to say, such narratives could boost morale of the ADA holders. This could help the token surge post the $1 mark. In fact, Cardano\u2019s price potentially could surge to $2.9 by September, before plunging to end the year trading at around $1.11. Here\u2019s a graph that highlights the said prediction:<\/p>\n Source: Cardano Blockchain Insights<\/p>\n<\/div>\n The $1.11 mark would be worth noting as it would signal a 140% rise from ADA\u2019s current $0.46 price tag.<\/p>\n Cardano\u2019s native token rarely has had any significant jump this year. Even now, the price continues to consolidate under the $0.50 mark. This could be a worrying sign both for the developers working on the network as well as the ADA holders.<\/p>\n In addition, the 30-day trading returns or MVRV ratio have faded to a low level. At the time of writing, ADA\u2019s MVRV (30 days) ratio stood at -2.66% as per Santiment.<\/p>\n 📈 The average trader over the past 30 days has rebounded to a -3.5% return for $BTC<\/a>, +1.9% for $ETH<\/a>, +4.0% for $BNB<\/a>, and -2.9% for $ADA<\/a>. Generally, there is less risk being invested in assets where trader returns are still in the negative. https:\/\/t.co\/EXp92WuNlZ<\/a> pic.twitter.com\/VZT1EByVxi<\/a><\/p>\n \u2014 Santiment (@santimentfeed) July 7, 2022<\/a><\/p>\n<\/blockquote>\n Can this help ADA showcase a price bounce in the future? Indeed yes. But for now, the current signifies low self-esteem for ADA traders\/investors.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n<\/p><\/div>\nCan this help?<\/strong><\/h3>\n
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<\/a><\/p>\nWhat about ADA\u2019s short run?<\/strong><\/h3>\n
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