Cardano is “undervalued” and can “double” ADA in 3 months

Cardano is "ondergewaardeerd" en ADA kan in 3 maanden "verdubbelen"

Cardano (ADA) is a favorite of many crypto investors. However, the price of ADA has not been going well for some time. However, according to cryptocurrency analysis firm Santiment, the current price of ADA is not a good representation of its value. The researchers state that ADA is undervalued and could double in price in the next three months.

Cardano underrated

Santiment concluded that ADA is undervalued by looking at the so-called Realized market value Ratio (MVRV). According to Santiment, this is an excellent way to determine if the price of a token also aligns with the underlying fair value.

“Although the metric is not without its drawbacks, it provides an easy way to gauge whether a particular currency is overvalued or undervalued, and the potential for an upcoming trend reversal.”

Cardano is clearly undervalued today, according to Santiment. Currently, ADA’s MVRV ratio is at its lowest level since January of 2019. Additionally, Santiment notes that the last time this ratio was very low, ADA’s price doubled in the following three months.

Although the past clearly does not guarantee future price movements, according to Santiment it is clear that rising A reference to the ADA. Perhaps the price could finally start to rise again after months of poor performance?

ADA rate to $1?

At the time of writing, ADA was trading at just over $0.35. Compared with the high all the time In September of the previous year, down at least 89%!

On Twitter, we asked according to what they expect from ADA rate? Will we see another ADA price above $0.70 before the end of 2022? Or will the ADA sink more? Let us know what you think of vote less.

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