Altcoins are coming at Bitcoin (CCC:BTC-USD) with a relentless flurry of upgrades that stand to threaten the crown-ruler of all cryptocurrencies. As industry favorites like Ethereum (CCC:ETH-USD) and Dogecoin (CCC:DOGE-USD) look toward major upgrades, investors are curious to see what innovations other network can come up with. Cardano (CCC:ADA-USD), one of the largest cryptos by market capitalization, is preparing its own upgrade via the Alonzo Purple upgrade. And as investors hear some more details about the upgrade this morning, Cardano price predictions are being sought out.
Cardano’s having a great week. With network founder Charles Hoskinson teasing a reveal date for a huge coming upgrade, ADA prices have surged and the network has rapidly gained capital. In fact, its $65 billion market capitalization has boosted it past Tether (CCC:USDT-USD), into the spot of the fourth-largest cryptocurrency in the world.
Additionally, investors are becoming bullish because they know what to expect of the upgrade timeline. Cardano developers are sharing the release date for the Alonzo Purple upgrade through a video update. In it, they reveal that users can expect the full rollout of the upgrade on Sept. 12. Through the Alonzo Purple fork, Cardano users will be able to use smart contracts on the network. The big deal is that this removes the need for third parties to facilitate transactions.
Cardano Price Predictions: Can ADA Hit $3 With Alonzo Purple Rollout?
The news is catalyzing a lot of price movement for Cardano’s ADA coin. This morning, the coin is surging over 14%, moving it past the $2 price milestone once again. Can the Cardano crypto ride this bullish momentum to a $3 valuation for the first time ever? Let’s take a look at some Cardano price predictions and see what analysts are thinking:
- WalletInvestor is bullish on the $3 mark. The outlet forecasts a $3.10 valuation for Cardano’s ADA coin by August of 2022.
- CoinPriceForecast is even more bullish, suggesting ADA can reach $3.10 in just the remaining months of 2021.
- Gov Capital sees smaller gains for ADA. The outlet predicts that the coin will reach a valuation 0f $2.50 by August of 2022.
- Trading Beasts predicts ADA to be worth around $2.23 by the end of December.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.