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Cardano (ADA) & Toncoin (TON) Price Prediction For August 2024
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The cryptocurrency market is gradually rebounding from its sharp price decline. With Bitcoin stabilizing around $55K, the altcoin market is beginning to recover and return to more stable price levels. Next up for analysis are Cardano and Toncoin.
Both Cardano (ADA) and Toncoin (Ton) have shown modest price increases. Let’s explore how these two cryptocurrencies might perform in August 2024.
Cardano (ADA)
Cardano is in the midst of a significant transformation, yet its price performance has not yet turned bullish. Over the past six months, ADA has struggled to surpass the crucial $0.50 price mark.
Nevertheless, the token is on the brink of major changes with the upcoming Chang Hard Fork. This update is expected to introduce new features for community engagement on Cardano, including enhanced access to the Treasury and improved voting mechanisms.
According to CoinCodex, Cardano could see a nearly 14% increase, potentially reaching $0.37 by the end of August.
In a similar vein, Changelly also forecasts a positive trend for ADA. The platform predicts that ADA might rise by 7%, reaching a price of $0.35.
Toncoin (TON)
Toncoin has recently garnered significant attention and trading volume in the cryptocurrency world. The token has become pivotal in showcasing Telegram's influence in the advertising sector.
Integrated with the Telegram Messenger app and frequently endorsed by CEO Pavel Durov, Toncoin benefits from Telegram's support. The platform promotes TON actively and accepts it as payment for advertisements.
According to CoinCodex, Toncoin is projected to see a substantial price increase this August, potentially soaring by 229% to reach $19.
In addition, Changelly forecasts that TON could rise to $10 by August 2024.
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