The future of Cardano (ADA): Will it float or sink?
Cardano (ADA) has been one of the most talked about cryptocurrencies in recent times. The coin definitely has immense potential, and the crypto community has realised it. However, a few controversies surrounding the coin might hinder the coin’s growth by a huge margin.
Cardano (ADA) hit the crypto market just last September. Since then, the coin has seen a huge upsurge in price, which is why it currently ranks 7th on the list of top cryptocurrencies by market cap. This is a huge achievement in itself.
At the end of last year, which is regarded as the golden age of cryptocurrencies, the coin crossed the $1 barrier. Cardano’s all-time highest price is $1.32, which occurred on January 4, 2018.
The current status of Cardano
At the moment of writing, Cardano was priced at $0.170 with a market cap of $4.431 billion. Though the coin saw a huge dip in value over the last few days, it has got a significant growth today. It has increased in value by 8.90% against USD and by 8.49% against Bitcoin, which is very rare for a coin at its price.
Ever since the coin found a sudden hike today, the trading volumes have more than doubled. The 24-hour trading volume of the coin stands at a healthy $175.69 million.
What about Cardano’s future?
Though Cardano is a pretty young coin (not even a year old), it has managed to appear in the top 10 listing. This shows the potential that the coin has. Moreover, it has a lot of development to be done in the near future, which could seriously pump up the coin’s price.
Another impressive factor about Cardano is that it is a very stable coin. Though it has seen several ups and down until now, its variations and transitions from the bullish market to the bearish, and vice versa, are pretty smooth. Bitcoin price does affect the coin’s value, but not by much. As the coin is priced at a meagre $0.170, people who are looking to make a quick buck wouldn’t benefit from Cardano. Instead, Cardano would be one of the best investment options for people who are looking for a long-term investment.
So the verdict is, Cardano has a huge potential and the opportunity for the coin to grow is immense, keeping in mind the development that is yet to happen. If you’re looking for an alternative investment to Ripple, Cardano is the best choice, hands down! Some crypto enthusiasts also predict that the coin could be worth $10 within the next 3-5 years, which would be an ROI beyond imagination!
So, would you invest in Cardano?
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