Cardano (ADA) Growth and Market Potential
Is Cardano worth the same kind of hype as Ethereum, Ripple, and Bitcoin? Or is it riding the wave of popular and more effective solutions and doomed to remain an enigma?
Here is what you should learn about Cardano as a blockchain. Cardano is quite similar to bitcoin in that it is a decentralized public blockchain program. The main difference between the two is that Cardano has been built from the ground up with user privacy as its first priority. Transactions are more anonymous, and hence more secure, than bitcoin (which does allow for users to trace back transactions and pinpoint the location of a user’s history).
Growth in Price
Though formed in 2016, Cardano on December 1st, 2017 the coin price was $0.117. However, only five weeks later it has peaked at $1.24 and currently finds itself at $0.30 (as of February 2018).
So Cardano has been quite volatile in the past few months. This is to be expected, given the natural trials and tribulations inherent in growing a blockchain technology and finding an applicable use for it in the public domain.
Market cap numbers have mirrored the movements of the COIN price for the most part. The only outliers came in December when the coin price grew faster than the market cap. At that point, the coin price was $0.099, and the market cap was $2.5 billion. This was already quite a large market cap, and the coin price is merely fluctuating to match the total market evaluation.
Things have exploded since the beginning of 2018. While the coin price remains extremely low, the market cap has risen to over $21 billion because of all the tokens currently in circulation. This makes it one of only 26 Cryptocurrencies with a market cap over 1 billion, and thus it would present itself with an opportunity for investors to position in the coin now while it is so cheap.
Global Utility Adoption
Cardano futures recently launched on the BitMex platform, which lets traders make speculation as to the future price of the cryptocurrency. This is likely designed to help boost the stock price and market potential of the company, as futures trading allows investors to bet on the company without owning any of the underlying assets.
Regarding actual global adoption, Cardano is still lagging behind other technologies that have already been incorporated into business operational frameworks. The real test will be in the next year to see if Cardano can lock down any big-name partnerships or build a more extensive network of people using the tokens for purchases and transactions.
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