Cardano, a novice in the field of cryptocurrency, was able to demonstrate tremendous growth in a very short time.
Accommodation futures CME Group this weekend, quite predictably provoked jump of bitcoin to 20 thousand dollars on some exchanges. According to CoinMarketCap, December 17 at 12:19 UTC the price of bitcoin has reached a new record high of 20 089$. Since then, there have been a market correction, and the price dropped to about 19 thousand dollars. At this time, altcoins have not suffered from the recent rise of bitcoin. On the contrary, some of them, including Cardano, very confident last few days.
If NEO is the Chinese Ethereum, ADA is a Japanese Ethereum. Less than a week, the currency rose from an unknown to a leader among his own kind. During the week the price Cardano increased from 10 cents to more than 50, demonstrating a 400% leap.
Cardano’s path to the top
At the moment, the market capacity Cardano is 12.5 billion dollars. Thus, the currency walked in the ranking of the Dash and Iota and took the sixth place, come close to Litecoin. Tokens ADA actively sold on the stock exchange Bittrex, which owns 60% of the total market. In second place after her Binance with 35%. In recent days the total trade amounted to 549 million dollars.
According to Forbes, given the fact that bitcoin, Bitcoin is Cash, and now Dash is worth more than a thousand dollars, included a psychological mechanism that is particularly evident in new traders. People with limited experience in the market of cryptocurrency and traditional currency counting coin, standing less than a dollar, more profitable investment. In recent months, several altcoins “went into orbit”. Among them, XRP, IOTA, NEM, LTC, and ETH. Probably soon this list to grow with Cardano.
Currency Cardano developed by Input Output Hong Kong (IOHK). Company co-founder Charles Hoskinson was also actively busy with Ethereum at the dawn of currency. The basic idea of Cardano is an extension Ethereum and solving scalability issues. Similarly, Ethereum and Neo, is a platform for decentralized applications and smart contacts. It will work on the principle of layers, giving the system flexibility for maintenance and allowing you to make updates in the form of soft-forks.
According to the information on the website:
“This is the first blockchain-a project that will be based on a scientific philosophy with the involvement of an international team of leading teachers and engineers. It is important to create a safe, flexible, and scalable technology that will benefit millions of people. Therefore, the project attracted leading professionals to make informed design decisions as the result of careful analysis.”
Cardano have a great future, especially if currency be able to solve the current problems with the scalability of existing blockchains. After setting a new record in 0.59 dollar at the moment, the price of the currency is 0.49 per dollar.