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2018 is almost over and in these days the situation of the encrypted market is slightly better than in previous months. Most of the scrambled see their lowest points in the last year, or even longer. With such a situation, it is a small surprise that many investors are having an inner debate about whether or not to cut their losses and leave space.
While a lot of smaller cryptocurrencies could suffer irreparable damage due to these conditions, some of the greatest hits like Cardano (ADA) are still worthwhile. Let's see why Cardano, in particular, is a cryptocurrency that still applies to HODLing.
Because you should keep your ADA coins
Cardano is currently the eleventh largest cryptocurrency by market capitalization, being just above the IOTA (MIOTA) and under TRON (TRX), which has recently passed it. Its current price is $ 0.037356 per currency, and has a market capitalization of $ 968.53 million.
It is the first crypt that has a market capitalization of less than $ 1 billion, although this is something that can easily change at any time. Many often compare Cardano's marketing strategy to that of TRON, stating that ADA has almost zero fluff, while TRX – and in particular its founder, Justin Sun – are often criticized for causing unnecessary exaggeration.
Cardan does not use these methods, as the currency allows his actions to speak. It was created by Charles Hoskinson, who previously worked on the development of numerous successful projects, including the Ethereum itself. Hoskinson has witnessed the development of multiple coins and collected the necessary information on their defects.
For this reason, he and his development team paid special attention during the development of Cardano, focusing on quality instead of rushing things. Furthermore, the development team is made up of professionals and academics who are familiar with the way a cryptocurrency should work in the best possible way.
Cardano has also announced several projects that should further improve the currency, such as the resolution of scalability problems. The main goal here is to provide simple and economical financial solutions for billions of people around the world who are considered underbanked. The most promising solution seems to include the introduction of parallel chains and the concept of sharding. If these goals are achieved, Cardano will receive much more attention, which will have a positive impact on its price and potentially make it the representative of the third generation of cryptography.
In addition, the currency appeared on the list of potential candidates for the listing of Coinbase. If the exchange decides to add ADA to its limited list, it will certainly have an impact on Cardano's position, as the currency will experience even greater use. Moreover, ADA is already a negotiable resource on many well-known and reliable platforms, such as HitBTC, UPbit, Huobi, eToro, Bithumb, and it is expected to arrive also at Cryptopia.
It should also be noted that Cardano is a currency with a relatively stable price, if low. He experienced less volatility than most cryptocurrencies that are not classified as stablecoins. One reason for its low price may be its large current offering, which currently includes almost 26 billion coins, as well as its total supply of 31.1 billion units.
For all these reasons, and much more, many experts expect Cardano to be one of the coins that will survive the apocalypse altcoin, both now and in the future. And when the storm explodes, the remaining coins will find themselves in more favorable conditions, which will allow them to grow and develop properly.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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