Get comparisons, analyses and forecasts for stocks, ETFs & funds
Cardano (ADA.X): will it break to new highs?
Cardano launched last year; so far it achieved a return of over 1,500%. The market cap of this cryptocurrency is around $9 Billion. It is in the top 10 cryptocurrencies by assets.
Cardano is currently trading around its 90-day high, so speculators are wondering whether its price will increase much further beyond the current level?
The developers of Cardano have specifically created it for enabling sustainable systems for cryptocurrencies.
There are some positive developments around Cardano (ADA.X). The Ethiopian government signed a memorandum of understanding with the parent of this cryptocurrency, hoping to see local developers apply blockchain technology to the country’s agritech industry.
The Ethiopian Ministry of Science and Technology aims to train local developers to use Cardano blockchain technology.
Cardano is one of the most advanced blockchain platforms--and it's a well-known open-source project. From its very beginning, this cryptocurrency challenged itself to become better than Ethereum in every single aspect--and so far it's seeing some success.
For example, new users can “bootstrap from the genesis block and do not need a checkpoint block or any prior knowledge of the number of users active in the system.” Such a thing was not possible in proof of stake distributed ledgers, and this makes the feature a genuine turning point in the technology.
Given the recent commercialization efforts, along with huge progress on the development site, we would not be surprised if ADA.X price continued to go up.
For the latest developments on Cardano, you can visit Finstead.com and type "ADA.X news" and "ADA.X price" to get the full scoop.