Despite everything that’s been happening to the world, cryptocurrency has continued to rise in popularity, and it’s not stopping anytime soon.
In this video, we’ll be talking about what Cardano is, how it came to be, how to purchase ADA, its price movement last year, and whether or not it’s going to be a good year for ADA.
What Is Cardano?
Created by Charles Hoskinson through the Hong Kong Input-Out company, Cardano is a derivative of BitShares and Ethereum. Hoskinson was a co-founder of the now-iconic Ethereum that has revolutionized crypto just as much as Bitcoin had in 2012.
Hoskinson founded Cardano as a blockchain in 2015, and it started with a price of USD 0.02 only. Today, it’s priced at USD 1.19, with a 24-hour trading volume that averages more than USD 1.3 billion. But how did it reach this point?
How Did Cardano Come To Be?
Cardano’s ADA conceptualization first came to light in 2015, but it only launched on platforms in 2017 intending to create a stable cryptocurrency ecosystem. At the time of its creation, cryptocurrencies were extremely volatile, and the risks were extremely high and the reward.
Today, even though crypto are still definitely risky, they weren’t as extreme as in the past. This is thanks to many big cryptocurrency coins that have become relatively stable already. Cardano’s ADA is one of these, even outperforming both Bitcoin and Ethereum last year.
The Price Movement
Reaching more than 691% of its value in one year is an amazing feat for ADA. Compared to Bitcoin, which improved by 75%, and Ethereum with 453%, ADA beats out the two crypto giants. In January 2021, ADA started with a market capitalization of$5.5 billion USD with a value of 1 ADA at USD 0.18. In December, they ended the year with a market cap of USD 49 billion and a value of $1.46 for a single token.
However, it’s also important to note that it peaked at an all-time high of $3.03 for a token, and it’s an indicator of its volatility. Despite being one of the more stable cryptocurrencies, the risks are still present, and they’re important to consider.
Is it a Good Year for ADA?
We think so! According to many crypto nerds and big-time experts, ADA has a solid long-term and short-term trajectory. After a year, Cardano is expected to reach at least USD 3.10 and, in five years, $10.46 per token.
Because it’s one of the busiest digital assets in the crypto world and one of the most successful last year, it’s worth looking into this year as it looks to continue the trend.
How To Purchase ADA
Because ADA is mainstream, it’s very easy to purchase it. ADA is available on almost all major cryptocurrency trading platforms. Coinbase, Cricket, eToro, and Binance are a few of the popular crypto exchanges that have Cardano.
If it’s your first time looking at ADA or cryptocurrency in general and you don’t have an account yet on these platforms, learning about how crypto exchanges work is highly recommended before making financial decisions.
These videos are for educational and entertainment purposes only – THIS IS NOT FINANCIAL ADVICE!