Cardano’s ADA, the world’s third-ranked cryptocurrency, rose greatly by 39% to its new all-time high of $1.88. This has triggered a lot of responses from traders, investors, and enthusiasts.
Cardano was launched in 2015 by Charles Hoskinson, co-founder of Ethereum. Since its launch, the coin has been rising at a slow pace. Its slow growth rate made many doubt the worth and success of the coin. Only a few investors remained optimistic. In 2020, Cardano began to gain widespread attention as its price rose to over a dollar. The coin speedily rose to its current point, making it the world’s third-ranked cryptocurrency.
Cardano is now being sold on Coinbase Pro at an exchange rate of $1.88. It was reported that Cardano reached this point at about 4:15 PM UTC. The coin has remained at this point with no signs of dropping to a lower price. The growth rate is less volatile compared with Bitcoin and Ethereum. It is then easier to understand why it is relatively stable and slow to rise. Also, the bullish cycles that prompt the rise in Ethereum and Bitcoin prices are not the same for Cardano.
Cardano’s Growth Potential
Up until now, so many people have criticized Cardano, saying it has a very low potential for success. Cardano is now speaking for itself, debunking previously proposed theories. The coin does not seem to be taking the path of Bitcoin and Ethereum. Its growth rate is quite different. The conversations around Cardano’s ADA have also changed. Analysts are now trying to predict Cardano’s ability to outperform the top two currencies – Bitcoin and Ethereum. While many believe Cardano cannot measure up to Bitcoin, there is no certainty regarding the growth trajectory it will follow.
So many people have reacted positively to Cardano’s price surge. The happiest of them are investors who believed in Cardano when it was below a dollar and recent investors who turned to the coin when it reached a dollar price mark. A lot of speculations have filled the air as everyone is optimistic about Cardano leaping for another all-time high.
No doubt, Cardano has got the potential to be very successful in the market.