The price of Cardano (ADA) is incredibly surging
Jan 26, 2018 Posted / 9943 Views
The cryptocurrency market is stabilizing after a recent breakdown and it seems that in no time it will again recover and gain as it was doing in the last 2 months of 2017. Almost all of the ten largest cryptocurrencies are gaining with bitcoin increasing 4% and Ethereum 6% in last 24 hours. However, there is one altcoin that has grabbed everyone's eyeballs for some time now- Cardano (ADA).
The altcoin has been highly appreciated as its price is also surging steadily. The currency is on number 5 spot in terms of market capitalization and in the afternoon trade, the price for ADA spiked some 21% to 67 U.S. cents as per the data provided by Coinmarketcap. The fifth-largest cryptocurrency has at present a market capitalisation of US$17.3 billion and puts fourth-positioned bitcoin cash(BCH) in its spectacles.
Cardano is called as a third generation cryptocurrency which was launched last year by a team which consisted of internationally ranked academics and engineers. The currency since its launch has become increasingly popular and is designed to bestow a more sustainable and balanced approach to the cryptocurrency ecosystem.
The currency has very well defined a plan for its users and has been appreciated for building an idea of an equilibrium between its users and systems seeking integration with its system. Fundamentally, the cryptocurrency aims to provide a system that has an enhanced and improved application than Bitcoin's technology in every respect.
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The currency's proof-of-stake method, Ouroboros is created in a way that it fulfils the promise of delivering the best in terms of technology. This pretentious piece of technology does have the vital potential to swindle the financial industry in the opinion of most of the analysts.
The technology is still in its early days and it hasn’t yet gained adhesion like Ripple’s xRapid product. Moreover, upstart Stellar Lumens (XLM) has another remarkable piece of technology contending to substitute bitcoin in the future.
The analysts say that Ripple and Cardano are both that kind of technologies which have great potential. Nonetheless, there is still a remote and unpredictable road forward and putting an explicit valuation on any of the cryptocurrencies is near to impossible.
The only judicious thing to do at present is to look on from the protection of the sidelines. Meanwhile, the investors ought to check out the huge opportunity provided by ADA that has everyone up on their toes.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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