A blog post released by Cardano’s team a few days ago has renewed concerns about the long term future of the coin. While it is important to remember that it still remains relatively cheap in relation to its peers, recent movements have left holders worried.
Moreover, some investors believe that an imminent shift in market sentiment could happen anytime. This could lead to further decreases – especially if the Coinbase listing is pulled – and so the price may be slow-burned over time rather than spiked immediately. But keep this all in mind: despite these conditions and uncertainties ahead, traders should still consider buying ADA for new investments at current levels on both dips and rises going forward.
The team behind Cardano has set themselves apart from other digital asset projects and cryptocurrencies in general by being innovative and ambitious. Therefore, it is not surprising that the good news is often overlooked in favor of the more negative ones.
Cardano Price Prediction: ADA to remain under pressure?
The last six months have shown that Cardano is not willing to play by the old rules, which should give its investors some hope. Its vision for the future of computing is ambitious and should cause it to be taken seriously by venture capitalists, cryptocurrency investors and even businesses.
Therefore, during this period of extreme volatility and uncertainty, investors should remember that they are holding a cryptocurrency with an attractive long-term growth potential. While instantaneous gains are certainly not guaranteed, such as those seen by some of its peers in recent months, there is definitely worth in HODLing Cardano over the long term – despite what is believed to be an imminent shift in market sentiment.
What is Cardano?
Cardano’s creators have dubbed it the ‘Ethereum of Japan’ or the Japanese Ethereum. This is due to its unique Proof of Stake protocol. This protocol operates in a similar way to Ethereum’s Proof of Work, meaning that it requires some power from the user’s hardware to mine new coins, but it consumes much less electricity than mining in PoW-based cryptocurrencies.
The platform was designed by leading academics and engineers and is regarded as one of the most promising projects in cryptocurrency right now. The team has been working on Cardano since 2015 and released the first version of its network – called Byron – back in September 2017. It is currently in the process of updating its network to Shelley, which will include some new features and improvements.
What is Cardano’s Cryptocurrency?
Cardano’s cryptocurrency is called ADA (which stands for ‘ Cardano Settlement Layer’ ). The digital coin was launched in September 2017 and can be traded on most major exchanges. You can store your ADA in a Cardano wallet , although, if you don’t have one, you can download one from the official website . Also note that Coinomi Wallet works with ADA , which makes it easy to keep your holdings safe from hackers. In this chapter we’ll provide more information about how to choose a secure wallet for your digital assets.
Cardano’s cryptocurrency is called ADA (which stands for ‘ Cardano Settlement Layer’ ). The digital coin was launched in September 2017 and can be traded on most major exchanges. You can store your ADA in a , although, if you don’t have one, you can download one from the official website . Also note that Coinomi Wallet works with ADA , which makes it easy to keep your holdings safe from hackers. In this chapter we’ll provide more information about how to choose a secure wallet for your digital assets.
How does Cardano Work?
The main objective of the Cardano platform is to develop a decentralized, peer-reviewed and highly secure ecosystem. The developers’ main focus is guaranteeing that the system will be able to sustain itself and will have a constant stream of updates from professional engineers.
Cardano’s blockchain technology is similar to Ethereum’s in terms of its structure, which means it can support all types of DAPPs that require smart contracts , but its approach to Proof of Stake ensures that ADA will perform much better than ETH when it comes to computing power. The network’s users can also run different applications based on their needs without worrying about scalability issues as they would with Ethereum.
