Cardano (ADA) has always been a darling of the masses for a while now. The coin is ranked seventh by market capitalization, the coins price has been plummeting and users are already getting concerned. The current resistance of $0.03 has attracted the attention of the developer team and there is a lot more lined up to make you stay put.
With so many Altcoins in the market, the consumer is focusing on the most promising coins and Cardano (ADA) is listed among the top 10 promising alternative coins after the big market players like Bitcoin and Ethereum. Secondly, users are looking for practical coins that solve their real life problems.
Some Facts about Cardano
Not many cryptocurrency know that Cardano is smart contract based. Many users prefer the platform because of its fast transactions in a secure and anonymous environment. It is a fact that the coin borrows a lot from Ethereum but this is all because it strives to fill the formers gaps in the market.
There are a couple of decentralized platforms that embrace privacy and Cardano is the natural choice. With regulations biting in the virtual money markets, the user is looking at the compliance aspect of the provider. Contrary to common belief, regulations are hurting the digital coin platforms but protecting users to some manageable levels.
With the Haskell technology deployed on the platform, users are guaranteed of a secure platform with 100% flexibility. The Haskell programing language makes sure there are no security breaches and takes care of any blockchain faults. The technology makes the entire network flexible and to accommodate the anticipated influx of transactions at any given time.
With a lot of learning from Bitcoin network congestion, Cardano is not taking any chances. The system uses the Haskell technology to avoid repeating the mistakes that first and second generation blockchains have been grappling with. This makes it the platform not only for the moment but the future. This explains why Charles Hoskinson, head of the development team is spending sleepless nights to ensure users have access to real time transactions.
Cardano (ADA) Market Response
Cardano (ADA) has not been left out from the red. However, the current ADA price does not represent the coin per se but the entire digital currency market scenario. The coin is trading at $0.149334 after going down by 4.56% against the USD. With a current market capitalization of $3.9 and volume of $108.7 million, there is still room to capture the coins lost glory.
A loss of 4.07% against the dollar in the last 24 hours might seem minimal but it is not what the investor should be expecting. The focus however is on the Test Net to deliver on its promised after the recent launch. The developer team has assured token holders of a flawless platform one the entire platform becomes functional.
The beauty of the current state of Cardano platform is that it allows participants on the platform to transactions being processed in real time. Once charts become available, adoption will be the next area of focus.
Why Buy Cardano Now
The good news is that Cardano (ADA) is being traded below $1 presents an entry point for the ordinary investor and a haven for big partners. Secondly, the coin is in the red and current users are seeking for means to dispose it off and stake on other “better” Altcoins. If you are an investor looking for cheaper coins that will appreciate fast, this is the coin to buy now and sell at a profit in the short term.
Secondly, Cardano (ADA) is not operating at full potential, there are new features being implemented. When these are implemented, the coin value will definitely skyrocket and this is the reason you should be investing in the coin anyway. However, due diligence should always be your guide in matters investing in digital currencies.