Cardano (ADA) Investors are Holding for a Reason They did their research around Quality
There is renewed interest in NFT in the cryptocurrency space, and the temptation to jump into DeFi is also continuing. While the majority of the DeFi and NFT projects are on the Ethereum Blockchain, Cardano, growing at par with...
There is renewed interest in NFT in the cryptocurrency space, and the temptation to jump into DeFi is also continuing. While the majority of the DeFi and NFT projects are on the Ethereum Blockchain, Cardano, growing at par with Ethereum technology, is having more developers migrating to Cardano.
However, it just looks like there is a struggle for ADA to keep its uptrend while setting new record prices. Optimism is sustaining the price in a tight range despite the loss of confidence from many about ADA working past $3.09. A new all-time high is expected to be all the more challenging.
Cardano transactions are verified by using Proof of Stake (PoS) and, therefore, users less energy. It is very obvious that the cryptocurrency space is evolving. Cardano is trying to bring the best of smart contracts.
The Alonzo upgrade will permit smart contracts to be built on the network, potentially making the Cardano blockchain attractive to a broader array of users. For clarity, a smart contract is a piece of code that permits people to enter financial agreements without the need for a centralized party. The move is likely to make Cardano more of a rival to Ethereum.
Ethereum already offers smart contracts and has drawn increasing institutional investor interest for its range of potential uses in financial services.
Ethereum is trying to switch over to PoS. Ethereum’s transition to PoS focuses on offering many benefits: more security, more democratic governance, and significantly more efficient usage of resources. On-chain, this will result in increased throughput, shorter transaction times, and lower transaction fees.
And, this just looks like the entire cryptocurrency space is evolving collectively. With $3 on Sept. 1, ADA had a total valuation of $96 billion; the prices are fluctuating in a tight range currently.
POW is well-tested, and it is used in many cryptocurrency projects. The PoS algorithm facilitates for a more scalable blockchain with higher transaction throughput, and a few projects have adopted it already. PoS is less secure than the completely decentralized POW algorithm.
Community response: Massive Cardano Pump is coming soon. I’m still buying at this price under $3 is still good plenty of upside left.
Many are building FUD around Cardano and people trying to get your ADA cheap. This is another reason to be bullish.
Pumping, I believe, depends on how fast the ecosystem will grow to reach $10-12. It’s off to a good start, but who can predict the future?
Early Cardano investors did their research and are holding for a reason. We know it’s going to take time, but the Quality being produced by Cardano is.
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