If You Bought $1,000 of Cardano at Its Low, Here’s How Much You’d Have Today
The cryptocurrency ecosystem has witnessed the arrival of a plethora of new assets. But several coins remain relevant despite being around for nearly a decade. Cardano (ADA) is one among them. The asset...
The cryptocurrency ecosystem has witnessed the arrival of a plethora of new assets. But several coins remain relevant despite being around for nearly a decade. Cardano (ADA) is one among them. The asset continues to make headlines despite making its debut back in 2017. The cryptocurrency went from trading at a low of $0.01735 to its all-time high of $3.10. ADA hit this peak back in 2021, about four years ago. Currently, the asset sits 76% below this price mark. Despite this, ADA is trading much higher than its all-time low. This article highlights the altcoin’s growth rate throughout the past couple of years.
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How High Is Cardano Trading Today?
The past year and month have been extremely bullish for Cardano. According to data from CoinMarketCap, the asset surged by 56% and 17% during these periods. The past week, however, has been challenging for the asset as it dipped by over 7%. At the time of writing, ADA was trading at $0.7336. This comes after a slight daily increase of 1.28%.
Last week’s downtrend came as a boon to certain investors. According to analyst Ali Martinez, Cardano whales purchased a staggering 80 million ADA. This highlights the market’s willingness to buy the asset while looking forward to a rise in the future.
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Pocketing Profits
Historic data shows that ADA hit an all-time low of $0.01735 back in October 2017. This was about eight years ago. The asset has grown by more than 4,131% since this low. A $1,000 investment in Cardano at its lowest price of $0.01735 would now be worth about $42,286.83 at a price of $0.7336. If an investor poured more funds into the cryptocurrency, they would record much larger returns.
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