The current price of Cardano is $ 27,885.47 USD and the ADA volume today is $ 435,295,039 USD. Cardano’s price changed 7.15% in 24 hours. MarketCap ADA is $ 13,039,119,535. The current CoinGecko #7 ranking.
Cardano is a decentralized platform that was launched in September 2017 by Blockchain Development Output Hong Kong (IOHK). Cardano block build time is 20 seconds. The platform is managed by a team led by Charles Hoskinson – co-founder of Ethereum. Cardano, like Tezos, is based on the Proof-of-Stake algorithm. On the basis of Cardano, the cryptocurrency Cardano Coin was created. It is the first platform based on scientific philosophy and research. Behind the project is a team of scientists and academics, thanks to which the price of Cardano may increase in the future.
The maximum supply of Cardano is 45 billion ADA, and about 74% of the coins are already in circulation.
Cardano made its debut on the market in late 2017 – in October, one ADA was priced around $ 0.02. In January, Cardano hit its first ATH of $1.0797. Unfortunately, the price of the ADA fell quickly.
2019 and 2020 were not very good for Cardano. The value of this coin was not around USD 0.04 for a long time.
Cardano saw strong gains in the first quarter of 2021. The ADA price has increased by approximately 700%. In May, like most ADA cryptocurrencies, reached its next ATH. Then there was a correction where Cardano fell from $2.30 to around $1.05.
Subsequent spikes in the cryptocurrency market saw the ADA hit its ATH on August 2, 2021. It was set at $3.09 and remains Cardano’s highest price so far.
Cardano’s quotes, like other cryptocurrencies, depend on many factors. The main factor behind the rise in Cardano’s prices is the design updates that increase the utility of this cryptocurrency. At the same time, they cause an influx of developers who rely on the Cardano network.
The advantage of Cardano is primarily its deflationary character. Like Bitcoin, Cardano has a limited supply which means it is not subject to inflation.
The big advantage of Cardano is that it is a “green” cryptocurrency because its mining is more environmentally friendly than, for example, it is the case with BTC. The Cardano price may increase in the near future, because many countries or important people like Elon Musk pay attention to the high power consumption during cryptocurrency mining.
Environmental friendliness means that Cardano may soon have a visible advantage over other altcoins, and the ADA price will go up.
Official website: https://www.cardano.org/en/home/
Source Code: https://www.cardano.org/en/academic-papers/
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