Cardano (ADA): Factors Providing Stability To Crypto Are Also Responsible For Its Limited Growth
Cardano (ADA) has been in the cryptocurrency trade market for quite some time now. However, this year the developers of this altcoin came up with a new 1.5 update named ‘Shelley.’ There is a slight market correction on the positive side in the value of Cardano (ADA) after this new upgrade. Interestingly, according to crypto experts, Shelley is one of the biggest events for Cardano since its launch. Moreover, Shelley is termed as the second phase of Cardano roadmap. And will help in actual decentralization of Cardano blockchain. The groundbreaking features of Shelley include an incentive that provides stakeholders with monetary benefits in order to ensure the smooth running of systems. Another one is delegation i.e. it allows users to delegate their right and obligation to sign blocks to a third party. And the last one is networking, where the blockchain network provides infrastructure to support decentralization.
As on May 06, at UTC 10:04, with a return on investment of 202.43%, Cardano (ADA) was trading at USD 0.065560. As a standard process, the price of altcoins is further compared against Bitcoin (BTC), so ADA chips, at the same time, was valued at 0.00001145 BTC per coin. The current rank of Cardano is 10th in the crypto chart with a total market capitalization of 1,699,778,461 USD. The trading volume of Cardano (ADA) for the last 24-hrs was approximately 50,449,200 USD. 25-days back, on April 11, it was trading around 0.083385 USD, however, since then Cardano’s price has gone down significantly and today it is trading with a loss of 21.3%.
Looking at the historical ups and downs in the price of Cardano (ADA), it attended its highest price on Jan 04, 2018, and traded at 1.33 USD. Moreover, dropped to the lowest level on Oct 01, 2017, and traded at a level of 0.017354 USD. Yesterday, Cardano (ADA) traded between the range of 0.067966 USD and 0.065709 USD. While the trading in the altcoin, on yesterday, started at a higher note and was priced at 0.066907 USD, but in the intraday trading, its value declined by 0.000761 USD (-1.14%) and closed the day at 0.066146 USD. Additionally, it’s trading volume for yesterday was of 49,098,473 USD.
Cardano (ADA) Price Prediction:
If you look at the factors that are driving the Cardano are its strong team, the determination of developers for testing and verifying the first approach to solve issues of blockchains, a strong community, good brand recognition, and good liquidity. Nevertheless, Cardano is treated as a serious kind of crypto, as it is more focused on academic and research-oriented projects. These projects give a sense of stability to Cardano chain, but at the same time limits the prospect of sudden growth. As per industry experts, Cardano (ADA) will see a bullish trend in the long run and has the potential to jump up in the top 5 of the crypto chart.