Cardano has surprised many over the last few weeks due to its increased demand. The good news is that Cadano’s ADA is now a spendable asset thanks to launching at Centra wallet. There is a bit of flurry as users and merchants are going for the coin thus increase in demand and trade volume growth. However, we are yet to see if the demand is sustainable in the months to come.
It has been good news for most of the Altcoins going by the just ended week performance. Most top cryptocurrencies posted gains amid concerns on continuity of the trends will continue. Cardano (ADA) price soured by more than 20% midweek making the ADA coin the most popular.
It is clear that some cryptocurrency values are rising faster than others and Cardano is among them. At the moment, the price remains solid and is set to recover after the market rally lead. The increased demand for the digital currency means the second quarter will usher in better returns for the investor.
Cardano (ADA) Market Snap Shot
Although Cardano is yet to recover from the all-time high of last year, other cryptocurrencies are also going through the same slump. For the last seven days the coin has gained 6.42% by market capitalization and this seem to justify the number six rank.
Given the turbulent times the cryptocurrency landscape is going through, the small Cardano gains are proof that it is a solid coin. The volatility in the market seems to linger on longer than anticipated but the coin is ready to surge is the demand for the coin keeps rising.
The current gains against Bitcoin are a good sign that ADA recovery is underway. There is increased appetite for more gains; however, this might takes several months. The demand for the coin is based on its affordability and at $0.189342 it is ideal for mass adoption with whale investors set to gain.
Cardano Demand Explained
Cardano (ADA) is fighting for the same market share that Ethereum (ETH) and NEO (NEO) are scrambling for. However, ADA stands out as the only platform that comes with a peer reviewed technology. This is a different type of blockchain and is popular among programmers. It is DApp development friendly since it uses smart contracts.
Although Ethereum entered the smart contract market first, Cardano offers real life solutions. NEO on the other hand is interested in the emerging smart digital economy niche making Cardano a worthy but more valuable competitor in the market.
Cardano has an upper hand over Bitcoin and Ethereum who are first and second generation digital coins respectively. With so many shortcomings in the former systems, Cardano seeks to correct them with better features, speeds and capability based on simplicity.
Cardano (ADA) Future
Despite the recent regulation scare, Cardano’s system allows for the accesses to privacy of others. This makes it a darling to the regulators. Striking a balance between regulations and privacy is a recipe for progressive growth albeit subtly. As an open source platform, its design allows for future upgrades without necessarily calling for hard forks.
The partnership between Centra Wallet is a good sign that more players in the market trust Cardano. Centra has been a preserve for Bitcoin, Litecoin, Ethereum and Dash. The wallet affiliates can now accept ADA as a payment option. This explains the growing ADA trading volumes and is poised to gain in terms of value.
The price of ADA tokens is right for the ordinary investors’ pocket. Trading at less than $1, it is the perfect coin for mass adoption given that more people are aware on cryptocurrencies compared to two years back. Despite the current drop in the market, Cardano still remain a good investment choice.
After launching on Centra, Cardano become a coin that you can spend anywhere any time and this gives it a global appeal. You can convert ADA to select fiat currencies or access them via other major cryptocurrencies. Merchants on the other hand can accept the coin in exchange for good and services. With these positive developments, Cardano (ADA)is set to scale the eights and recover.