Here’s two important reasons why Cardano (ADA) hit an all-time high today
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This is the first week of December, and the first week of the last quarter of the year. So, it’s a good time to look back and see what hit an all-time high during the month of November 2018. One of the biggest movers was Cardano, which is a well-known cryptocurrency that has been around for a while. One of the things that makes it unique is that it is run on a blockchain network that uses a new proof-of-stake algorithm that is supposed to be more efficient than the proof-of-work algorithm that is used by the Bitcoin and Ethereum networks.
The crypto market has been on a bull run recently, with the entire market capitalization of all cryptocurrencies rising to new highs. This is due to many different factors, but one of the most important is the recent release of the Cardano platform. The platform has two wildly important reasons, as detailed below, why it’s currently one of the hottest coins around and why ADA price hit an all-time high today.
Here are two key reasons why Cardano (ADA) hit an all-time high today.
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Beginning of importance
Cardano (ADA) reached a new all-time high of $1.68 today.
Several events contributed to this.
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Frequently Asked Questions
Can Cardano hit $50?
This September, the cryptocurrency markets are going crazy over Cardano. The cryptocurrency’s price has surged more than 900% since its ICO just five months ago, but can it maintain this momentum? If you look at the history of top cryptocurrencies, many of them have soared in value over the last year and then plummeted just as quickly. This means that while Cardano may be on a roll right now, it may not be able to hold on to its value in the long run. According to the founder of Cardano (ADA) Charles Hoskinson, this coin can hit $50 by 2020. Now, that is a big claim and a very aggressive timeline! But why is he so confident? Cardano (ADA) is in the top 10 cryptocurrencies, but that is because of its unique design. It has a strong team and is not a one-man show like Ethereum, so it should be possible to meet the deadlines. The roadmap is ambitious and Cardano will have to avoid the security issues that plagued Ethereum. But the team is putting the effort in!
Is Cardano a good investment 2020?
Cardano was created by a group of former Ethereum developers who became fed up with the conflicting visions and infighting plaguing the Ethereum community. Cardano is a smart contract platform that was developed to meet the rigorous standards of academic institutions and businesses, in an open and collaborative environment that brings together the best practices and the brightest minds working on smart contracts today. Cardano is a cryptocurrency, like Bitcoin, but it differs from Bitcoin in that it is more environmentally friendly and has a better platform
What’s so special about Cardano?
While there are literally thousands of cryptocurrencies on the market, only a few of them have been successful. (Bitcoin, Ethereum, and Litecoin are all examples of successful cryptocurrencies, while Dogecoin, Einsteinium, and Useless Ethereum Token are examples of cryptocurrencies that probably aren’t going to be around very much longer.) While some of the reasons for these cryptocurrencies’ success are easy to identify, there are many others that are less obvious. Some of this can be attributed to simple luck, (for example, being the first cryptocurrency to use the Proof of Stake algorithm), while others are simply the byproduct of a dedicated development team. Cardano is a new blockchain network that is aiming to solve some of the problems that are inherent in many other cryptocurrencies. For example, the currency is not only designed to be secure and scalable, like Bitcoin, but it also aims to offer more advanced features. This isn’t just another alt-coin. So, what’s so special about Cardano?
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