Cardano price is up nearly 1,900% in the last year and the latest update could signal further moves to the upside
With the introduction of smart contracts, many investors are turning to Cardano as a hedge against potential problems with Ethereum
Cardano is a proof-of-stake blockchain platform that leverages pioneering technologies to provide decentralised applications (dApps) with security and sustainability. Founded by one of Ethereum’s co-founders, the project aims to bring about positive global change.
Cardano’s native token, ADA, has seen 30% more trading volume in the last 24 hours as excitement around the project grows amongst investors.
Where can I buy Cardano today?
Why should I buy Cardano?
Many investors like to include ADA in their portfolio as a hedge against potential problems with Ethereum. The Cardano blockchain is much more efficient than Ethereum, and until the roll-out of Eth 2.0, many projects are looking to other blockchains to host their dApps in order to escape Ethereum’s high gas fees.
Cardano launched the first stage of the Alonzo hard fork last week, which finally brings smart contract functionality to the blockchain, facilitating the deployment of dApps. This has many investors excited, as evidenced by the 24% surge in Cardano price across Sunday and Monday this week.
The update could see Cardano overtake Ethereum to become the most attractive blockchain for deploying dApps, leading to a further surge in Cardano price.
Just hit two significant support levels at once. Could be a great #Cardano $ADA buying opportunity. pic.twitter.com/3jyJ1mxZgq
— Card₳no Dan 🐂 ADA (@CardanoDan) June 4, 2021