The live Cardano price today is $1.30 with a 24-hour trading volume of just over $2 billion. Cardano has registered its first more substantial gains in a while, up almost 8% today. If you want to know more about Cardano, including where to buy it, you’ve come to the right place.
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What is Cardano?
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.
The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair.
Cardano was founded back in 2017. Its token ADA is designed to ensure that owners can participate in the operation of the network.
Cardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy intensive than the proof-of-work algorithm relied upon by Bitcoin.
The project has taken pride in ensuring that all of the technology developed goes through a process of peer-reviewed research, meaning that bold ideas can be challenged before they are validated.
According to the Cardano team, this academic rigor helps the blockchain to be durable and stable — increasing the chance that potential pitfalls can be anticipated in advance.
Should I buy Cardano today?
Cardano has been through a prolonged bear run, dropping from third to seventh position on the ranking of cryptocurrencies by market cap. Analysts are mostly positive on its long-term price trajectory, but it’s important to take all price predictions with a grain of salt.
Cardano price prediction
Wallet Investor predicts that the price of Cardano can go up to $2.79 in one year, making it a profitable investment. The earning potential in a year is +114%. In five years, they forecast 1 ADA will trade for $9.22.
Cardano on social media
— $thinkgrowcrypto | 21ADA.ca (@thinkgrowcrypto) January 6, 2022