O
riginating in the cryptocurrency space in the last quarter of 2017, Cardano is one of the top ten cryptocurrencies, positioned as very attractive and at the highest level.
Built on blockchain infrastructure, Cardano is designed to do more than process payments. And while coins are like most cryptocurrencies, Cardano’s blockchain network allows the launch of smart contracts, decentralized applications and much more.
Headquartered in Hong Kong, Cardano’s development was led by a former co-founder of Etherium and is based on a similar architecture with special elements that make the introduction of new changes easier.
After Cardano’s launch, the currency was part of a major crypto race in late 2017 and early 2018, reaching a market capitalization of several billion.
Who should include Cardano in their portfolio?
Cryptocurrency traders: Although the currency is new compared to other cryptocurrencies in the top ten, Cardano attracts a lot of attention and interest in the crypto space. People who want to have a balanced crypto portfolio can buy Cardano.
Long-term investors: While opinions about the future of the crypto market differ, people who believe in its long-term expansion can invest in Cardano as part of an overall diversified investment.
Daily traders: Like most cryptocurrencies, Cardano often shows high volatility for short periods of time. Traders often try to take advantage of these opportunities to buy and sell Cardano for short periods and in an attempt to generate quick profits.
Blockchain enthusiasts: There are hundreds of cryptocurrencies available for trading and investing. However, the number of successful blockchain developers who also focus on providing access to technology to developers and much smaller. Those who believe in the technology and its promises may consider investing in Cardano.
What drives the price of Cardano?
The prices of cryptocurrencies are very volatile, sometimes changing with two-digit numbers in just one day. Like all financial assets, the price of Cardano is influenced by many factors, some related to general market trends and others directly related to the cryptocurrency. In addition, Cardano is not only a cryptocurrency, but also a platform for blockchain development. Therefore, there is another set of factors that affect its price
