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After recent gains, Cardano (ADA) has positioned itself as a top-5 cryptocurrency, rising from $0.44 on February 3 to $0.88 today - doubling its market cap to above $28 billion, in a couple of weeks.
After careful consideration, Markethive, this Inbound Marketing platform, chose to build its wallet on the Cardano blockchain to escape the high gas fees and slow transactions of many competing blockchains.
The Cardano blockchain delivers extremely fast & secure transactions for an extremely small fee which will be a huge advantage for the Markethive ecosystem. Markethive engineers are currently working with the Cardano team, finalising the last stages of building the wallet.
This shared post below, by Jeff Benson, highlights the recent rise of Cardano's ADA token.
By Jeff Benson - Decrypt
With recent gains, Cardano (ADA) can start to solidify itself as a top-5 cryptocurrency.
When one thinks of large-cap cryptocurrencies, their minds likely go to Bitcoin, Ethereum, Tether, and...Cardano?
If Cardano keeps rising like this, they just might.
ADA, the token of the Cardano blockchain is the fourth-largest cryptocurrency by market cap, according to data from Nomics. After a 31% increase in the last week, the price of a single ADA token is now slightly higher than $0.88. The market cap for Cardano was $28.2 billion as of 6:30 p.m. Pacific time on Monday, a smidge higher than Polkadot’s $27.6 billion and Ripple’s $25.8 billion.
Cardano's market cap is up 137% in the last month, with much of that movement coming since February 3, when the price was just under $0.44. And although it actually went above $0.90 a few days ago before dipping slightly, it's managed to hold most of its value.
Like Polkadot, Cardano is a blockchain project from an Ethereum co-founder. Charles Hoskinson, CEO of IOHK, is the main visionary behind Cardano, a proof-of-stake network with a heavy emphasis on smart contracts. Those who hold ADA tokens can take part in governance votes over the future of the platform.
The price rise extends out longer than just a week. A month ago, ADA was worth in the neighbourhood of $0.35. Then, came the announcement that Cardano would start allowing “Native Tokens” issued by users on the blockchain by the end of February.
“While ada will remain Cardano’s principal currency, Cardano will transform into a multi-asset (MA) blockchain, opening up a constellation of possibilities,” wrote IOHK Marketing & Communications Director Tim Harrison in early February.
Cardano is within striking distance of the perennial third-place token, the Tether stablecoin, which has a market capitalization of $32.1 billion.
Article produced by Jeff Benson - Read the full article:
