Cardano (ADA) is Quickly Rising the Ranks in Altcoins
Cardano appears to be making waves in the altcoin sphere with major gains throughout the month of December while surviving a harsh downward price adjustment from the cryptocurrency market. With the security of which Cardano (trading as ADA) has shown in user transactions, the coin is poised to continue its rise in 2018. Developed by Charles Hoskinson who cofounded Ethereum, the success of the coin is mostly backed by the creator’s stellar reputation in cryptocurrency ICO’s.
Cardano is trying to appeal to users in need of greater functionality in their digital currency and to those who are looking to invest long-term. The greater functionality side allows users to transfer their coins to several different wallets, trading platforms, and online retailers. The diverse applications should give owners the relaxed feel of not having to track the value of their wallet every hour to ensure that they did not lose a large sum of the value they are holding through stabilization of the currency. The investment side is strongly rooted in the backing of the developers of Cardano who have managed to list their cryptocurrency on multiple trading platforms. The versatility of ADA has given light to those who have been skeptical in moving their capital towards a decentralized currency.
Although I am not a big fan of decentralized cryptocurrency, I believe Cardano has a strong influence on the market due to the connections of Charles Hoskinson. With greater built-in functionality and several different systems for the trade volumes to grow, there is still a large upside in investing in this coin while the overall digital economy is developing. The coin has proven time and time again that she can whether overall market trends and I plan to invest in this coin shortly with a small portion of my portfolio. This only due to the fact that XRP is driving the competition off the road. Thank you for your time.