The Cardano price has risen by almost 1.900% in the last year and the latest update could signal further moves upwards
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 uses breakthrough technologies to equip decentralized applications (dApps) with security and sustainability. Launched by one of Ethereum’s co-founders, the project aims to bring about positive global change.
Cardano’s native token, ADA, has seen a 30% increase in trading volume over the past 24 hours, which was recently fueled by the excitement around the project among investors.
Where can I buy Cardano today?
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Why should I buy Cardano?
Many investors like to include ADA in their portfolio to hedge against potential problems with Ethereum. The Cardano blockchain is much more efficient than Ethereum, and until the introduction of Eth 2.0, many projects are looking for other blockchains to host their dApps to escape Ethereum’s high gas fees.
Cardano launched the first stage of the Alonzo hardfork last week, which finally brings smart contract functionality to the blockchain, making it easier to use dApps. That has sent many investors into a frenzy, as evidenced by the 24 percent rise in Cardano’s price on Sunday and Monday this week.
The update could cause Cardano to overtake Ethereum and become the most attractive blockchain for the use of dApps, leading to a further increase in the Cardano price.
Card₳no Dan 🇺🇸 🇯🇵 🇪🇹 🇹🇿 🌑 ADA (@CardanoDan) June 4, 2021