While the mainstream press seems content to concentrate on the major players in the cryptocurrency scene – Ripple, Ethereum, and Bitcoin – more in-depth analysis shows that some of the less visible altcoins on the market might be set to make their mark in 2018.
Cardano (ADA) is one such coin, and every indicator suggests that it could well be the coin of the year.
Cardano is a relative newcomer to the scene, being a third-generation iteration of the blockchain technology that underpins all cryptocurrencies. At the time of writing it is trading at a mere $0.35 per coin, which is an absolute steal given its history.
Of course, trading on past performance can be a risky business, but Cardano is unique amongst digital currencies in that its history is one long upwards trajectory. Granted, it has its spikes, just as every asset does, and yet it only seems to suffer from the smallest of correction periods before levelling out. This has been demonstrated throughout its short history, with its value on a graph appearing almost as a set of steps leading upwards, compared to the usual erratic waveform of peaks and valleys.
Even the recent drop that ADA suffered along with all other altcoins in the wake of the Bitcoin crash has been weathered better by Cardano than by many of its rivals, despite its low market price and this is a very attractive property in an altcoin, particularly when the serious investors start circling again during the inevitable cryptocurrency bull run predicted for later in the year. Whilst the immense prices and market caps of the Big Three will always make headlines, when it comes to serious investment proposals, stability will win out over volatility every time.
It’s worth remembering, of course, that Cardano is an operative altcoin, in that it depends on its blockchain as much as (if not more than) its trade price. Cardano is very supportive to its blockchain partners, and that adds a further layer of security to the currency, as such partnerships only ever increase the value of the tokens, as both Ripple and Ethereum can confirm.
Stability might not be exciting, but it makes for shrewd investments.