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Crypto Market Dip Aftermath: Cardano (ADA) Making A Recovery
This week has become very crucial for cryptocurrencies worldwide, as led by Cardano as one of the top ten coins with the biggest growth in the last 24 hours. The reason behind the noted “crucial importance” is that all coins are somehow trying to recover from a severe market dip that lasted for weeks and even for months for some of the coins on the market.
Together with EOS, Cardano was marked as the quickest rising coin in the last 24 hours as it managed to jump up to over 20%. The market dip was strangling our favorite currencies even during the previous weekend, but as of Monday, the majority of currencies can finally start to breathe. Let’s see how Cardano is recovering and what awaits ADA in the weeks that are yet to come.
Cardano is Recovering from the Market Dip
As of Monday of the following week, it is more than obvious that Cardano is doing pretty well. Needless to say that this is a very important week for all cryptocurrencies as our favorite digital assets are trying to bounce off and recover from the most recent market dip that went on for weeks.
Cardano has notably managed to rise among the top of the rising coins for this week as the total rise in its price equals over 50% since ADA could be purchased for 0.12$, which was a devastating drop for this currency.
Once Monday has come, it was easy to forget about the crypto market crashing as Cardano managed to go from the price of 0.14$ to dealing at 0.19$ over a short period of time, which simultaneously made ADA the top recovering coin for this week. Following Cardano, EOS is holding up more than well, too.
Cardano’s all-time high price is marked at 1.22$ per one unit, so if this currency would continue with the current pace of growth while dealing in the green, this price could be easily reached again within several weeks.
On Tuesday Cardano jumped up to 20% against the dollar, additionally raising its price and dealing at 0.20$ per one unit and of Wednesday, March 21st, Cardano has had another rise in its price.
After the most recent change in its price marked at 15.53%, ADA is now worth 0.21$ per one unit and it is trading in the green.
Hopefully, ADA will continue with doing a great job, easily reaching its all-time high again.
Cardano’s Value
It is said that Cardano ADA is more than just a coin, so it is no wonder that this currency with its technology takes the 6th spot on the global coin ranking list. Although this currency with its platform is still in developmental stages, the potential of this decentralized ecosystem can already be noticed.
Currently, Cardano platform is actively used for making transactions by everyday users, but thanks to the layers within ADA’s technology, the platform will be soon enabled and improved for the needs of governments and organizations.
Thanks to the use of layers in their technology, the platform is flexible which makes it easier to apply changes when needed, with a soft fork.
After the completion of the layers and after adding the final layer, the developers’ team will then add another layer that would enable operations with smart contracts. That means that Cardano platform will be equipped for making and uploading decentralized apps and all sorts of agreements, while also being able to process fast global transactions with maximal flexibility.
Stanley William, a noted computer engineer and a huge fan of crypto universe claims that it is pretty uncertain whether or not a currency will rise or fall, as well as it is very hard to determine when will a currency go up and when it will fall down.
He also adds that the year 2017 was the year when we all had a chance to learn more about the technology lying behind digital assets, hard forks, changes and different protocols, while the current year of 2018 should serve the purpose of correcting the mistakes all dev teams could learn on during the past year.
That being said, it can be easily predicted that Cardano is doing everything but hibernating as the team behind this currency is working on improving the system and adding layers that would make ADA platform complete and ready to work for even more demanding requests organizations and governments would have.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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