Cardano cryptocurrency current status and investment prospects

This cryptocurrency attracted the attention of investors not so long ago and this happened due to a record increase in value.

In just a couple of weeks, Cardano rose in price several times, from 35 cents to 97 cents per altcoin, or almost 300%. It

should be noted that before this jump, the asset had been growing steadily for several months; on January 1, 2021, its price was only 18 cents.

After such a significant and rapid increase, many people have a question - What kind of cryptocurrency is this, and most importantly, what are the prospects for its growth.

The Cardano platform appeared back in 2014, but the cryptocurrency itself came into circulation at the end of 2017 and is essentially a fairly new monetary unit.

Cardano uses its own blockchain called Cardano Settlement Layer, which is always an added advantage.

Moreover, at first the currency grew quite quickly from the initial 1 cent to $1.30, but after the collapse of the cryptocurrency market its price collapsed to 4 cents and only in March 2020 began to grow again:

Well, now about the most important thing: how attractive this cryptocurrency Cardano is for investment.

Considering that one of its founders is Charles Hoskinson, who was once a co-founder of Ethereum, then I want to believe that Cardano will grow to a value of $1,000.

But these are just dreams; in reality, in the near future it is possible to update the previous maximum price of $1.32.

Taking into account the current price, this will allow you to earn about 40%. It is quite difficult to talk about long-term prospects; it all depends on the situation on the cryptocurrency market as a whole, and as history shows, the global trend here is never constant and a repeat of 2018 is quite possible soon.

At the same time, short-term trading still remains profitable using a trading platform through cryptocurrency brokers using leverage.

As for long-term investments, it is better to pay attention to assets that have not yet shown such noticeable growth during the last uptrend.

Read also:

The most popular cryptocurrencies for earning - https://time-forex.com/kriptovaluty/popularnye-kriptowaluty