In August 2021, Cardano founder Charles Hoskinson announced the launch of the Alonzo hard fork, which caused the price of the ADA token to skyrocket. According to Coinmarketcap, it increased by 116% in the following month. After that, it reversed some gains and fell to sixth place by market capitalization. Does Cardano have a future? Read on to see our assessment. By the way: here are also the best places to buy Cardano now.
The Best Places to Buy Cardano now
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What is Cardano?
Cardano is one of the largest blockchains that successfully uses a proof-of-stake consensus mechanism. It is less energy-intensive than the proof-of-work algorithm that Bitcoin relies on. Although the much larger Ethereum will upgrade to PoS, the transition will only be gradual.
The entire technology developed by Cardano goes through an expert-reviewed research process. This means that bold ideas can be challenged before they are validated. According to the Cardano team, this academic rigor contributes to the blockchain being durable and stable, which increases the chance of anticipating potential difficulties.
Should I buy Cardano today?
Crowd Wisdom today predicts a price in the range of $ 1.62-$ 1.71. The general recommendation for the next 24 hours is “Buy!”. If you are not sure, read other predictions to make an informed decision.
In the longer term, Wallet Investor predicts an upward trend. According to the analyst platform, the average price of Cardano could be around $ 2 at the beginning of next year and rise to $ 4.1 by the end of 2022. By the end of 2026, it could reach $ 12.
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We are just getting started!!
#cop26 has ended but it is only the beginning of worldwide efforts to curb climate change, one of which is through #reforestation. 🌱🌳💚
@veritree_ ➕ #CARDANOFOUNDATION partnership goals 🙌
– Cardano Foundation (@CARDANOSTIFTUNG) November 13, 2021