Cardano (ADA) Live Charts

The Tale of 3 Cryptocurrencies: Cardano, Dogecoin and ReddCoin

The Cryptocurrency market is one of the most volatile, yet profitable trading markets in the world, currently holding a combined market cap in excess of $300 Billion USD. The obvious names which come to mind are Bitcoin, Ethereum, and Ripple, which hold the top 3 ranks in terms of market capitalization. However, seasoned investors and cryptoanalysts will know that there is indeed a world of opportunity awaiting if one delves deeper into the market.

Current Market Scenario

Cardano (ADA), Reddcoin(RDD) and Dogecoin(DOGE) were all “talked” about tokens before, with all of them reaching their peaks during the massive highs experienced during early January. However, the values of all three coins have been declining steadily, reaching under a $1 at one point. Below we will discuss the reasons which led to their massive downfall.

1. Cardano, is currently ranked 7th in terms of market cap according to Coinmarketcap. It currently holds a market cap of $4,063,368,276 USD at the time of writing, with a total supply of 31,112,483,745 ADA tokens. While this may look impressive to novice traders, Cardano’s value has dropped considerably from the highs of January, which achieved an all-time high of $ 1.17 on January 07th. It has since dropped dramatically to a measly $0.183960 at the moment. Like always negative investor sentiment played a key role in suppressing Cardano’s price. Investor confidence started to fall on the Cardano project, as it succumbed to various pump tactics by investors. Another major factor that hampered Cardano’s price growth was the recent investigation of South Korean Markets, which affected the overall Cryptocurrency market indirectly.
   
2. DogeCoin, now ranked at 41 has gifted violent cost highs and lows in new times. This comes after a clever marketplace participation in January, where it was valued at $ 0.017664. Currently, it sits at $ 0.003541, which is contemplative of the vast diminution it experienced. Many have speculated about the reasons for this vast rain and have forked out the external money flows during the gratifying season. If reports are to be believed, then the withdrawal of a vast number of investors from the Doge marketplace is directly obliged for the cost slump.
   
3. Reddcoin, probably the misfortune strike of the lot is ReddCoin, now ranked 82^nd in the world. It forsaken from an considerable figure of $ 0.15158 on Jan 16^th to $ 0.005276 at the time of writing. Again, financier view played a pivotal purpose in the decline, which is being seen in the box of many new ICO projects. Almost every vital silver came underneath vigour amid China’s devise to crackdown on crypto trading. The diminution was also partly fueled by news of information breaches in Asian crypto exchanges which increasing disastrous view towards the coin. As financier certainty started to decrease, so did Reddcoin’s swell and eventually it’s price.

Cardano ADA Set to Recover after Market Rally Lead

Cardano (ADA) Set to Recover after Market Rally Lead

Cardano (ADA) has surprised many over the last few weeks due to its increased demand. The good news is that Cadano’s is now a spendable asset thanks to launching at Centra wallet. There is a bit of flurry as users and merchants are going for the coin thus increase in demand and trade volume growth. However, we are yet to see if the demand is sustainable in the months to come.

It has been good news for most of the Altcoins going by the just ended week performance. Most top cryptocurrencies posted gains amid concerns on continuity of the trends will continue. Cardano price soured by more than 20% midweek making the ADA coin the most popular.

It is clear that some cryptocurrency values are rising faster than others and Cardano ADA is among them. At the moment, the price remains solid and is set to recover after the market rally lead. The increased demand for the digital currency means the second quarter will usher in better returns for the investor.

Cardano Demand Explained

Cardano ADA is fighting for the same market share that Ethereum (ETH) and NEO (NEO) are scrambling for. However, ADA stands out as the only platform that comes with a peer reviewed technology. This is a different type of blockchain and is popular among programmers.  It is DApp development friendly since it uses smart contracts.

Although Ethereum entered the smart contract market first, Cardano offers real life solutions. NEO on the other hand is interested in the emerging smart digital economy niche making Cardano a worthy but more valuable competitor in the market.

Cardano (ADA) Seeing Light at the End of the Tunnel

Cardano (ADA) is a well-known name in the crypto space, however, most of its popularity gained are as a result of failure in the market. Cardano has undoubtedly recorded a very rough past, but recent happenings suggest a comeback.

The Next Major Item on Cardano’s (ADA) Roadmap for 2018

The next big thing for Cardano in 2018 is SHELLY. Shelly is focused on ensuring that the key elements (that Byron established) are in place so that the technology would evolve into a fully decentralized and autonomous platform. With Shelly, Cardano is looking to become fully decentralized.

The Shelly program is set to start its run from the Q2 of 2018 throughout Q3, starting with the delegation and stakepool testnets. For now, most details of the Shelly program are still in house, but has already been made official.

Cardano Launches at Centra Wallet

Cardano (ADA) announced its launch on Centra Wallet on the 28 of February. The partnership between Cardano and Centra Wallet now makes Cardano a spendable asset almost anywhere in the world, and goes on to show that more players believe in the future of Cardano. Remember that you can also convert your ADA coins to fiat currency too.

Cardano (ADA) is a perfect example of why decoupling needs to happen

Cardano (ADA) and many other cryptos have dropped significantly today. But this has nothing to do with this project’s fundamentals. Today’s drop was driven partly by the announcement by Reddit that it would no longer be accepting bitcoin payments.  This announcement has hit the market as a shocker, coming at a time when Twitter has made some negative news regarding cryptos. The result has been a collapse in the price of bitcoin, and with it, most of the altcoins. The correlation between bitcoin and altcoins has reached a point where you can predict the direction of the altcoins market, by just observing the price of bitcoin.

Luckily, bitcoin dominance in the market has been dropping and with time, altcoins will be able to unlock their true valuations. Once this happens, Cardano (ADA) will be a great beneficiary, and could easily see valuations of $10 and above.

Another factor that will drive decoupling is the acceptance of USD deposits by major exchanges instead of bitcoin. More exchanges are doing this, with Coinbase and Bitfinex leading the way. Eventually, this will be the norm.

With this in mind, it makes sense to start investing in ADA now, when it is trading at under $0.20. Going by its roadmap, Cardano is a project with a massive upside potential. For instance, Shelley which intends to make Cardano fully decentralized and autonomous is a game changer in the smart contracts space, and will give Cardano (ADA) a major boost in the future.