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Cardano (ADA) Evaluation of the Haussier market
The cryptocurrency market has experienced significant volatility in recent years, Bitcoin and other main parts are subject to a wild price swing. However, in the case of several blockchain projects, such as Cardano (ADA), the Haussier market can be particularly difficult to navigate. In this article, we will take a closer look at ADA’s performance on the Haussier market and examine the factors that could contribute to its success.
What is Cardano?
Cardano (ADA) is an open source, a decentralized blockchain project and cryptocurrencies developed by Charles Hospinson, one of the co-founders of Ethereum. The ADA introduced in 2017 aims to create a safer, scalable and maintained alternative to traditional blocks.
Why is Ada Trading so strong?
What makes the ADA price mark on the Haussier market? Here are some key factors that have contributed to its success:
- increasing adoption : When more companies, such as IBM, Intel and Microsoft, starts Cardano with their applications, ADA demand increased considerably.
- Improvement of scalability : The proposed consensus algorithm, the Cardano proof of Stak (POS) allows the treatment of faster transactions and lower gas costs compared to traditional blockchain networks, such as Ethereum.
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- Partnership and cooperation : ADA has established partnerships with main companies such as IBM and Intel, which contributes to increasing its visibility and its credibility on the market.
ADA performance on the Haussier market
From January 2021 to March 2022, the Cardano price increased from approximately 0.19 USD to more than 1.50 USD per room, which is an incredible reimbursement of more than 700%! This bull was fueled by an increase in institutional investments and the growing adoption of the project.
Key statistics:
- On January 10, 2021, ADA exchanged 0.19 USD.
- On March 15, 2022, ADA exchanged $ 1.55 per room, which represents a reimbursement of more than 700%.
- Total market capitalization of ADA has increased from approximately $ 100 million to more than $ 3 billion during the same period.
What leads to prices?
Several factors contribute to the increase in ADA prices:
- Increase in institutional investment : When more institutions start to invest in Cardano, the reputation and visibility of the project have increased.
- increasing adoption : The growing number of companies integrating Cardano into their applications caused ADA’s request.
- Improvement of scalability : faster transaction treatment times and lower gas costs activated by the POS Cardano consensus algorithm make it more attractive for users.
Application
Cardano (ADA) appeared as the highest quality cryptocurrency on the last bull markets. Factors such as growing reception, improvement in scalability, community participation, increased partnerships and institutional investments have contributed to its success. As the market evolves, it will be interesting to see how ADA’s performance adapts to changing conditions.
Recommendations for investors
If you plan to invest in Cardano (ADA), here are some key dishes:
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