Cardano, the cryptocurrency that has increased its value by more than 500% this month.
Although Bitcoin, Ethereum, Dash, Litecoin, Monero and Bitcoin Cash are currently among the best-known digital currencies that have shown essential rises in their prices, there are other alternatives in the markets. These have little by little been making inroads and capturing the attention of the interested parties. Which take advantage of the low prices to register potential profits quickly and easily like Cardano (ADA).
Cardano, a cryptocurrency that has experienced significant upswings in its value. Generating high volumes of profits in those who identified an excellent commercial alternative in the digital currency.
Some facts about Cardano
Cardano is a digital currency that made its official entry into the commercial markets on October 1 of this year. The Cardano project is the creation of a decentralized Blockchain and a cryptocurrency designed and developed open source.
The project is primary supported by IOHK with the support of engineers with vast expertise and researchers with a long career in the field of digital currencies.
The digital currency (whose acronym is ADA) is programmed to operate with a maximum amount of 45,000,000,000 units, of which a total of 31,112,483,745 are circulating to date (information extracted from CoinMarketCap). Cardano and its Blockchain operate using a Proof-of-Stake protocol. Therefor you don’t need any hardware to mine assets as in the case of Bitcoin.
Cardano has a particular wallet for its assets called Daedalus. Daedalus also operates as a node for the network facilitating the transaction of assets between users. The wallet can be downloaded from the company’s website.
This initiative has the support of the Cardano Foundation. Which primary function is to promote the use of the project protocol through the execution of educational campaigns, studies and research, as well as institutional links for the development of the digital currency ecosystem and its technology.
Growing business reputation
Cardano formally entered the cryptocurrency markets on October 1, 2017, trading slightly above USD 0.02. The value of the digital currency remained below 0.03 dollars until November 25, at which time the significant increase in its prices began.
Evolution in the prices of Cardano.
However, the big surprise was just in the days to come. Since 4 days the digital currency experienced a very significant increase in their prices. It went from 0.03 to 0.14 dollars, increasing its value by 300%. To get an idea of the profit margin, let’s see the following example:
If a person invested 100 USD when the coin cost 0.03 dollars, for November 29. That same individual would have seen their balances multiplied transforming the investment in more than 400 dollars in less than a week. Today, the cryptocurrency is, of the top ten, the one that had more significant growth lately.