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Cardano course rises massively - is the breakthrough of the cryptocurrency coming?

 


What is Cardano?

Cardano is a blockchain network founded in 2017. The founder is Ethereum co-founder Charles Hoskinson. Cardano is characterized by being a modern, fast and secure blockchain that is being developed gradually and with a long-term goal. Cardano takes an evidence-based approach.

Cardano's network token is the ADA. It is responsible for communication in the network. Cardano is characterized by high security, good scalability and a clear development plan. Cardano analyzes the weaknesses of other blockchains with scientists and improves them on its own blockchain.


How has the Cardano price moved in the last few months?

The last few months have been particularly tough for Cardano’s ADA token. In September, the ADA rate was still over 3 dollars and thus reached an all-time high. In the months that followed, the Cardano price fell significantly. This was partly due to the rise of other highly scalable blockchains such as Solana and Avalanche.

With the big change in mood on the market at the turn of the year, the Cardano price fell even more. From over $3 in September, it went down to under $0.50 in May 2022. Cardano recorded one of the biggest losses of the top cryptocurrencies on the market. While Bitcoin has lost almost 60% since its all-time high, Cardano has lost over 75%.

What brought the increase in the Cardano price at the end of May?

The Cardano (ADA) price saw massive gains in a short-term surge in the crypto market in late May 2022 , with Bitcoin surging from $29,000 to over $32,000. However, Bitcoin's roughly 10% increase was much smaller compared to the gains in the Cardano course.

The ADA token in Cardano increased in price by about 35%. The Cardano price rose from $0.46 to a value of up to $0.69 within a few days. T he price increases result from extremely positive expectations of the upcoming Vasil hard fork. This upgrade is intended to significantly increase the throughput and speed of the blockchain.


Can Cardano continue to rise in the medium term?

Cardano's losses over the past few months have been extreme. These losses contrast with the positive news from the Cardano environment and the steady positive development. Already at the turn of the year we saw a massive increase in the available Cardano addresses. Most recently, Cardano broke the 5 million asset mark, including many NFTs created on the Cardano blockchain.


CARDANO Roadmap

Due to the constant further development, the long-term future of Cardano looks bright. But even in the medium term, the Cardano course should possibly rise again. The Vasil Hadfork was intended to be an important step towards increasing the scalability of the network. Cardano could soon become the fastest blockchain on the market.


Is an investment in Cardano worth it?

An investment in Cardano's ADA token could be worthwhile at the moment and bring high returns in the coming weeks and months. Because the Cardano course still has extreme growth potential after the massive losses. It is not for nothing that we included Cardano (ADA) in the list of cryptocurrencies for the bear market .


Due to the Vasil hard fork and the increase in scalability as part of the basho development phase of Cardano, there should be a good possibility that the Cardano price will rise in the next few months.

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