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Should I still invest in Cardano in 2022?



 What is Cardano?

Cardano is a cryptocurrency developed in 2017. The blockchain network emerged as a project for which Ethereum co-founder Charles Hoskinson is responsible. Cardano uses the modern Proof-of-Stake consensus mechanism and is characterized by a combination of decentralization, scalability and security.

Cardano's network token is the ADA . Cardano will be further developed in several steps using scientific methods. This approach makes Cardano one of the most technically advanced blockchains on the market. Cardano has developed an extremely large fan base over the years.


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

The ADA price reached its all-time high of over 3 dollars in September 2021. As a result, the ADA token fell continuously. Even before the Bitcoin bear market that started in November, we saw losses on Cardano. That was because cryptocurrencies like Solana and Avalanche received more attention as direct competitors in the fourth quarter.


Then, since November, we've seen more losses as the bear market kicked in. Losses continued into 2022. The ADA price fell below the $0.50 mark. Cardano has lost 80% of its value since its all-time high.


Why was it worth investing in Cardano in the past?

Cardano was created in 2017 and experienced its first hype in the bull market of the same year. The crypto currency convinced investors with its scientific approach to further development. Over the years, Cardano has always been a network, which technically had a lot ahead of other blockchains.


In the past, more and more people started investing in Cardano, and the cryptocurrency built up a large following over time. Even in the 2018 bear market, Cardano was able to remain among the most valuable cryptocurrencies. Cardano earned the nickname “Ethereum killer” as many experts believe that Cardano has the potential to replace Ethereum as the leading platform for decentralized applications.


The ADA token continues to rank in the top 10 most valuable cryptocurrencies by market cap and Cardano fans continue to have strong support for the cryptocurrency. This is because Cardano does not focus much on short-term success in development, but has long-term development in mind.


With the introduction of smart contracts, prices exploded in September and investors were able to sell at the all-time high at a price 30 times lower than 1 year earlier. In the next few months the basho development phase will be in the foreground . There, the scalability of Cardano is to be massively increased.


Basho is phase 4 of years of development . Transaction speeds of up to 100,000 transactions per second are to be achieved with Basho. With these speeds, Cardano would be by far the fastest blockchain and could expand massively in the area of ​​dApps.


Should you invest in Cardano in 2022?

The last 9 months showed a clear downward trend for the ADA token. However, we mentioned the reasons beforehand and can be explained logically. But Cardano has come a long way and still has a bright future ahead of it. If Cardano's scalability increases massively, it could be massively worthwhile for you in the next bull market . It could therefore be worth investing in Cardano right now.


Especially in the bear market, the prices of cryptocurrencies like Cardano are extremely low and invite you to invest. Losses can occur in the short term and investors have to be patient. In the long term, however, an investment in Cardano could be very worthwhile.

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