Cardano is the sixth biggest cryptocurrency by market cap. After a prolonged losing streak, which saw it fall from the fourth position, it’s finally starting to gain value again. If you missed buying it at its lower price and are wondering if it’s too late to buy Cardano today, you’re about to find out.
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What is Cardano?
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair.
Cardano was founded back in 2017, and named after the 16th century Italian polymath Gerolamo Cardano. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.
The team behind the layered blockchain say that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity.
Should I buy Cardano today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never take any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
Cardano price prediction
According to FX Street, Cardano is headed for a 20% upswing toward $1.78. It’s currently trading for $0.20 below that after overcoming the resistance barrier at $1.48.
Cardano on social media
— Renato Carmo (@renatocarmo__) December 16, 2021