Cardano (ADA) Still Holding Strong, Despite Market Crash

Cardano (ADA) Still Holding Strong, Despite Market Crash
  • Despite Market Crash Cardano Still Holding Strong
  • Cardano has stayed in the range of $1 to $1.20.
  • There have been similarities between ETH and ADA

Cardano launched in 2017 since launch its native token ADA has seen wild swings in price. AS an overview of a historic run start of 2021, Cardano (ADA) has broken its all-time high (ATH) of $1.18 set in 2018. Crypto markets have faced a pullback, with Cardano being no exception.

In May, Cardano’s (ADA) price become low, its previous all-time high looks to be acting as support.  Cardano has dropped less of its gains than other top ten coins when the market peaked, falling only 48% from its current all-time high of $2.47 reached on May 17. At the same time, other top cryptocurrencies are slowly declined in price, but Cardano has stayed in the range of $1 to $1.20.

According to market Cap, Cardano is the 3rd largest cryptocurrency, investors constantly regard Cardano as a hedge to Ethereum.  In a comparison with Ethereum (ETH), there have been similarities between ETH and ADA since the start of the current bull market.

Furthermore, the main reason behind the demand for ADA has held up so well is the Cardano staking model. In comparison with other Proof-of-Work coins, ADA is simple to understand and more accessible to the average investor. Leading exchanges such as Coinbase, Kraken, and Binance allow for one-click staking, making ADA a tempting investment for even casual crypto investors.

Cardano (ADA)

Cardano is a third-generation public blockchain and DApp development platform3. More so, the platform has gained attention from international media as the first blockchain to include peer-reviewed research. ADA is the native token of Cardano. ADA coin is one of the top cryptos in the market.

According to CoinMarketCap, the current price of ADA is $1.30 with a 24-hour trading volume of $1,667,693,434 at the time of writing. Cardano (ADA) has a circulating supply of 32.08B ADA coins. ADA holds the 5th position in the CoinMarketCap.

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