Is It Right Time To Buy Cardano (ADA) During Dip
The Crypto market is definitely unpredictable as we all know that a coin that was launched as a joke is now flying high. Dogecoin was just a joke coin when it started but it just took the rocket and went to the moon within hours while holding the 11th position by market cap. On the other hand, Cardano (ADA) was launched with the vision of the future doing things differently.
Cardano is open-source and decentralized, with consensus achieved using proof of stake. It is the first blockchain to be found in peer-reviewed research. Cardano follows a slow and steady method where the growth which the platform has achieved since its inception is huge. Moreover, the launch of the smart contract was a hit which literally drove ADA’s price action to reach highs in September. Despite the market crash, ADA managed to outperform the mainstream cryptocurrencies while BTC lost 11% in the past 30 days but ADA gained 7.6%.
Cardano Is Optimistic
There are several reasons to invest in Cardano during the dip while the first and foremost factor is that the Cardano network has a plan. They are indulged with a mission and vision for their ecosystem which triggers users to anticipate. Cardano has clearly described their roadmap on their website which depicts the goals for the future. The platform intends to create economic identities on the blockchain. Additionally, the network plans to establish a transparent system credit score that allows the poorest people to use financial services.
Consequently, Cardano has a list of applications to launch on its platform in the first quarter of 2022. One application that is currently attracting more people is SundaeSwap, a DEX where users can swap and earn cryptos. Similarly, solutions for real-world issues are the game changer in any sector. Most of the cryptocurrencies solve issues within the crypto community but Cardano plays different, being out of the box. It has partnered with governments and organizations portraying the thoughts of blockchain to the world.
The eyes which lay behind the project are the most significant factor that people should look into. In such a case, Cardano’s founder, Charles Hoskinson, is a popular figure among the crypto world who partially helped Ethereum. He has created this platform with a strong foundation consisting of a great team of talent. Moreover, IOHK behind the platform has over 400 people working across 50 countries.
As mentioned previously, Cardano uses a proof-of-stake model, which allows people only who own coins can help to validate transactions. Thus, users can hold Cardano, can stake and earn income which illustrates to be less risky.
Furthermore, investing and trading cryptocurrencies are at high risk as we can’t measure the development of a particular token. As listed, there are many more reasonable options to buy Cardano but not sure when the price will turn down. Therefore, doing your own research and investing in projects is appreciable while ADA is also one of the potential projects to consider.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
