Cardano (ADA) is one of the most outstanding but undervalued digital currency in the market. The digital currency boasts of a market cap of $3.54 billion and it is rapidly evolving and expanding its community with more than fifty-five countries and counting. Cardano (ADA) is presently swimming in the greens as the bulls are in control of the market.
The Community Database of Cardano (ADA) Is on the Increase
There have been a lot of developments around the digital currency lately, and there has been a significant expansion in its community as well. The members of Cardano community is growing from all around the world – according to a tweet by the Cardano Foundation.
The community members of Cardano are all over the world, including Africa, Europe, Australia, South America, North America, and Asia. Irrespective of the developments over the past few weeks, the value of the coin didn’t see much increase until June 29th when the coin saw an increase of over 16 percent in a space of twenty-four hours.
Why Cardano (ADA) Is Great Investment Option
Over the past couple of weeks, the digital currency has lost a significant percentage of its value. But the digital currency has the potential, as well as what it takes, to recover. One major thing that could have an effect on the growth of Cardano (ADA) is Bitcoin (BTC).
It is not a secret that the values of Bitcoin have a direct effect on most altcoins. Bitcoin has been sinking massively, but when it rises, it carries a lot of altcoins along. Two days ago, there was a hike of about 9 percent in the value of Bitcoin, and Cardano (ADA) followed suit, increasing by over 16% in twenty-four hours.
There are lots of predictions that the value of Bitcoin (BTC) will recover over the $12,000 mark before the end of this year. If this happens, Cardano (ADA) will likely retest the $1 level by the end of this year.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.