Cardano (ADA) hasn’t had the best 24-hour trading period. It’s trading at 90 cents apiece. That’s an 11% drop from its price 24 hours ago. The “Ethereum of Japan” isn’t even having as good as a day as the coin it’s constantly compared to – ETH.
But it’s not just this coin that’s been having a rough go of it, as a number of other top altcoins have dipped in the past 24 hours. Ripple (XRP) is down by 22%. It was the second most valuable cryptocurrency until Ethereum (ETH) knocked it into third place a day ago. Bitcoin Cash (BCH) is down 11%. NEM (XEM) is down 8%, and Litecoin (LTC) is trading 12% lower than it was a day ago.
In fact, the only top-10 most valuable cryptocurrency that is in the green today is Ethereum (ETH). Cardano is known as the “Ethereum of Japan.”
What is next for Cardano (ADA)?
The current downswing may actually be presenting an opportunity. This crypto coin is still a major player, and it offers a ton of advantages over Ethereum (ETH).
An just today, this cryptocurrency just got listed on BitMEX – a top cryptocurrency trading platform. It is now listed on the futures exchange at BitMEX. The last exchange to announce its featuring of ADA was Bittrex in October. At this point, Cardano is listed on five exchanges.
— ADA (@ADAcoin_) January 8, 2018
With this type of news, you’d think that the price of ADA would be surging – but it has retreated slightly. Maybe this is the buying opportunity that some potential Cardano buyers have been waiting for.
Or maybe this is the start of a larger pullback. If you own Cardano – what are you going to do?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.