The “Ethereum of Japan” – also referred to as Cardano (ADA) – is still quite a distance from its peak price. Just like Ripple (XRP) did, ADA hit is all-time high on January 4th. The Cardano price path briefly surpassed $1.20 for less than a day, before slowly beginning a gentle tumble downward. This coin gradually slipped below $0.70, then bounced back above the $0.90 mark before plummeting below $0.50. That is, until two days ago:
Since then, the Cardano coin has worked its way back to $0.66 – where it’s trading at the time of writing.
— Input Output (@InputOutputHK) January 19, 2018
At the moment, Cardano (ADA) is the 5th most valuable cryptocurrency on the worldwide market. Its market value is currently $12.3 billion. In front is Bitcoin Cash (BCH), which is worth $30.7 billion. Trailing ADA is Litecoin (LTC), which is valued at $10.8 billion.
How Cardano (ADA) Performs Crypto Scoring Systems:
According to CoinCheckup.com, this currency has an average daily return on investment (ROI) of 1.62%. Its average monthly ROI has been 281.95%. Meanwhile, its Volatility trailing 7 days is 39.63%. This Cardano price volatility trailing 30 days is 82.04%.
The Total Coin Analysis Score for Cardano (ADA) is 92.35%. Breaking down this score, there are a number of individual categories that make up a currency’s total percentage. This is how XRP stacks up:
- Activity on Social Media: 75%
- Team Strength: 100%
- Advisory Board Strength: 50%
- Product Strength: 94%
- Coin Strength: 93%
CoinCheckup uses a nice and straightforward points-based way to come up with these scores. You can check out how the Cardano coin fared by clicking here.
Is the Cardano Coin Still a Good Investment?
Well, at least a lot of people think so.
First, as we recently wrote about on this site, ADA got a massive boost of confidence from Finder.com. The site’s Cryptocurrency Predictions Survey just got released. Inside, it selects ADA as being one of the anticipated Top 3 coins of 2018. It even forecasts the price of each Cardano coin to reach $4.17 on or around February 1st.
If that can happen is still up in the air, but that’s not the only piece of good news for Cardano coin owners.
On top of that, there’s been other good news. A couple weeks ago, International Business Times released an article about how ADA futures are now tradeable on BitMEX. It’s only the second currency futures to be listed on that exchange, after Bitcoin (BTC).
And Cardano’s technology allows for faster and cheaper transactions compared to Ethereum (ETH), to which it is constantly compared.
But there are a lot of other hot up-and-coming altcoins that boast impressive features on par with Cardano. How much room do you think there is in the top 5 for an Ethereum alternative?
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.