Cardano's ADA Could be the Third Largest Cryptocurrency

Today we’re taking a look back at Cardano which was able to erase some of the losses earlier this week on Wednesday. It’s price moved back up to the resistance level of $0.60, up around 7% from Tuesday lows. But it still has a long way to get back up to its all-time high level of $1.26. Last week, Cardano’s ADA token was listed on the futures exchange at BitMEX. This made BitMEX the fifth exchange to list the ADA token since Bittrex did so in October 2017, followed by Upbit, Binance and Coinnest. ADA calls itself the first third-generation cryptocurrency and aims to tackle scaling and infrastructure problems of bitcoin and Ethereum. Specifically, Cardano aims to solve problems related to scalability, interoperability, and sustainability on cryptocurrency platforms. Cardano is often referred to as the “Japanese Ethereum” and reports last year indicated that it was being made available in Japan through ATMs and debit cards. However, Cardano’s ADA has the same flaw as other cryptocurrencies. It has little to show by way of implementation. Regardless, a price comparison website, Finder.com has predicted that Cardano will be the third largest cryptocurrency by the end of the year. In a volatile market like this, only time will tell. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.

Cardano (CURRENCY:ADA) traded up 41% against the dollar during the twenty-four hour period ending at 12:00 PM E.T. on January 18th. One Cardano coin can currently be bought for $0.68 or 0.00005850 BTC on cryptocurrency exchanges including Binance, Coinnest, Upbit and Mr. Exchange. In the last seven days, Cardano has traded 5.3% lower against the dollar. Cardano has a total market cap of $17.75 billion and approximately $1.67 billion worth of Cardano was traded on exchanges in the last 24 hours.

Buying and Selling Cardano

Cardano can be traded on the following cryptocurrency exchanges: Gate.io, Upbit, Binance, Coinnest, Mr. Exchange and Bittrex. It is not presently possible to purchase Cardano directly using U.S. dollars. Investors seeking to trade Cardano must first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Cardano using one of the exchanges listed above.

Cardano Lists ADA Futures on BitMEX

Why Cardano could keep growing