Cardano (ADA) Isn’t For The Weak Hands: Keep That In Mind To Reap Huge Returns
It doesn’t really matter that Cardano (ADA) has been replaced by Stellar (XLM) in 7th place on the cryptocurrency ranking site CoinMarketCap.com. What matters is that ADA retains the stardust that has seen it gain solid support from across the crypto community. So the recent setback is just that, a setback.
The IOHK team alongside Emurgo and Cardano Foundation are building a platform that is expected to reach global adoption in coming years. And that’s why ADA isn’t for the weak hands. If an investor comes into it with short-term expectations, more often than not, disappointment is very likely.
Cardano is a work in evolution
ADA isn’t one of those hype-frenzy coins. It’s also not a blue-chip coin that has an established and mature platform like Ethereum. Cardano is a work in evolution, development is done via the efforts of the IOHK and peer-reviewed before being availed to the community.
At the moment, there is a lot going on for the coin, it’s easy to see where the optimism in the community originates. The team has their hands full with ongoing research. As the crypto’s London meet-up invite states, these include “incentives for stake pools, delegation mechanisms, sidechains, blockchain software updates, treasury systems and others”
The platform has a lot to prove when it comes to attracting developers from sites like Ethereum, NEO, EOS, and Lisk. All these are competing in the dApps and smart contracts field. What will make ADA come on top? Its research and more research, sometimes painstakingly slow to the liking of the community.
The Cardano roadmap
Cardano recently updated their roadmap, making adjustments to the design and appearance. According to the IOHK team, “the redesign will completely redefine how you understand IOHK projects and evolves how we communicate as a company”
For any investor who buys ADA, understanding that it’s about supporting the course is very important. The developers know the value attached to token prices by investors. However, while they are working to make the platform deliver through adoption, it’s not ready to compromise on research. That explains the detailed roadmap that takes into account the need for scientific rigor.
The team is guided by three principles in the development of the platform’s roadmap. It maintains that “the growth of the community and its needs; second, a distributed and resilient network true to the original vision of Satoshi, and third, balancing the pace of research and development so commercial advantage does not win out over the application of scientific rigor.”
The truth of the matter is that no other project is as thorough as Cardano in its development. The result is a community that believes in the project and a platform that is likely to be here to the end. To help it penetrate the tough market are its Ouroboros protocol, the Daedalus wallet, and its Haskell programming language.
What all these means is that if you are looking for a coin to make a quick buck on, then ADA isn’t one of them. it will grow and gain but its true value is five or so years down the road. By then, ADA could be well over $10 and for early adopters who HODL, returns will be astronomical.
Cardano market and price
The current market and performance of the ADA coin should not be used to make pre-judgments about the project. The coin has endured a tough 2018, its prices being pulverized by the bearish trends. The coin, however, did rally in April to briefly surpass Litecoin in the market rankings. That has been followed by the May price decline, that culminates in Stellar overtaking it.
Currently, ADA trades at $0.20 against the US dollar. It has dropped by 2.45% in the last 24 hours and by 7.60% over the last 7 days. In the month of May, Cardano has lost value by -32%. However, over 6 months, the coin has gained by 108%.
At the current price, the coin presents an attractively low entry point for new investors. The only caution is that don’t expect very huge returns within days. Going long is the best bet for you.