Ardor (ARDR) is having a stupendous day. This cryptocurrency is currently trading at $1.93 – a 40% boost from its price 24 hours ago. This is the second time in the past week that this coin has neared the $2.00 mark. Check out the Ardor coin price chart over the last seven days:
It seems like the resistance at $2.00 might stick around. This coin has certainly teased investors a few times this month – jumping higher than $2.00 before quickly retreating toward $1.50 again.
Will this be another swing-cycle let down? Or, will this be the time that the Ardor coin price finally breaks out?
What Kind of Technology is Bolstering the Ardor Coin Price?
ARDR is a strong currency because of the technology that backs it up. This coin is the native token of a blockchain-as-a-Service (BaaS) platform. Much like the Ethereum network, the Ardor network supports new cryptocurrencies being built on the network – using the same code.
With this platform, unlike with Ethereum, the new blockchains that launch on the network are referred to as “child chains.” The big draw with child chains is that new crypto coins can be created without any coding knowledge necessary. It’s a sort of “out of the box and ready to use” approach to the BaaS concept.
A lot of people have been getting excited about the promise of this blockchain variation. That’s why the Ardor coin price rally has been so strong today.
On top of supporting child chains, the “parent chain” remains connected to every new blockchain launched on top of it. It is so scalable that tons of new child chains can be added, but the entire ecosystem will be synced in a worldwide architecture.
Ardor is constantly referred to as “The Next NXT” – do you think it is? It’s already the 28th most valuable cryptocurrency on the market.
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.