Cardano (ADA) is one of the lesser-known coins on the Top 5 Most Valuable cryptocurrencies ranking. At the time of writing, the Cardano coin is trading at 75 cents a pop. That makes it the most accessible coin when it comes to per-unit price. You can own dozens of ADA coins, and with that same amount of money only get a tiny fraction of Ethereum (ETH) or Bitcoin (BTC). It’s mostly a mental thing, but having more than 1.0 coins of a currency feels reassuring to the average crypto investor.
While Cardano (ADA) coin may be the cheapest of the top 5, it’s also had the worst trading day so far. In the past 24 hours, ADA has declined in value by 13%. That brings its one-week loss to an unfortunate 26%.
Nevertheless, this coin has gained 249% in the past month – that’s an impressive boost! Maybe the current downswing is presenting an entrance opportunity. Maybe when the next rally hits, it’ll soar past the $1.00 mark.
The Cardano Coin is a Top Contender
This crypto coin has just passed through two pretty massive milestones – both of which really solidify it as a top altcoin.
First, as we recently pointed out, ADA got a massive boost of confidence from Finder.com. The site’s Cryptocurrency Predictions Survey just came out. In it, they name ADA coin as being one of the expected Top 3 coins of 2018. It even projects the price of each Cardano coin to hit $4.17 on February 1st.
Whether that will happen is still up in the air, but that’s not the only piece of good news for coin holders. On Friday, International Business Times published an article about how ADA futures are now available on BitMEX.
Michael Parsons, the Chairman of the Cardano Foundation, re-tweeted the article:
— Michael Parsons (@BitcoinByte) January 11, 2018
Mr. Parsons noted that Cardano is only the SECOND crypto coin to be introduced on a futures exchange. The only other cryptocurrency futures that have been featured on BitMEX is Bitcoin (BTC).
“It took bitcoin eight years to get onto a futures exchange,” Parsons said. “We took two years from inception and three months from launch.”
Well, Cardano (ADA) journey to being the next BTC or the next top altcoin is certainly on the right footing. Being the second coin futures option of BitMEX is massive.
Doesn’t look like this coin will be fading into the background anytime soon.
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.