ADA gained more than 46% last week thanks to exciting developments on the Cardano Blockchain. Continue reading to learn more about the Cardano developments as well as where you can buy ADA.
Cardano has often been dubbed the “Ethereum killer”, and with exciting recent developments on its blockchain, it’s starting to look like it might live up to its moniker.
The project is generating a lot of buzz at the moment. Keep reading to learn more about Cardano and where to purchase ADA.
Where and how to buy Cardano in UK and other countries
A fully-compliant and regulated broker or exchange is the best place to buy ADA — or for that matter, any other cryptocurrency. There are many options, but here are our top choices for Cardano-buying platforms.
eToro, one of the most popular multi-asset trading platforms in the world, offers some of the best commission and fee rates in this industry. Its social copy-trading features make it an ideal choice for people just starting out.
Get ADA today with eToro
NAGA is a social trading platform which allows users to trade the most popular forex, stocks, and cryptos in the world. The platform allows users to automatically copy the strategies and best traders.
Get ADA from NAGA now
What is Cardano? Why is it pumping?
Charles Hoskinson is the co-founder of Ethereum and Cardano is a Proof of Stake crypto platform. This project is innovative and uses peer-reviewed research. It also uses evidence-based methodologies. As a token of value, the native ADA token may be used for staking on and to transfer it.
Hoskinson offered an interview on Tuesday. updateOn the project, he stated that the date for the Alonzo hardfork (which will bring smart contract to Cardano), would be announced today while adding that it would take place before the Cardano Summit.
ADA rallied to a two-month high of $1.74 on the day of Hoskinson’s update. Today, it is up over 46% and broke through resistance at $2 for the first-time since May. According to CoinGecko Cardano surpassed Binance Coin, Tether and Tether to be the third-largest cryptocurrency in terms of market capital.
Do I have to purchase ADA today?
The Cardano blockchain’s latest developments could make it a great time for ADA to be purchased. Ethereum is currently transitioning to Proof of Stake. This should resolve its issues of congestion and high gas prices. Cardano may be the first to achieve smart contract functionality, before Ethereum moves on to Proof of Stake.
This could result in a surge of Ethereum-based projects and applications that use Cardano. As the main means of value exchange on the blockchain and the token that will power future Cardano-based apps and services, demand for ADA could skyrocket in the coming months, driving up the token’s price.
Econ 101 – Supply and Demand
— Card₳no Dan 🇺🇸 🇯🇵 🇪🇹 🇹🇿 🌑 ADA (@CardanoDan) August 13, 2021
ADA price prediction
The relative strength index (RSI), which shows ADA as being overbought on daily charts, could lead to some consolidation while the bulls build their strength and push higher. The ADA price’s all-time high will be at $2.50. After that, rising demand could see it reach $3 by the end of the year.