By Tyler - Crypto Broker - 01-12-2021
Since Cardano (ADA) has been seeing an incredible run as of late, investors want to know if the crypto market investment is worth purchasing for long-term investing. In this article we will be looking into whether or not people should be buying ADA crypto tokens or if they should sell their stash while the prices are hot. To begin with, we have seen the price for ADA to rise exponentially over the last year. A year ago now, ADA was trading at a low $0.15 before rising to $2.96 10 months later.
The founder of Cardano, Charles Hoskinson, had built Cardano by copying Ethereum’s (ETH) most loved and best functions after leaving the Ethereum Network. Aside from using Ether’s best quality features, Charles had found solutions for Ethereum’s biggest flaws, making Cardano a better version of the second biggest cryptocurrency’s network. Despite being functionally better than Ether, Cardano’s true value really relies on its native developer’s applications. Even though Cardano’s worth is limited to the creation of applications within its ecosystem, this has greatly brought the price to buy ADA up by 800% in 2021. However, in more recent months, ADA has been witnessing a decline.
Since September 1, ADA has fallen by a total of 48%. Reportedly, the first drop occurred when Cardano was experiencing a price correction. The second and much large price plunge happened with eToro delisted the token when they realised ADA has some undisclosed regulatory problems. Despite some of its harsh drops in price, Cardano undeniably has a strong fan base that supports the token and it's network.