Altcoin Cardano Surges By 130% In 2 Days

Altcoin Cardano Surges By 130% In 2 Days

The altcrypto Cardano raised its value from $0.22 to 0.52, which is more than 130% growth in just 24 hours. The market value of Cardano is now estimated to be more than $13.5 billion, being more than DASH and IOTA and getting closer to Litecoin.

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The altcrypto Cardano raised its value from $0.22 to 0.52, which is more than 130% growth in just 24 hours. The market value of Cardano is now estimated to be more than $13.5 billion, being more than DASH and IOTA and getting closer to Litecoin.

Not long ago, Bittrex and Binance integrated ADA to their systems, which led to Cardano’s price going up by 400%. CoinMarketCap reports that these are the largest cryptocurrency exchanges and Bittrex alone has a daily trading volume of $2.8 billion. When a new cryptocurrency is added on the market, it instantly becomes available for trade between users.

Cardano’s blockchain was popular among the community way before ADA integration to exchange platforms, because of the proof-of-stake consensus protocol it has. Many people favor PoS protocol and even Ethereum are working on its implementation through Casper. Maybe we have the right to say PoS geeks will play a part in the surge of Cardano price.

The news about Cardano quickly triggered a response from Litecoin’s Charlie Lee. He seriously questions the real value of Cardano (ADA) and wonders how it is possible it reached #6 spot on CoinMarketCap in just three months. The project itself is really 3 months old and some do not believe it is worth the estimated $13.5 billion. Lee adds that despite his respect of the crew behind Cardano and the project’s potential he is still unsure about the numbers.

Other cryptocurrencies have also been heavily criticized. For example, Ethereum alongside with its applications and ecosystem are not commercially successful but they are still $69 billion network. Generally speaking, blockchain network market cap is not as easy to justify. Cryptocurrencies and blockchain user bases define their potential value. We have to take into account user activity, user base, applications, etc.

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