The cryptocurrency’s all-time high was set on May 16 this year, when it hit $2.46.
10,000 ADA (the Cardano blockchain platform’s cryptocurrency) were worth $24,600 at the time, representing a return of more than 2,300%.
The fact that an investment return can change so drastically in a matter of weeks only demonstrates how volatile a cryptocurrency investment can be.
While the prices of bitcoin and other crypto are unsteady — shooting up and crashing down, cardano’s price isn’t as unstable as the others. So far it has managed to keep its footing.
Credits to cardano’s versatility as a crypto, the strong team behind it, and its devoted following since its inception in 2017.
ADA is also an eco-friendly cryptocurrency, which has grown in importance as people become more aware of bitcoin’s environmental impact.
Cardano was worth $0.10 two years ago. If you had invested $1,000 at that time, you would have received 10,000 ADA today.
Cardano’s price is at $1.06 based on tracking by Coingecko, Tuesday. Your initial $1,000 investment is now worth $12,000. This equates to a 1,100% return.
However, it’s not cardano’s current price that excites investors, but what it can potentially do in the future.
It’s simple to purchase, as it’s available on a number of popular cryptocurrency exchanges.
Crypto enthusiasts hold high regard for the founder of Cardano.
It is environmentally friendly because of its low energy consumption.
It also has a wide range of potential real-world applications and isn’t one of the many cryptocurrencies that rely on hype.
Image courtesy of Cointelegraph News/YouTube
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