Cardano has become one of the largest cryptocurrencies in the world. With a market cap of around $90 billion, it now ranks third after Bitcoin and Etherium. With a 24-hour trading volume of $8.2 billion, Cardano has left behind Binance Coin and Tether with a market cap of $89 billion, which now stand at the fourth and fifth positions respectively. Cardano is currently circulating at about 71% of the max supply. For those wondering how many Cardano ADA coins are there, the total amount of coins are 45 billion.
Is Cardano a good investment?
To understand whether Cardano is a good investment or not, a one year review of the Cardano price can be taken into consideration. On August 24, 2020, the Cardaon price was about $0.12 and floated around the same for the next couple of months. On November 26, 2020, the price of Cardano rose to $0.138 and set up camp at the range. However, it was on February 20, 2021, that Cardano first crossed the $1 threshold. Thereafter, the ADA coin touched its peak (until then) on May 16, 2021, when the price was about $2.3.
While compiling this report, the price is heading towards $3, currently being $2.79 (August 23, 2021). Considering this pattern, Cardano might touch the $3 threshold by the end of this year, making it a good investment option for short term investors. For long term investors, the price of Cardano is predicted to touch $10 in the next five years. The bullish nature of the cryptocurrency suggests a steep graph in the near future. Cardano itself is expecting the prices to rise as high as $3.63 in the coming month.
While a Cardano price prediction 2040 is impossible to speculate at the moment, the cryptocurrency is expected to rise to $10 rather quickly. ADA is expecting a rise to $3.63 soon. If the investors keep on putting their fortunes in the coin, it might explode to $5 in near future. Additionally, a new update for Cardano is expected to hit the coin on September 12, 2021, which is expected to surge the price even higher. However, do keep in mind that cryptocurrencies are highly volatile in nature, the recent crash being the biggest example of the same.
Where to buy Cardano?
There are several cryptocurrency exchanges that allow users to invest in Cardano from India. Among the list are BuyUCoin, WazirX and Bitbns. If a first-time investor is visiting these platforms, the website might ask for a few details such as identification card, name, date of birth and more. These details are required for registration and once shared, are used to recognise the investor on such platforms.