Is ADA the new Bitcoin?

Is ADA the new Bitcoin?

The past couple of months have seen turbulence and volatility in the world of digital currency, as particular coins, like Bitcoin, soared in value and some of the others closely followed. The popularity is on the rise and a wide-spread usage can be seen on the horizon, as more and more companies accept the new asset holding method. A new possible transaction method using digital currencies is also possible in the near future, with Tesla’s newest investment, prompting the named possibility. And as the trending crypto phase continues, investors are already looking at new, prominent coins to invest in, with one particular token exploding in value.

The domestic token of the Cardano blockchain called ADA is considered one of the most noteworthy coins exploding in value. Cardano’s novice “golden goose” is much like other cryptocurrencies, with the possibility of any user in the world handling it as a safe exchange of value. Cardano blockchain is similar to the Bitcoin technology, as it stores all transactions ever made on a single ledger. 

The current pricing of the coin is $1,39 per token and if you caught a piece of the action in 2020, you could’ve attained ADA for only 20 cents per coin. According to expert sources, ADA has experienced a 157 percent increase in trading, when looking at the past month with an all-time high of $1,45 on the last week of February. Investors familiarized with the market are already searching for Bitcoin alternatives, which will gain them the upper hand before the next big digital coin upswing.

The market is definitely on a road of expansion, meaning that rather on switching all of their focus on Bitcoin and Ethereum solely, where only a fraction of the coin can be owned, investors are looking for coins that are now priced the same way BTC and ETH were a couple of years ago. It seems that they are on a search for the Bitcoin successor – they are investing in Cardano’s ADA, Tron and IOTA, all of them priced somewhere around the $1 mark. This treasure hunt for the next Bitcoin will most definitely intensify in the future, if we know that the market is widening and other coins are slowly but surely gaining their own audiences and popularity. 

If we look at it closely, the overall trend in the crypto world is acceptance, meaning that the more larger companies invest in it or trade with it, the more legitimacy it sustains. We’ve had the chance to see a very busy month for Bitcoin and Ethereum, as well as the entire beginning of the year. Both coins have experienced high volatility, but the wider adoption narrative resumes to power both digital coins. 

To conclude, real-world cases of cryptocurrency adoption keep piling up, so it is a question of when rather than if these assets will become more widely used in everyday life. In this case, it is expected that the volatility will possibly continue, as with all up-and-coming assets; Cryptocurrency is only at the beginning of its journey and an expanding trajectory is what the future holds for it.