The price of Cardano (ADA) hit its all time record high, it is the fourth largest digital currency by market capitalization. The price of ADA in 2023 has gone from $0.18 to $1.85, this is a significant increase percentage wise and tells us that investors are highly confident in Cardano.
One should note that ADA is a competitor to Ethereum’s ETH, launched by an Ethereum co-founder. The goal of this blockchain is to be fast and highly scalable. The proof of work (PoW) mechanism used greatly achieves this feat. Compared to ETH, it is very fast with less transaction fees.
The crypto bull market may have been triggered by Elon Musk’s involvement with Bitcoin and DogeCoin. Twitter has been lit with crypto fever as Elon having discontinued with Bitcoin as a means of payment, many are excited about what is in store for Cardano and ADA.
Big plans for Cardano (ADA) is coming
Cardano is moving on up the crypto ladder, the foundation’s parent company recently partnered with World Mobile Group, this partnership sets Cardano to expand into African countries like Tanzania and Ethiopia.