Initially, Cardano (abbr. ADA) was conceived as a peer-reviewed decentralized blockchain protocol to process a huge flow of transactions at low cost. Therefore, it was mainly the target audience that was tired of Ethereum who wanted to buy and sell ADA. As a result, users received the infrastructure of smart contracts without any drawbacks. The massive interest in Cardano turned into its entry into the TOP of the cryptocurrency rating.
Buy and sell ADA – and only?
Thematic altcoin combines the properties of the favorites of the cryptocurrency market – BTC and ETH. However, the ADA ecosystem provides different branches and functions that are characteristic of the third generation blockchain. Potential users are captivated by the fact that ADA is based on peer-reviewed data. This is indicative of changes and features involving licensed scientists.
To prevent users from rushing to exchange ADA, the developers thought about the following features and bonuses:
● Issuance of rewards to all active users as part of the security program (players can use their coins in surveys on protocol changes and improvements);
● Creation of smart contracts and decentralized applications;
● Instant sending and receiving of funds;
● Participation of tokens in the staking systеm;
● Security and scalability through 2-tier architecture – CSL and CCL (Cardano Settlement Layer and Cardano Computation Layer, respectively);
● Collaboration versatility (one of the ADA IOHK partners provides Atala SCAN to protect users from counterfeit products in the retail sector).
Today, it is enough to mention the linking of Cardano to Proof-of-Stake for an advanced user to be convinced of the prospects of a thematic altcoin. Initially, ADA was considered as a DeFi systеm, and now operations to buy, sell, exchange ADA set records on different exchanges. The DEX platform SundaeSwap was recently launched. Its peculiarity lies in its functioning due to the Cardano blockchain. This launch resulted in a record increase in wallets and TVL investments.
Buy ADA – follow the whales
Despite the launch of a decentralized DEX exchange, the ADA rate is in no hurry to set a new record. This can be blamed on the dependence of altcoins on bitcoin. However, the relationship between the favorite and outsiders, annoying to all traders, is not endless. The fact is that large players who are interested in Cardano have appeared on the horizon:
● During the January drawdown to $1.02, holders of more than 10,000 ADA doubled their reserves;
● Analysts at Santiment calculated the total holding of ADA by whales at 96.2 million tokens, twice as much as previously.
Over a two-week period, major players were able to buy ADA by spending over $53M. One can be skeptical about the influence of the thematic contingent on the Cardano rate. However, it is the whales that dictate the trend to the market. In general, the number of ADA wallets has approached 3 million.
Last year, after the fork of Alonzo, which launched smart contracts on the blockchain, ADA entered the top of the list of cryptocurrencies, second only to ethereum and bitcoin. If the favorites are not regularly invested and updated, then this year they may be forced out by ADA. The corresponding scenario is already making itself felt on some sites: the Kraken exchange said that Cardano is ahead of Ethereum due to optimization.
