ADA becomes the 3rd largest crypto achieving what was always meant to be. The cryptocurrency has a lot of features making it one of the best investments right now. At the same time, the arrival of smart contracts will make it even better and advanced. But do note that even after pumping and making all-time highs in the last few days, ADA’s market cap is still just at $90 billion which is less than 1/4th of Ethereum’s market cap at $390 billion.
The recent rally
The price of ADA is already nearing $3 which is pretty high considering it was just at $1.2 nearly 3 weeks back. Cardano has pumped significantly as Bitcoin has recovered and the markets are bullish due to the arrival of smart contracts on the platform. Another important thing this rally shows is the sheer potential and market demand of the coin. Its because ADA is one of the few tokens that has made an all-time high after the crash. Even yesterday as markets pumped and Bitcoin crossed $50k for the first time in 3 months ADA resgitered double digit gains.
ADA’s smart contracts and future
Smart contracts are going to be one of the primary features of the currency. It will allow users to lock in funds based on a contract and keep a decentralized bond online. For example two people Sarah and James could make a contract that Sarah will pay James $500 once he delivers the artwork Sarah has asked for. The idea is that the network will securely validate the transactions between the individuals involved in a contract.
Another major benefit of ADA that BTC doesn’t have and ETH won’t anytime soon is the proof of stake mechanism. It is much more efficient, environmental friendly and allows users to earn a lot of interst on top of the gains their tokens make. This is great for those who want to generate a passive income from their tokens. So, ADA’s price rise seems justifiable and I think it is still a great buy at this price. The token has a bright future and I am surely going to HODL my coins for the next 5 years at least.
What are your thoughts on ADA as it becomes the 3rd largest crypto? And do you think that it could cross ETH in the future? Let us know in the comments below. Also, if you found our content inforamtive do like and share it with your friends.
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