![]() This bearish trend continued for almost two years, with ADA price staying under $0.10 for the most part and even trading below $0.02 during the March 2020 market crash.Īccording to our ADA live chart, the coin started to show some signs of revival only around July 2020 and breached the $0.15 resistance after a long time on July 26. However, a gradual downtrend followed soon after, which spiraled into a market-wide bearish phase by mid-2018. The timing proved just right for ADA coin, and it rallied on to hit an all-time high of around $1.3 on Jan. This was the time when the crypto market was gearing up for a major bull run. ADA priceĪDA price remained in the vicinity of $0.02 post its launch in September 2017. The coin is also actively used to pay transaction fees on the Cardano network. Holders can also delegate or pledge their ADA coins to a staking pool and earn rewards. While the ADA cryptocurrency can be actively used for secure exchange of value without any third-party mediation, each ADA holder receives a stake in the Cardano network too and can participate in its governance. However, the project is not without its detractors and is often criticized for its slow pace of development and an overly academic approach. Cardano network is positioned towards "changemakers, innovators and visionaries" in the Web3.0 space. It facilitates easy creation, deployment and running of smart contracts and DApps, thereby directly rivaling Ethereum. ![]() Cardano’s development is collectively supervised and overseen by Emurgo, IOG (Input Output Global) and the Swiss-based Cardano Foundation.Ĭardano dubs itself as the third-generation blockchain which aims to solve the scalability and inefficiency issues of its proof-of-work predecessors, namely – BTC and ETH – in an eco-friendly way. The token is named after Ada Lovelace, a 19th-century mathematician and computer programmer. Launched in 2107 by Charles Hoskinson, one of Ethereum’s co-founders, ADA is the native coin of Cardano, a decentralized proof-of-stake (PoS) blockchain platform.
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