Having started off their operations in October 2017, Cardano has stunned the markets with its performance. Cardano price performance and stability, in a very short span of time impressed millions of users. The currency, which was created in October, has been in the list of the top 10 cryptocurrencies by market-cap for quite some time now, which is an incredible feat for Cardano. Cardano impressed us again this week, as it was seemingly unaffected by the recent fall in crypto prices.
At a time when most cryptocurrencies were facing a crash in the price, Cardano seemed quite stable. While the price of Cardano too, took a hit, but it was not as bad as most cryptos such as Tron which took a beating of over 15%! Not only did Cardano remain relatively stable, but the currency has also shown a 4% growth over the past 24 hours! Cardano (ADA) began the day at a price of $0.14 and a market cap of $3.8 Billion rose to a high of $0.16 – and closed the day at $0.156 (market cap of $4 Billion). The currency, over the past 24 hours, gained $200 Million.
Over the week, Cardano (ADA) prices went from $0.18 to $0.156 – which is a fall, but not as drastic as many other currencies have gone through over the past week. Cardano's price performance has impressed many investors and it is expected that more money may be pumped into this currency in the days to follow due to this trust in the stability of Cardano prices. The currency began the week at a price of $0.18 and a market cap of $4.8 Billion and closed the week at $0.156 and a market cap of $3.8 Billion.
As the graph above indicates, Cardano prices did take a hit, but it was momentarily and the currency has broken past the line of the downtrend as it looks forward towards a bigger recovery. The market bears have noticed this strong act of resistance from Cardano and are now expected to invest in the currency, helping it break further past this downtrend and getting a major surge in the price. It is a good time to invest in Cardano but investors are advised to wait for a day to ensure if the uptrend continues!
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