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Cardano {ADA} garners support after IOHK head teases upcoming updates; ADA may contest against TRX

Bitcoin

Cardano is ranked at #13 on coinmarketcap, beneath TRON so far. The price of ADA soared slightly, at a rate of 0.61%. The trading volume recorded in the course of the past 24-hours is $46.243 million, while the supply has 25,927,070,538 ADA coins in plays as of this moment. The total market cap of Cardano is $1.327, whereas the price of ADA stands at $0.051185 in the market.

StockTwits is known for their “Most Watched” lists. Currently, Cardano is hotter than both IOTA and NEO, with almost 15,000 watchers looking out for new developments. It is the 8th most popular virtual currency right now. However, TRON is still better in comparison to Cardano, as it is ranked at #5 on this list.

The development team backing Cardano have received an overwhelmingly positive response. Their rating is 73 points higher in comparison to Ethereum and a whopping 230 points higher when paired against the team for EOS.

Charles Hoskinson who is headlining the project, had mentioned a release by the close of August. In response to this tweet, many expressed doubt. This is probably because of how Justin Sun has previously made promises via Twitter but has failed to abide by them [the big highlight would be the Warren Buffett lunch which remains postponed for now].

Even though the market hasn’t always been kind to ADA, the network as a whole is pretty advanced. The main goal of the Cardano Foundation and Emurgo is to revolutionize the field of smart contracts. If Cardano manages to hold on to their identity as a research-based high roller, things will undoubtedly fair well in the near future.

ADA is mineable, and follows a Proof-of-Stake algorithm [for more information, read up on Ouroboros].

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.