Cardano recently bounced back from its support zone after testing a new all-time low at $0.4019. The coin is up by 5% today during the Asian session and is trading at $0.5420.
Cardano Coin, no doubt, is one of the institutional favourite coins with a market capitalization of $17,889,268,629. The coin has become the investors’ favourite because it has been designed with a sustainable and scalable blockchain platform for running smart contracts. The flexibility of this coin has made room for the development of a vast range of decentralised finance apps(dApps), new crypto tokens, games, and a lot more.
What is the use case of the Cardano Coin?
The primary use case of the Cardano Coin lies in the fact that it is a decentralised means of payment like Bitcoin and Ethereum. The Cardano Coin is today regarded as the “Japanese Ethereum” because of its dominance in the region. It is now made available to users through ATMs and debit cards in Japan today.
Vital reasons to buy Cardano Coin today
An Eco-friendly and energy-efficient coin
Today, the Cardano Coin is one of the best green-life supporting and energy-efficient coins that consume less energy from the environment to carry out its smart contracts. The Cardano Coin requires only six gigawatts per hour to carry out its smart contracts. This is in high contrast to BTC and ETH, which need 130 and 50 terawatts per hour. Cardano uses less energy to complete its intelligent contracts because it uses a proof of stake mechanism to verify transactions. This is unlike Bitcoin and Ethereum, which use the validation of the work model. The evidence of the work ecosystem incorporates a more significant number of devices which leads to very high energy consumption.
Cardano is one of the favourite cryptocurrencies that have the potential to replace Bitcoin and Ethereum. The sensitization to climate change and the need to revive an eco-friendly system heightens.
Cardano ADA Forecast
The Cardano ADA Coin, no doubt, is on a solid uptrend, with its first resistance located at $0.7880. A break above this resistance will open the way to $1.20. However, this coin has been predicted to rise to at least $5 in 2022 by experts in the long term.
