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The vast majority of retail client accounts lose money when trading CFDs.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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Cardano-ADA rebounds from support zone $0.4019

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.

Last Updated: 23/05/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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