This trader reveals the best reasons for investing Cardano (ADA) now!

In a recent video, crypto KOL Toby from Crypto Tips shares his bullish optimism on Cardano (ADA), which is currently his third-largest position, and reasons for potential explosions in the future.

this-trader-reveals-the-best-reasons-for-investing-cardano-ada-now

Cardano Updates

Recently, Cardano has announced its launch of the first cross-chain bridge with link to Nervos.

Public chain projects Nervos and Cardano said they plan to enable interoperability across their platforms within the next six weeks. The bridge furthers their goals of discovering the industry’s “Bluetooth moment”.

The launch is significant because it links two ecosystems worth billions of dollars in terms of market capitalization. The bridge is expected to reduce transaction costs across both platforms’ cryptocurrencies while reducing the burden for users to possess different wallets to access features from both networks.

Reasons to buy ADA

The first reason on the analyst’s list is due to Cardano current staked amount.

“There’s a huge amount of Cardano being staked right now. There’s about 40 billion coins being staked and that is out of 53 billion total supply, so that is 73.58% of all the coins of Cardano staked right”.

He adds:

“That’s why the price has been done so well right now during the 53% dip in Bitcoin and people are making great profits on Cardano”

Another reason that makes Cardano a valuable investment is its technological sustainability.

“Although Ethereum is a much bigger network, ADA’s transaction times is 100 faster than Ethereum”,

“In its early days, Cardano could handle only around 10 transactions per second. However, Hoskinson released a paper recently explaining a new scaling solution for the network – Hydra. Hydra is a Layer 2 scaling solution that utilizes state channels to process transactions off-chain. Using this technology, Cardano is able to process over one million transactions per second”.

Moreover, as a third-generation cryptocurrency, Cardano attempts to tackle some of the most common issues facing large-scale blockchain adoption. These issues cover the gambit of blockchain including topics such as scalability, interoperability, and sustainability.

https://www.youtube.com/watch?v=6uc1Yn-S0ow

Disclaimer: Opinions expressed at AZCoin News are not investment advice. Investors should do their due diligence before making any high-risk investments in cryptocurrencies. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. AZCoin News does not recommend the buying or selling of any cryptocurrencies.

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