Down 33% in 3 Months, Is Cardano Still a Buy With $1,500?
Cardano's (CRYPTO: ADA) price fell by 33% during the past three months, and it's also been a laggard compared to its larger competitors in the cryptocurrency sector during the past three years, falling 9% while Bitcoin is up roughly 115%.So, is this dip a buying opportunity or a warning sign that there's something to avoid, even with a modest investment of about $1,500? Let's start by examining the investment thesis for this coin and whether it's succeeding at what it set out to do.In a nutshell, Cardano was created by one of the co-founders of Ethereum (CRYPTO: ETH) with the intent of making a chain that would have better technical characteristics as a result of a deliberate, consensus-driven, and heavily peer-reviewed technology development process in contrast to Ethereum's supposedly more disorganized approach. Much like Ethereum, Cardano aims to become an attractive place to launch decentralized finance (DeFi) apps, among other types of projects. By way of its better technology, it could thus offer a superior user experience, including lower gas (user) fees and faster transaction times, at least in theory.Continue reading
Cardano's (CRYPTO: ADA) price fell by 33% during the past three months, and it's also been a laggard compared to its larger competitors in the cryptocurrency sector during the past three years, falling 9% while Bitcoin is up roughly 115%.
So, is this dip a buying opportunity or a warning sign that there's something to avoid, even with a modest investment of about $1,500? Let's start by examining the investment thesis for this coin and whether it's succeeding at what it set out to do.
In a nutshell, Cardano was created by one of the co-founders of Ethereum (CRYPTO: ETH) with the intent of making a chain that would have better technical characteristics as a result of a deliberate, consensus-driven, and heavily peer-reviewed technology development process in contrast to Ethereum's supposedly more disorganized approach. Much like Ethereum, Cardano aims to become an attractive place to launch decentralized finance (DeFi) apps, among other types of projects. By way of its better technology, it could thus offer a superior user experience, including lower gas (user) fees and faster transaction times, at least in theory.
