Is Cardano Expected to Rise soon? 

Introduction

Cardano is one of the biggest Cryptocurrencies after Bitcoin and Ethereum and a few others. This coin ranks as the eighth most valuable Cryptocurrency in the world today with its market capitalization above 13 billion in 2022. Cardano aims to solve the limitations found in Bitcoin and other Cryptocurrencies with its improved scalability and speed in completing transactions. Notwithstanding the current bear season menacing the crypto market today, many investors are today still attracted to investing in the Cardano coin particularly due to the recently announced Alonzo upgrade on its blockchain to execute smart contracts. This upgrade which was announced by its developers in September 2021 has been a boon to the  Cardano project attracting many investors to it since 2022. 

Consequently, the price has managed to stay above $0.32 all through the massive fall in prices for all Cryptocurrencies due to the bear season and is currently trading above $0.40 in October 2022. 

This work will therefore help you learn more about the Cardano coin, its price history, and the impact the current Alonzo smart contracts upgrade on its blockchain will likely have on this project once completed. You will also learn from this work how to buy Cardano and the best Crypto exchange recommended for you to do so.

What is Cardano

Cardano is an important Cryptocurrency designed to become a third-generation blockchain and to make up for the limitations in other Cryptocurrencies, especially Bitcoin and Ethereum.  It uses the proof-of-stake mechanism called Ouroboros which makes it very easy and secure to carry out transactions on its network.

Price history of the Cardano 

Cardano has witnessed massive price growth from its creation to the present moment. The price has yielded over 2600% from its issue price of $0.0026 up to its all-time high created at $3.10 in October 2021. At present, the bulls have managed to keep the price above $0.030 despite the current bearish market which affected the price of all Cryptocurrencies today.

Will the current smart contract upgrade in Cardano cause the price to rise soon in 2022?

Running smart contracts is a very important aspect of a blockchain that attracts large investors to interact more often on the blockchain thereby creating higher demand for the coin over time. Cardano has hitherto not included this on its blockchain. However, on September 21, 2021, the Cardano developers announced that the team will be upgrading the network to run smart contracts using the Alonzo hard fork. This news has so much excited investors and attracted large investors to this project. Many investors are optimistic that the price of the Cardano coin will surge more before the completion of this upgrade. Some have predicted that the Cardano coin will be worth more than $0.80 before the end of 2022 while others believe that the Cardano coin might reach $1.0 by year end.

How to trade Cardano

The Cardano Coin can be traded both as Spot and CFD. The major difference between these two is that the spot trading positions offer the trader real ownership of the Cardano Coin purchased which he can sell at a higher price in the future.

On the contrary, trading the Cardano Coin as CFD does not offer the trader a legal claim over the Cardano Coin bargained as it is merely a contract for difference entered into with the CFD brokers or other crypto exchanges that offer CFD trading in form of Futures or Margin trading. 

List of Best Ten Crypto Exchanges to buy Cardano

  • eToro
  • Capital.com
  • Binance 
  • Kraken
  • Bitstamp 
  • Kucoin 
  • Coinbase 
  • Huobi Global  
  • Kraken 
  • Bitfinex

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