With interesting enhancements to the Cardano blockchain, the ADA currency gained more than 46% in the last week. Read on to discover the latest Cardano developments and where to buy ADA
Cardano has often been dubbed the “killer of Ethereum”, and with the exciting recent developments in his blockchain, it’s starting to look like he lives up to his moniker. There is a lot of excitement surrounding the project at the moment and if you want to know why, read on to find out what Cardano is and where you can buy ADA.
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How & where to buy Cardano in Brazil and elsewhere
A fully compliant and regulated broker or exchange is the best option for buying ADA – or any other cryptocurrency. There is a wide range of options, but to keep it simple, here are some of our top recommendations for Cardano buying platforms:
eTorus
eToro supports cryptocurrency trading in over 180 countries around the world in addition to 48 US states. The platform offers some of the lowest exchange rates and commissions in the industry. buy-coin-with-brand-today Disclaimer
ForexTB
ForexTB offers over 300 desirable financial assets to choose from. On ForexTB, you can dive into global markets and trade CFDs on Forex assets such as EUR/USD, GBP/USD CFDs, or trade on commodities such as Gold, Silver and Crude Oil. buy-coin-with-brand-today Disclaimer
What is Cardano and why is it increasing?
Cardano is a Proof of Stake blockchain platform created by Ethereum co-founder Charles Hoskinson. The project incorporates innovative technologies and focuses on peer-reviewed research and evidence-based methods. The native ADA token is used as a means of exchanging value and for staking the network. On Tuesday, Hoskinson provided a update about the project in which he said the date of Alonzo’s next hard fork (which will bring smart contracts to Cardano) would be announced today, adding that it would be before the Cardano Summit in September. ADA rose to a two-month high of $1.74 on the day of Hoskinson’s update. It is now up 46% in the last seven days and has broken the $2 resistance today for the first time since May. The rally saw Cardano overtake Binance Coin and Tether to become the third largest cryptocurrency by market value this morning, according to CoinGecko.
Should I buy the ADA today?
The latest developments in the Cardano blockchain could be a great time to buy ADA. Ethereum is in the process of transitioning to Proof Of Stake, which is expected to resolve its congestion and high gas costs issues. But it looks like Cardano will achieve smart contract functionality before Ethereum switches to Proof Of Stake. That could mean an influx of Ethereum-based apps and other projects that want to build on Cardano. As the primary means of exchanging value in the blockchain and the token that will drive future Cardano-based applications and services, demand for ADA could skyrocket in the coming months, driving up the price of the token.
Econ 101 – Supply and Demand 70% + of circulating $ADA is staked (not for sale). Demand about to go parabolic with launch of #Cardano smart contracts. ? — Card₳no Dan ?? ?? ?? ?? ADA ADA (@CardanoDan) August 13, 2022
ADA: price forecast
With the Relative Strength Index (RSI) showing that the ADA is highly overbought on the daily chart, we may see some consolidation in the near term as bulls gather their strength to push up. The obvious target for the ADA price will then be the all-time high of around $2.50, after which increased demand could see the token test $3 before the end of this year.
