Cardano (ADA) is said to be one of the most promising cryptocurrencies and blockchain-based projects in the market.
On the head with Charles Hoskinson, leader and CEO of one of the teams working on Cardano, ADA is made special thanks to the Ouroboros protocol.
Alongside its uniqueness, ADA is looking forward to a breakthrough in form of representing a third generation cryptocurrency once the project acquires solutions for interoperability, sustainability, and scalability, which are said to be the core issues of the blockchain space.
Even though Charles Hoskinson already announced Sharding protocol as a viable solution for achieving scalability in an already fast ecosystem that ADA represents as the 9th largest crypto, ADA is seen in a decline.
Cardano Price Today: ADA is Dropping in Search for Redemption in the Market
The majority of cryptocurrencies had a chance to acquire some serious gains in the first days of November 2018, however, the tables turned pretty soon in favor of the returning negative market trends.
That is how Cardano wasn’t able to acquire any notable gains during the last week, which sent ADA down to the red, showing a negative momentum in the market.
In the course of the last 7 days, ADA dropped by -0.23% against the fiat, which is not a severe decline especially once compared with the rest of its top peers.
Cardano (ADA) Price Today – ADA / USD
It seems that ADA is still looking for redemption in the market, slightly inclined towards getting at least some minor gains on its weekly chart, however, Cardano is still declining by nearly -1% in the last 24 hours.
Although the crypto couldn’t profit from the latest rebound as much as ADA investors would have wanted, ADA is still showing positive returns on bi-weekly and monthly charts, still marking it a progressive crypto when it comes to the market growth.
Cardano Price: ADA Up by over 200% on the Year to Date Charts
Although ADA is seen in a minor decline with the beginning of another week, being pulled down by dominant, negative market trends; Cardano is still showing progress on its year to date charts.
In the course of the last year, ADA went up by nearly 210%, which secures a positive return on a YTD level even with the present dips and declines.
Moreover, ADA is rising by 3% in the course of the last 4 weeks and 14% in the period of the last two months, even though it lost a horrific set of -93% of declines since making its all-time high back at the beginning of 2018.
ADA made a record price of 1.18$ back in January, however, we can now see it traded at the value of 0.075$ still far from its all-time high despite the yearly gains.
Market statistics might set to change in favor of ADA in the market once Cardano teams present their scalability solution implementation to the system, that way making ADA closer to its goal of carrying the title of the third generation cryptocurrency.
For now, ADA appears to be far from the goal of 1$ per one unit.