Most of the invesors have started to get worried about the value of Cardano (ADA). The coin had shown some very positive upward trend previously. In the month of December 2017 to the beginning of January 2018 the value of the coin had appreciated so rapidly reaching an all-time high of $1.28 from about $0.1 at the beginning of December 2017.
However, after hitting the $1.33, the value of the coin has depreciated so rapidly over the past one month to sell at $0.346514 USD.
It even looks as if the coin is headed to its starting value of $0.02. At the rate at which it has depreciated over the past one month, it is now at a breaking point. If it goes lower than that, it may be headed to an all-time low and investors should brace for tough times ahead.
Cardano (ADA) seems to be the worst hit cryptocurrencies by the after-December price retracement. It has depreciated by 98% compared to most of the major cryptocurrencies whose depreciation is about 20% and some like Siacoin have started appreciating.
But are there any signs of Cardano (ADA) ever appreciating?
Considering that the coin is so green, this may be its testing times. If it pulls through this, its value will surely move up.
There were great expectations in mid-December that the ADA coin would get to $10 due to the rate at which it was rising, but I don’t know how many still hold those dreams at this time. It will take real concrete data analysis to hold onto this and at the moment there seems to be no hope at all.
Nevertheless, even with the drop in its value, the volume of Cardano being traded during a period of 24 hours is increasing. Even at the price of $0.346514, the volume traded stands at 1,338,390,000 compared to 593,430,000 on 4th January, 2018 when it was at its highest value of $1.33.
The rise in the value may still be possible considering the rise in the traded volume which shows more investors are still finding this crypto coin worthy investing in by trading.
Also, Cardano (ADA) is still in its early stages. According to its development team, for now the coin is just in its first layer, referred to “Byron”. The next phase, duped “Shelley”, is expected to be rolled out this year, 2018, possibly after the first quarter is over.
Therefore, we may witness a drop in prices up to the beginning of the second quarter of the year. And after that the prices might go up especially after the unveiling of the second phase of Cardano development. This second phase will enable investors to tailor their contracts and maintain privacy when do so. This will be a step higher to the current situation where investors are only able to do basic transactions using the ADA token.
Again, the prices of any financial asset hardly goes below its starting value. And since the value of Cardano (ADA) is very close to its starting value, investors can still have hopes of the prices rising again especially at the beginning of the second phase of its development.