Cardano (ADA) is one of the latest cryptocurrencies to be developed. The cryptocurrency was launched in November 2017 and it has outdone most of the cryptocurrencies that were developed way before it. The amazing thing with Cardano is that despite the fact that it is still struggling with the value of its token, the ADA, the crypto coin still remains in the top 10 list of cryptocurrencies.
Cardano ADA is performing far much better compared to some other popular altcoins like Dash, Vechain, Zcash, Dogecoin and the like. Currently, the Cardano (ADA) is ranked at position 7 according to its market capitalization. Its market at the moment is $5,635,948,812 USD with a daily trading volume of $110,545,000. Its current value is $0.217377 USD.
How is Cardano able to maintain such a huge market cap yet it is valued less?
The big question in most investors is how this cryptocurrency is able to consistently maintain a huge market capitalization despite struggling with its market value.
You all know that market cap is a product of the total circulating coin supply and the value of the coin. Therefore, this leaves us with only one explanation as to why the market cap is huge. It means, there are a lot of coins circulating the market.
Looking at the daily volume of ADA used in transactions, you will realize that all those circulating coins are being used rather than laying idle yet being released by the development team.
The circulating coin supply of Cardano is almost 1.5 times larger than that of Bitcoin, which is the first crypto coin in terms of market capitalization.
When the value of Cardano (ADA) increases, then this cryptocurrency will be the largest in terms of Market capitalization. Going by the way it is being developed layer after layer, then by the time it will be completely completed, the coin Cardano will be way ahead of Bitcoin.
It is interesting to note that the crypto currency is being developed layer after layer so as to make it easy to enable upgrades.
Is there any hopes for the ADA value going up any time soon?
The Cardano ADA is still being developed with the current stage being the Goguen, which once completed will enable the blockchain network to run smart contracts. And through the smart contracts, the network will also be able to handle Decentralized Applications.
This cryptocurrency have a very great potential and it is just a matter of time before it gets above all the cryptocurrencies that have been developed.