It’s a slow start to the week for cryptocurrencies. The markets entered the weekend on news that the SEC was going after ICO influencers, and nothing much in terms of major positive news releases with regards to specific coins or the market in general.
This explains the relatively weak start to the week considering that overall momentum is still weak. However, these relatively uninspiring price movements are an opportunity for long-term investors to accumulate on coins that have good prospects for growth, such as Cardano (ADA). So, why Cardano (ADA)? Well, most projects in the top 10 are solid, but Cardano stands out due to its price at this point relative to its fundamentals and the scope of what it is aiming to achieve. It is one of the most undervalued projects in the top 10 at this point when priced at just over $0.04 from a high of over $1.
One of the factors that make Cardano stand out is the potentially mature nature of its partnerships, even though blockchain adoption is still in its infancy. Ever since the 2017 crypto bubble popped, investors have been demanding more proof of adoption from blockchain projects.
Quite understandable given that most projects are now being exposed as vaporware, just out to get rich off uninformed investors. Unfortunately, this increased pressure to prove adoption has forced many projects to seek low-value partnerships that may add no long-term value. Cardano is one of the few projects that hasn’t bowed down to such market pressure. That’s because the goal was long-term sustainability from the get-go, and all indications are that Cardano (ADA)’s partnerships once they come will not be with obscure entities. They will be transformative.
For instance, earlier this year, Cardano signed a memorandum of understanding with the Ethiopian government to drive up the use of Cardano in the country’s Agritech industry. It also has working relationships with a number of Asian and other African countries as well. This is just a pointer of how big Cardano intends to go. It doesn’t need PR partnerships just to pump up prices. Its partnerships will add real value in the world and by extension the value of Cardano (ADA).
Cardano is also working to solve the problem of scalability that has become a challenge for most blockchain projects including Bitcoin (BTC) and Ethereum (ETH). For instance, the idea of parallel chains could see Cardano (ADA) scale to millions of users per second, without affecting network stability in any way. This will allow for the mass adoption of Cardano (ADA) as blockchain goes mainstream.
With such powerful technical capabilities and potential for adoption by among others governments, Cardano comes across as heavily undervalued. As blockchain becomes more adopted in society, Cardano thanks to its strong fundamentals in the market, will be among the most adopted. With such strong fundamentals, Cardano is a solid hold for long-term investors. The moment bitcoin rebounds and the whole market enters a new bull phase, Cardano (ADA) will probably be among the biggest gainers in crypto sphere.