Cardano is known for its deliberate pace of development. Rather than rush to market with half-baked code, Cardano moves at its own speed, giving thoughtful consideration to the long-term goals based on five sequential eras (phases of development). The project boasts an extremely loyal following and attractive staking rewards, but is Cardano a good investment?
The project was founded in 2017 to address some of the shortcomings of Ethereum at the time, including scalability. At the helm, Charles Hoskinson, a co-founder of the Ethereum project, keeps the community updated and discusses the state of the chain and the industry through frequent fireside chats. In this guide, we’ll explore the history of Cardano (ADA) and look toward the future to see what lies ahead for ADA investors
Is ADA a good investment? To answer the question, let’s begin with Cardano’s performance relative to other cryptocurrencies. Many within the ADA community see Cardano as a long-term investment. If you’re looking for parabolic growth like you might see with the latest meme coins, you may not find that with ADA in the short term. Instead, a steady climb is more likely, albeit with a solid floor due to a loyal following and dependable staking rewards, currently about 3%.
ADA first traded at $0.02 following the initial distribution of tokens between 2015 and 2017. Within three months, ADA traded at $1.31. By the height of 2021’s crypto bull run, Cardano’s ADA token reached a price of $3.10, a 15400% increase. However, like other top projects in the crypto market, Cardano’s price fell dramatically throughout late 2021 and 2022 before beginning to recover in 2023. As of this writing, ADA trades at $0.48.
