Eco-friendly cryptocurrency Cardano (CRYPTO: ADA) is one of the most valuable cryptos based on market capitalization. Here’s a look at the history of the coin and how much an investment could be worth if Cardano can make new highs.
What Happened: Development for Cardano began in 2015 with an official launch in 2017. The cryptocurrency was created by Charles Hoskinson, who is one of the co-founders of Ethereum (CRYPTO: ETH).
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Cardano is a proof-of-stake cryptocurrency that is credited as being eco-friendly. As a popular alternative to Ethereum, Cardano has seen its coin price rise over the years and the coin is now the eight-largest cryptocurrency with a market capitalization of $32 billion.
The all-time high for Cardano was hit in September 2021 with the coin now trading well below the figure.
Related Link: 5 Things You Might Not Know About Charles Hoskinson: Cardano Founder And Ethereum Co-Founder
Investing $100 In Cardano: With the use cases for Cardano increasing with more features for the blockchain and the increased calls for eco-friendly cryptocurrencies, Cardano could see a rise in its value.
A $100 investment in Cardano today could purchase 105.54 ADA.
Cardano hit an all-time high of $3.10 in 2021.
If Cardano can return to its all-time highs, the $100 investment would be worth $327.17, representing a gain of 227%.