Eco-friendly cryptocurrency Cardano ADA/USD ranks as 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 ETH/USD.
Unlike Ethereum and Bitcoin BTC/USD, which are proof-of-work cryptocurrencies, 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 the eighth-largest cryptocurrency with a market capitalization of $17 billion.
Cardano hit an all-time high in September 2021, a level significantly higher than where the coin trades today.
Investing $100: Cardano hit its all-time high of $3.10 in September 2021. The coin trades at $0.5065 at the time of writing.
A $100 investment in Cardano today could purchase 197.4334 ADA coins. If Cardano returns to its all-time highs, the $100 investment would be worth $612.04. This represents a potential return of 512%.
There is no guarantee cryptocurrencies will return to levels seen last year. The article is an exercise to demonstrate how a small investment could add up over time if cryptocurrencies can bounce back.
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