Cardano Skyrockets By 117%, Finally Reaches $10.4 Billion Market Cap

Keeping up with the cryptocurrency race has been particularly exciting in the last few weeks of 2017.

While traders may discount the fact that Bitcoin reigned supreme during the last year, other cryptocurrencies are slowly edging towards giving the leading cryptocurrency a run for its top spot.

To name a few, Ripple just recently unseated Ethereum after a surge of 84% in just a day. Meanwhile, Litecoin leaped by as much as 333% in less than a week, whereas TRON managed to once outperform Bitcoin on December 14, 2017.

On December 16, 2017, Cardano was added to the top 10 list of cryptocurrencies to watch out for after demonstrating an exemplary performance.

As per chart at CoinMarketCap, Cardano’s ADA leaped as much as 117% in less than 24 hours. As of press time, the coin is trading at $0.713548.

Cardano Price Cryptocurrencies to Watch Out 2018

Cardano is fondly dubbed as the “Ethereum of Japan” since the majority of the participants and traders in its Initial Coin Offering (ICO) were mainly cryptocurrency investors based in Japan.

The rise of Cardano has long been attributed to its meticulous research-based approach backed by a team of experts, academics, and scientists who have studied the Blockchain technology.

ADA, the coin of Cardano, has been around since early 2015. It  is best described as a fully open-source and decentralized Blockchain Project. Charles Hoskinson, one of the co-founders of Ethereum, established this cryptocurrency together with his colleague at IOHK, Jeremy Wood.

With the recent surge exhibited by ADA, there is no doubt that traders will continue to grow their interest in this cryptocurrency this year.