Could Cardano (ADA) Still be Profitable?

875 0 0 0 0 0 (0)


It is a known fact that one of the aims of non-profit organizations is to actually make a profit. Hence, most investors push their capital in the direction where they are sure of at least a long-term profit, even if a profit isn't expected in the short-term. Cardano (ADA) is the 7th cryptocurrency in market capitalization, ranking with a market cap of about $5.42 billion and a value of less than $0.25 per ADA.

In the last few days, its price was bearish and dropped by more than 18% due to the challenge with Upbit exchange, which trades more than 35% of the entire ADA in circulation. Presently, out of the total ADA in total supply, about 83.33% of it is in circulation. More concerning is that, in the past 30 days, ADA price has dropped by more than 70% and trading volume reduced by more than 80%. This information is sufficient to enough discourage an investor from buying the coin, even though it has one of the most trusted and transparent teams in the industry.

However, based on the factors below, I believe that Cardano (ADA) could still be profitable:

1) Weiss rating: 

There are many rating firms and research organizations that rate the performance of an organization with respect to their equals. However, one of the research results that could not be ignored, due to their track record of honesty, is Weiss rating. The rating released in May 2018 assigns a letter grade to each company:  A= excellence, B= good, C=- fair, D= weak, E= very weak, and F= not recommended. Among the 93 cryptocurrencies that were rated, none of them scored an A or B+. However, about 14 scored B and B-. Cardano (ADA) scored B along with EOS and Decred, which shows how credible the project is.

2) Research penetration into Africa: 

The Cardano (ADA) team are moving from one nation to another, telling people about the benefits of using the project. They recently signed a MoU with the Ethiopian government, that will see the use of the project in their agricultural sector, and the Cardano (ADA) team began training Ethiopians in software development. The success of this partnership will open the door for acceptance by other governments in Africa.

3) The Centra card: 

Cardano (ADA) is one of the few projects, like BTC, LTC, ETH, DASH and XMR, that Centra adopted to use its card accepted worldwide with more than 36 million cards in existence. This will enable ADA to be traded within the Centra decentralized cryptocurrency trading platform among other cryptocurrencies. This proves that ADA is gaining acceptance by many companies that are seeing its usefulness.

Based on these three factors, coupled with the great team that Cardano (ADA) has, I am certain that ADA is a cryptocurrency that will benefit its investors.

Join the Conversation on Telegram

Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content

Comments (0)

Recent Updates

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Consumer Healthcare Total Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Consumer Helathcare Other of which Gold Bond Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Polio/Pertussis/Hib Vaccines (incl. Hexaxim/Hexyon, Pentacel, Pentaxim and Imovax) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Influenza Vaccines (incl. Vaxigrip, Fluzone HD, Fluzone, Flublok) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Meningitis/Pneumo Vaccines (incl. Menactra) Revenue

  •   
    Jan 19, 2019 9:38 AM

    Sanofi SA (ADR) - Vaccines Adult Booster Vaccines (incl. Adacel) Revenue