As of January 2021, around 4000 cryptocurrencies exist in the market. It means you have varied options when it comes to crypto asset investment. Most people are only interested in top cryptocurrencies like Bitcoin and Ethereum, which have the highest market capitalization value.
If you go by the Cardano price prediction, this cryptocurrency is expected to reach $10 by the end of 2021.
How Much Will You Need to Buy The Ethereum Cryptocurrency?
If you want to buy one Ethereum crypto coin, you have to spend around $1,785.24. It means you will need thousands of dollars to buy a few Ethereum coins. If you don’t have that much money to invest, you can consider Cardano, which is the 4th largest cryptocurrency in the market. Currently, the price of one Cardano crypto coin is $1.03. It means you can buy around 950+ Cardano crypto coins for $1000.
If you find this exciting, here are few more predictions for Cardano.
Price Prediction for 2022
The prices of Cardano will hover around $12 at the start of 2022. If the developers focus on specific developments, it will attract more investors, and the price is likely to reach $22 by the end of 2022.
Five Years Price Prediction
Cardano developers are working on several partnerships and integrations in the next five years. If everything goes as planned, you could see Cardano emerging as a more robust cryptocurrency in the market. If you look at the Cardano price prediction for the next five years, it might reach $100.
The prices of cryptocurrencies are constantly fluctuating, and you cannot tell whether Ethereum will maintain its position of 2nd largest cryptocurrency. If you invest in Ethereum and the cryptocurrency cannot maintain its market value, you will get a big jolt. On the other hand, if you can invest in Cardano, the risk of losing money is less, and the gains are comparatively higher.
Investors are always looking for options that need small investments but might give you higher returns. If you have a similar investment approach, you can consider investing in Cardano cryptocurrency. Here are some reasons that show why Cardano might be a better alternative to Ethereum.
What Is Cardano?
Cardano is the first blockchain platform developed after peer research. It means people involved in Cardano played an instrumental role in developing top cryptocurrencies that exist today. These crypto developers have insider knowledge of blockchain technology and know the drawbacks or weaknesses of earlier cryptocurrencies. They developed Cardano intending to make it superior and secure to existing cryptocurrencies.
Why Is Cardano Better Alternative to Ethereum?
Technology developments are essential for the growth of cryptocurrencies. According to experts, most cryptocurrencies depend on energy-intensive resources as proof of work. It is one of the drawbacks of mining-based cryptocurrencies. Cardano uses a proof of stake algorithm that reduces energy expenditures, invalidating the transactions.
The Proof-of-Stake is a revolutionary technology used by Cardano, and Ethereum is soon likely to follow in the footsteps of Cardano that is a clear indication of Cardano being a better alternative than Ethereum.
Here is a direct comparison between Cardano and Ethereum that will clear the picture.
Introduced on 30 July 2015, Ethereum is one of the oldest cryptocurrencies in the market. The blockchain transactions are performed online where miners and validators are connected to the blockchain network. The speed of transactions is an essential factor in determining the performance of the cryptocurrency. On average, Ethereum takes only 16 seconds to send funds to another user. It is pretty fast in comparison to traditional payment systems.
If you compare the speed of transactions, Cardano might be far superior to Ethereum. Cardano blockchain network can process 257 transactions per second. If you compare the speed with top cryptocurrencies, you will be surprised to know how slow Bitcoin and Ethereum can be. Bitcoin can process 4.6 transactions per second, while Ethereum can process 15 to 20 transactions per second.
Circulating supply is an essential factor in cryptocurrency. It refers to the number of tokens or crypto coins available and circulating in the market. A lower circulating supply means you will be required to pay a higher price for available tokens.
According to recent market reports, Ethereum circulating supply reached 115.07 million in 2021. There are around 31.2 billion ADA coins in circulation; ADA is the native cryptocurrency of the Cardano network.
To sum up, the market direction cannot be predicted precisely by anyone. You can only consider current and future price trends to decide which investment vehicle might be the best option. If you look at the current situation and coming trends, Cardano seems to be the strong candidate that offers good profit potential.