How 3 days old Cardano (ADA) made its position among Top 20 crypto coins on CoinMarketCap

in #cryptocurrency4 years ago (edited)

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CARDANO was launched few days ago and its trading was started on Bittrex on October 2nd, 2017. What attracted me towards this coin was that it appeared on Top 100 list of CoinMarketCap out of blue and started on 17th rank, currently its on 16th.

I decided to dig further about this coin and find out how the ranking system works on CoinMarketCap.

Cardano aka ADA is founded by Hoskinson which was part of early development phase of Ethereum. This coin is developed using Haskell programming language, featuring more secure blockchain. So far it is being said, that it has Ethereum like functionalities, Its current price right now is $0.021146. Its price fluctuation can be more accurately analyzed at least after one week. So far it looks like this.

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The factor which plays important role for ranking in CoinMarketCap is Market Capitalization which is currently $548,798,302 for Cardano.

Market Capitalization is determined using following formula.
Market Cap = Price x Circulating Supply

So far this coin looks interesting to trade, i you want to know more about this coin then you can visit following link
Cardano Hub


Image credits: 1, 2

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thats mean theres a bank or somthing like dat use it

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great news my friend

Yeah, I just researched on ADA as it's in top 20 coins but so many projects to keep track of. This is like the internet bubble of 2000. You think most of the projects seems good to invest in. Hope this is one of them.

I agree, many good new icos are still coming, hard to keep track all of them.

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