Ethereum, Cardano and Solana are three of the most popular cryptocurrencies in the market. They have promising future and great technology behind their projects. However, when it comes to their prices these days, they have been going through quite a bearish phase with Ethereum’s price being down more than 50%. This article will take a look at those three cryptos current situation and try to predict if any of them may have some bullish tailwinds in the near future.
Cardano is a project that aims to be more than just a cryptocurrency. It wants to become an advanced blockchain platform that will allow people to easily build their own smart contracts without much programming skills. Cardano’s team consists of some researchers and scientists who want to give the blockchain community something more sophisticated than just a simple cryptocurrency.
Cardano’s price has been in quite a bearish cycle since its all time high of $1.10 back in January 2018. While ADA’s price has been going down for long time, it still held fairly well during the February crypto crash. Cardano is currently ranked as number eight with $1 billion market cap and trading for about $0.14. From its all-time high, Cardano has lost more than 85%.
However, Cardano has been making some big moves in recent weeks. It just announced a major collaboration with Metaps Plus platform in South Korea, which is a big and strong mobile payments provider. With this new partnership, ADA will be used as the primary payment method on Metaps Plus platform and 1 billion ADA coins will be dedicated to new users who register through Metaps Plus app. Korean market is one of the biggest markets for cryptocurrencies and this huge news could drive Cardano’s price up quite a bit in near future.
Ethereum is the second most popular cryptocurrency in the world. It was the first to use its own decentralized blockchain called Ethereum Virtual Machine, which is currently being used by quite a few other cryptos. If you want to form smart contracts you could do it on Ethereum and then transfer it over a blockchain that other smart contract users will be able to use. This also means that there are no middle men like banks or companies in between what users want to do with their money.
Ethereum’s price has been in quite a bearish cycle for last few months. Since January, ETH price has fallen more than 90%. However, it is still ranked as number seven with $3 billion market cap and trading for about $109. Recently, Ethereum started to make some positive moves towards the level of cost it had before the crypto crash. Currently, Ethereum has already recovered more than 50% in just few weeks.
IOTA is another cryptocurrency that has been in bearish cycle for a few months. The project’s founder, David Sønstebø believes that there are two ways to understand cryptocurrencies: as an investment asset or as a technology platform. IOTA is a cryptocurrency that is solely focused on technology. It uses a different kind of blockchain called Tangle that is based on DAG (Directed Acyclic Graph).
IOTA’s price has been going down for last few months as well. IOTA’s all time high was $5 and it was trading around $1 in January 2018. IOTAs current price is around $0.48 and its market cap is around $0.9 billion, which means that it has lost more than 80% of its value since January.
In recent days, IOTA has been making some positive moves and the price has been going up quite a bit. From its all-time low of $0.33, IOTA has already recovered more than 40%. It is currently holding strong above the $0.4 level, which means that it will likely continue to rise in the near future.
Solana is an Ethereum based project that aims to be a decentralized supercomputer for running different types of applications in a very efficient way. This computer will be able to run many different decentralized apps at one time and process them much faster than any centralized supercomputers available today could do.
Solana’s price has been going down for a long time. It was holding quite well during the February crypto crash but since then it has been in a steady decline and it currently has lost nearly 80% of its value since January. Currently, Solana is ranked as number nine with $3 billion market cap and trading for about $0.14. Solana’s price hasn’t really moved much since the start of this year. The project’s price is just below its all time high of $0.57, which was reached back in December 2017.