Cardano is Becoming Investors Choice, Says Simon Peters
CoinEdition
Published Mar 08, 2021 08:57AM ET
Cardano is Becoming Investors Choice, Says Simon Peters
- Etoro Group expert Simon Peter says that Cardano is becoming an investors’ choice.
- He made mention of this due to the high cost of Bitcoin nowadays.
Etoro Group crypto expert, Simon Peters says, Cardano (ADA) is becoming investors’ number one choice instead of Bitcoin (BTC).
Specifically, Simon shared his enthusiasm for ADA in a report titled “The next Bitcoin? Investors flock to new cryptocurrency ADA”.
Simon reportedly said this based on how Bitcoin price seems to be increasing faster on its highs in the crypto market. Presently, BTC stands at over $50,000, this looks too costly, unlike in previous years.
The BTC price surge has made many crypto investors look into other digital assets as an alternative to Bitcoin.
Moreover, last month, ADA had a relative increase of about 157% in trading. Cardano’s 157% occurred soon after it recorded a new all-time high of $1.45.
Apart from ADA, Simon also named other tokens that attracted investors’ interest. He mentioned IOTA (MIOTA) and Tron (TRX) to be precise.
Simon said,
“Investors are looking for the next Bitcoin, meaning they’re investing in cheaper tokens like Cardano’s ADA, IOTA, and Tron, all of which are priced around the $1 mark.”
According to CoinGecko, ADA stands at $1.12 with a 24-hour trading volume of $3.796, at the time of writing.
This article first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.