Bitcoin’s (BTC) volatility hitting its lowest since late 2018 has forced investors to turn to altcoins that could act as more lucrative investments in their portfolios. Cardano (ADA) has been one of the largest benefactors of this move. Its price has rallied around 400% in 2020; its market capitalization has almost quadrupled to surpass Bitcoin SV (BSV); and it has become the fifth-largest cryptocurrency in circulation by market capitalization.
The recent price rally has demonstrated the faith the community and industry have in Cardano’s roadmap, its vision and its founder, Charles Hoskinson. The project, however, is still in its nascent stages. There is still a lot for Cardano to prove in terms of executing its plans and gaining recognition among prominent entities like Ethereum.