With thousands of cryptocurrencies existing today, competition is necessary to stand. Among the top cryptocurrencies fighting to stay on top is Cardano (ADA). After a rosy start to life, several challenges have plagued the crypto asset, reaching an all-time high of $3.10 in September 2021 before collapsing to $0.23 in 2023. Notable among these was […]
The post Cardano is Facing Tough Competition in 2024, Analysts Bullish on These 3 ADA Rivals to Record Bigger Gains appeared first on Coin Edition.
With thousands of cryptocurrencies existing today, competition is necessary to stand. Among the top cryptocurrencies fighting to stay on top is Cardano (ADA). After a rosy start to life, several challenges have plagued the crypto asset, reaching an all-time high of $3.10 in September 2021 before collapsing to $0.23 in 2023. Notable among these was the FTX collapse in 2022 and the SEC ruling of ADA as a security in 2023. Despite recent promises, investors couldn’t trust the sustainability of the new momentum. Avalanche (AVAX), Solana (SOL), and Retik Finance (RETIK) have become the top three rivals that analysts have pinpointed as the best alternatives for investors looking to record bigger gains in 2024.
Cardano (ADA) Woes
No doubt, Cardano, the Ethereum killer, has attracted investor’s attention due to its emphasis on development and peer-reviewed research. Its position as a solution to Ethereum scalability and security issues has helped the platform gain traction in 2024. ADA recorded a 180% increase in March from its value in October 2023. However, despite its recent surge, several cryptocurrencies have risen to rival it. Aside from the market and regulatory tur…
The post Cardano is Facing Tough Competition in 2024, Analysts Bullish on These 3 ADA Rivals to Record Bigger Gains appeared first on Coin Edition.
