ETH - Up 48% Is Now the Time to Buy Cardano?
2023-05-25 06:57:00 ET
Over the past five months, Cardano (CRYPTO: ADA) has largely kept pace with blockchain rival Ethereum (CRYPTO: ETH), making it one of the surprise crypto stories of the year. In the aftermath of The Merge, many investors expected Ethereum to decisively break away from all of its blockchain challengers, but that doesn't seem to be happening. For the year, Ethereum is up 55%, while Cardano is up 48%.
Cardano has finally started to have success in key areas of the blockchain world where it has historically lagged, but some investors are still skeptical. Just how much longer can Cardano continue to keep up with Ethereum? If you're thinking about buying Cardano now, here are a few points to consider.
While all the attention has been on Ethereum's recent technological upgrades, Cardano has been upgrading its blockchain network as well. In fall 2022, Cardano completed its Vasil upgrade, which brought further functionality to the blockchain in terms of being able to handle smart contracts . These smart contracts are small pieces of self-executable computer code that make it possible to create sophisticated decentralized finance (DeFi) offerings.
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Up 48%, Is Now the Time to Buy Cardano?