I was thinking of investing in Cardano and then I saw that its market cap is $17.7 B.
I know that they have a great team and their development work on Github is impressive, but this number looks way too high, right? I mean ADA is valued at $0.68 USD; how far can it still go?
lol you would be surprised. crypto and marketcaps don't always tell the correct story ya dig
>marketcup
i just bought $700 bucks worth of it. if it reaches 0.85 i get $1000 and ill cash out
I am not very smart. Can you explain why I shouldn't look at the market cap and think it's way too high please?
is retarded. Marketcap matters, cause if the circulating supply was 26 mil instead of 26 billion then they'd each be worth 1000x, so $684. However, if the founders premined and are holding 75% of the coins, then the market cap is inflated because they are artificially limiting the supply. So you have to factor in how much is premined or held or whatever. I don't know anything about ADA so you will have to figure this out.
>I mean ADA is valued at $0.68 USD; how far can it still go?
XRP went above 3$ at some point. In crypto always expect autism.
Thanks for the replies but that doesn't answer the question.
It used to matter but not anymore
Also pajet teeka from pbc (guy known for making extremely good calls such as antshares/neo @ 14 cents and ethereum @ 10$) just released a call "Buy ada up to 90'cents". Don't pay attention to marketcucks, marketcap doesn't mean absolutely anything.
Buy and hold for a while, don't expect to x2 overnight.
market cap is the only thing that matters
coin price is completely arbitrary since the coin creators can create any supply he wants
Marketcap is just last price * circulating supply
That's it
The same retards saying marketcap matters right now, are the same retards who said iota and ripple would never hit 1$ (when it was 23 cents) few months ago. Ignore them,
I think people assume cardano is probably going to have an eth level product eventually. Even if it does, it will only be like a 10x, and eth will probably outpace them anyway.
I think that best case scenario, it can go 5x this year. Just like other anons, I'm pulling these numbers out of nowhere, but when the circulating supply and the market cap are already so big, the room to grow seems somewhat limited. At the moment, they're probably overvalued still. They price will still rise as they continue delivering and working through their roadmap, but it will likely not be a meteoric rise, since they're already very high.
go look at ripple's mcap history
>I think people assume cardano is probably going to have an eth level product eventually.
The entire ethereum platform is broken demo-tech shit so shouldn't be too hard to achieve
Ethereum has infinite supply
Ethereum
Has
Infinite
Unlimited
Neverding
Supply
Lol. Of course market cap matters, it is literally the value of the project. Stop giving retarded advice when you have no idea what you’re talking about
Technically, most countries currencies are infinite too, so the circulating supply is what matters, or so I would think. If I'm wrong on this, feel free to tell me why.
Then what give 350 to uncle Sam and buy an iPad? Take that thousand and make it 10 take that ten and make it 20 then fly to Vegas grab an 8 ball and a couple hookers.
>Marketcap is just last price * circulating supply
>That's it
Which is essentially the definition of price...
price alone without knowing the circulating supply means nothing. You can argue that physiologically people may see a cheaper price and think the coin is better value, or has better potential, but I'm not sure if that increases the potential maximum gains from holding the coin. Only really helps to get a coin to become overvalued in the first place.
Eth has a shitload of developments due this year, and there are many other competitors to cardano.
>Eth has a shitload of developments due this year
They've had "Developments due" for the past 2 years retard
price is irrelevant. the only reason people use coin price instead of market cap is because its a smaller number and easier to calculate the price fluctuations. Aside from that only brainlets think that coin price matters like all those normies who bought tron at 20 cent thinking it can go over 1000 like eth and btc