is not immune to market changes. It did fell with the rest of the market and erased most of its gain made in late December of 2017. However, it is still the most investor friendly cryptocurrency
in the market for a number of reasons. The team behind Cardano is more interested in providing solutions that investors require than any other project in the market. Previously, Cardano decided to focus more on ADA/USD pairs instead of ADA/BTC pairs because that is what most investors wanted. No other crypto project has been seen to have made such accommodations to please its investors.
More interestingly, Cardano has recently announced an update to paper wallets. This is an interesting development which goes on to show how much the team behind Cardano cares about its investors and their safety. Paper wallets can be considered the safest option of a cold storage by far. You can lock the paper in any sort of security installation of your choice without having to worry about some unknown security breach from a firmware update or backdoor in your wallet left by the manufacturer. These concerns surfaced when just recently the Ledger wallet was hacked by a 15 year old kid from the United Kingdom. He also posted a video on Youtube demonstrating how he actually hacks the device.
Like most cryptocurrencies
, Cardano also had a terrible Q1 resulting in a loss of over 70% in value when it fell from $1 to $0.14 in a matter of weeks. However, with the recent confidence in the market, Cardano has been one of the few with the most gain, up more than 19% at the time of writing. Cardano also seems to have exited the downtrend and out of the triangle which clears the path for bullish movements ahead. The team has also been active on social media and has outlined plans for further developments in its roadmap. Charles Hoskinson, the mastermind behind Cardano is focused on making Cardano the best smart contracts platform which would be fast, secure, scalable and transparent. The IELE project by Cardano is also underway which would help bring virtual machines and smart contracts together. As previously mentioned, Cardano team is always two steps ahead of its competitors. They are always thinking about problems of the future not problems of today because they have already resolved those.
Big crypto funds like BKCM LLC run by Brian Kelly are extremely bullish on Cardano. Most are considering increasing their stakes as the markets move towards recovery. The recent movements in the market vindicate earlier made speculations about an explosive Q2. This would push Cardano far beyond $1 considering Bitcoin reachs targets of $70,000 or higher by the end of this year. Cardano is currently at 7th
place in terms of marketcap but if problems with Ethereum do not settle soon or if Ethereum gets embroiled in legal battles over ICOs, then Cardano looks more likely to take its place.