Cardano (ADA) Demand Rises Amongst Retail And Institutional Investors

Recently, both institutional and retail investors have shown an increasing interest in Cardano. It is fast becoming the coin of choice for investors who are in crypto for the long term. Good news trots behind the coin as Cardano released a roadmap for the Alonzo hard fork that is scheduled to take place in the second quarter of the year 2021.

Staking volumes have increased tremendously as the hard fork draws near. And so far, there has been over $31 billion worth of ADA staked ahead of the hard fork. Cardano is a proof of stake blockchain and thus requires less energy to mine than the other top coins in the market.

The energy footprint of Cardano is negligible in this regard and thus individuals and institutions who are worried about the mining footprint that the mining of coins like bitcoin and ethereum leaves seem to find safe haven in this coin. Cardano boasts of the highest number of staked coins, ahead of Ethereum, with over 70 percent of the entirety of ADA supply currently staked.

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