Cardano’s ADA Becomes Best-Performing Asset Among Top 20 Coins

Cardano’s ADA the native coin of the Cardano platform is one of the best performing coins among the TOP 20 digital coins today, as a result of the newly launched crypto payment method, AdaPay made for merchants, by the Cardano Foundation as we are reading in today’s Cardano Ada news.

It was together with COTI, an enterprise-grade fintech platform, that the method was developed which “allows merchants to accept payments in Cardano’s ADA with a near-instant settlement into 35 fiat currencies directly into their bank accounts,” the foundation said on Thursday. Ada is ranked on the 11th position by market cap and rallied quickly after the news, reaching a trading price of $0.042. The price has grown by 8 percent in the past 24 hours and by 12 in the previous week. However, it is still down by 3 percent over the month and is unchanged in the past year.

At the end of October 2019, it was announced by the foundation about the development of the payment gateway. The latest solution can be easily integrated into the merchant website with the help of adaPay Button or just by using the QR-based point of Sale system. The Ada foundation uses the COTI universal payment solution which aims to provide other financial services such as lending products and prepaid debit cards.

A demo store was created by COTI in meantime with the goal of demonstrating how payment with ADA works. Martin D. Weiss, founder of Weiss Ratings, and Juan Villaverde, co-author of the Weiss cryptocurrency ratings claimed in a new opinion piece that ADA is among “true cryptocurrencies.”

“They include Bitcoin, Ethereum, Cardano, EOS and others — digital money, which could someday function like dollars, euros or yen, but with much more transparency, efficiency and monetary discipline,” they said.

Prior to this, the chief of Cardano (ADA) Charles Hoskinson hosted a live Ask Me Anything (AMA) session on YouTube where he talked about a lot of things and answered questions from the public. One of the most interesting topics was him labeling the Stellar XLM burn of 4 million tokens as “insane” one, noting that he could not believe this is happening.