The Growth Of Cardano (ADA) And Its Rising Popularity In South Korea

Cardano (also known as ADA or pronounced as “aeda”) is one of the most popular cryptocurrencies in South Korea right now. It is growing at an exponential rate due to UpBit, which is South Korea’s second largest cryptocurrency.

 

Also, Cardano is the first peer-blockchain that is powered by scientists, whose goal is to roll the best of Bitcoin (when it comes to store of value), Litecoin (embracing its cheap and fast p2p transactions) and Ethereum (adopting its smart contracts technology). This mixture makes Cardano (ADA) one of the rising stars on the market.

 

The cryptocurrency has been growing on a multi hundred-percent scale without the release of any news which made people wonder why that is the case. Cardano managed to surpass IOTA and Dash without even stopping to say hi along the way. With a volume of approx. $1 billion in a couple of days, it is one of the most prominent cryptocurrencies with a market cap that is really close to $15 billion.

 

Despite the recent sink of around 11% in a single day, Cardano is the fifth largest cryptocurrency in terms of market cap. What’s interesting is that the single market for ADA in Korea is not one of the top Korean markets.

 

As we mentioned above, the growth has a lot to do with UpBit which is an exchange launched by some big sharks in the Korean business space. The value of UpBit is best seen through its 15 million users and the ability to use all of the payment options of Kakao which is another trading app managed by the company.

 

The news that South Korean officials have recently regulated crypto trading gives a greater push to this situation. The real question is the following….Will we see Cardano surging again and coming closer to the top?