As one of the more serious altcoins in the crypto sector, Cardano (ADA -4.83%) has the shape of an asset that might be ripe for long-term holding. It certainly won’t be going to zero anytime soon, and its team of developers isn’t about to give up on their quest to upgrade the chain and make it a more appealing place to build applications.
But is it still a smart coin to buy and hold for years, or has the environment shifted to make its odds less favorable?
Don’t look to past performance to determine the future
Compared to its price five years ago, Cardano’s price today is over 2,000% higher. It is easy to wish that its price will do the same if you buy it today and hold it for a similar amount of time. But that kind of thinking is folly.
For Cardano to be a smart purchase today, it needs to demonstrate why it’s a better place to develop applications than its chief competitors, Ethereum and Solana,…
