The two cryptocurrencies that have been discussed a lot in the crypto community recently are the Hedera Hashgraph (HBAR) and Cardano (ADA) HBAR vs Cardano (ADA). Both of them have huge potential and are already actively traded on many online cryptocurrency exchanges.
If you want to learn more about HBAR and ADA, you’re on the right page. We’re going to discuss both Hedera Hashgraph and Cardano as projects, and then we’ll make an overview of both cryptocurrencies and their historical price changes.
Hedera Hashgraph: Details
Hedera Hashgraph is a platform, pretty much like Ethereum. In fact, even its purpose is quite similar to the one of Ethereum — it’s used for creating decentralized applications. Nevertheless, there’s one big difference between the two — Hedera Hashgraph isn’t built with blockchain technology. Instead, it uses the hashgraph technology to run things, which is another type of distributed ledger-based on a different consensus mechanism.
What matters is that hashgraph is allegedly faster and more convenient, with lower fees and better security. This is one of the reasons why Hedera Hashgraph’s cryptocurrency, HBAR, started turning many heads.
Cardano
Cardano is also a public blockchain platform, and its main goal is to run smart contracts. Cardano is older than Hedera Hashgraph, and its consensus mechanism was somewhat revolutionary when it was founded. Instead of using the proof of work (PoW) mechanism, Cardano utilizes proof of stake (PoS). Nowadays, PoS is discussed a lot in blockchain and crypto communities, but it was quite revolutionary back in the day, making Cardano a unique platform.
Feel free to check HBAR versus ADA on Godex.io to see how they trade against each other at the moment. However, we also recommend reading our short price analyses of both cryptocurrencies.
HBAR Price Analysis
Hedera Hashgraph (HBAR) has been performing rather well lately, with the current price changing from $0.2 to $0.3. However, it wasn’t always like that, as its price never actually reached above $0.1 before January 2021. Around that time, investors started trading HBAR a lot, making its price go up above $0.1. In March 2021, the price reached $0.4495, which is at the moment considered the cryptocurrency’s all-time high. On the other hand, the lowest price ever recorded by official statistics was $0.01001, which was on January 2, 2020.
If we take a look at the 52-week high and low, we’ll see an incredible jump from $0.02 to $0.44. The price of HBAR spiralled upwards in the first half of March when it jumped from $0.1 to $0.44 in just a couple of days, reaching its peak on March 15.
The current Hedera market cap is at about $2 billion, with 8 billion HBAR in circulation at the moment. The maximum supply determined for HBAR is 50 billion, which means that approximately 16% of all coins are circulating.
ADA Price Info
Cardano (ADA) has been around longer compared to HBAR. Hedera’s official trading records start in September 2019, whereas ADA goes back to October 2017. When it appeared on the market, Cardano caught the first wave of crypto craze that took place in December 2017/January 2018, and its price quickly increased from approximately $0.02 to $1.08. ADA kept that record for a long time. After the initial wave of investors, its price decreases, and the cryptocurrency traded at approximately $0.03 – $0.06.
However, the price of ADA started going up again at the beginning of 2021, with a huge increase taking place in February when the price jumped to $1.38. It finally peaked on April 14, with the price of a single unit of ADA reaching $1.56. Cardano’s market cap is about $41 billion, with almost $40 billion ADA in circulation. 45 billion ADA is the total supply, meaning the majority of crypto is already circulating.
Final Thoughts
Even though Cardano is older than Hedera, both cryptocurrencies are considered fairly young, so it’s difficult to predict which way the price will go in the future. Right now, it’s safe to say that Cardano is performing a bit better, as it has a successful history, and it’s ranked much higher compared to HBAR. ADA is ranked #6 in the market and has about 2.02% market dominance, as opposed to HBAR, which is 54th in the market rank, with a market dominance of just 0.11%.
But that, as well, can change since the cryptocurrency market is highly volatile and prices go up and down all the time. Therefore, make sure to do some research on your own to decide which crypto offers a better investment opportunity.
The most prominent and most liquid places to trade XRP with fiat money, along with any other cryptocurrency, are Binance, Huobi, Bitstamp, Bitfinex, Bithump, or KuCoin. To Buy xrp on one of these exchanges, an account is required that requires basic identification, and full verification if large amounts are traded.
The process is straightforward and similar to that of an online brokerage. You will be asked to provide your information such as name, address, an official public document (passport), and proof of address (utility bill). Usually, this process only takes a few minutes.
