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Home cryptocurrencies Hedera Hashgraph (HBAR) vs. Cardano (ADA) – Which Coin Holds More Potential?

Hedera Hashgraph (HBAR) vs. Cardano (ADA) – Which Coin Holds More Potential?

by James Musoba
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Even though Bitcoin is still the most popular crypto, Hedera Hashgraph (HBAR) and Cardano (ADA) have been discussed a lot lately.

Hedera Hashgraph (HBAR)

Hedera Hashgraph is actually a name of a decentralized platform that works pretty much like Ethereum. It is used for building decentralized applications. Still, it’s different from Ethereum in its essence, since the distributed ledger technology supporting it isn’t blockchain. In fact, it’s something called hashgraph.

We’ll not go into details about the way hashgraph works. All you need to know is that it offers an alternative to blockchain and uses a different consensus mechanism that doesn’t require miners.

As soon as it was presented to the public, Hedera Hasgraph started turning heads. After all, it claimed to be faster and more affordable than blockchain-based platforms.

Cardano (ADA)

Cardano is a blockchain platform that’s open-source and decentralized. Its primary goal is to run smart contracts, and what makes it stand out is that it uses a proof-of-stake consensus protocol. Back in the day when Cardano was founded, a PoS protocol was exotic, which is why it also attracted many people.

HBAR vs. ADA Comparison

Now, let’s get to the crypto side of these projects. Their primary tokens are HBAR and ADA. You can compare HBAR versus ADA on Godex and learn more about their latest prices and how they trade against each other. But before that, let’s take a look at their respective past performances. Read on.

HBAR Price Overview

The current price of a single HBAR fluctuates between $0.2 and $0.4, and that’s the most this crypto has ever traded. After the initial spike, which was due to the hype around the project, its price quickly fell, and the cryptocurrency threaded at about $0.01-$0.05. It started going up again in January 2021, when the number of cryptocurrency investments increased in general. HBAR reached its peak on March 15, 2021, when a single unit traded at $0.4495. HBAR reached its all-time low on January 2, 2020. In other words, in a bit more than a year, the cryptocurrency underwent a huge expansion, as many people started investing in it.

There are currently 8.09 billion HBAR circulating among crypto investors, and the total supply for this crypto is set to be 50 billion HBAR. The crypto is fairly new, which is the reason why only 16% of the entire supply is circulating.

HBAR’s market cap is $2.3 billion at the moment, and the market dominance is just 0.11%.

ADA Price Overview

Cardano (ADA) has a bit longer history compared to HBAR, which is just over a year old. ADA has been traded since 2017. It immediately became part of the first crypto investing craze in January 2018, when its price reached more than $0.8 per unit. However, the cost of a single ADA dropped shortly after, and it was traded at about $0.02 – $0.09 until the second half of 2020. At the start of 2021, ADA’s price started skyrocketing. Only in February, it increased from about $0.03 to $1.21.

ADA’s all-time high is $1.56, which the cryptocurrency reached on April 14, 2021. Its all-time low was recorded on October 1, 2017, when a single unit was just $0.017.

The current market cap for ADA is $44,5 billion, which puts it in the #6 most popular cryptocurrency at the moment. Its market dominance is slightly above 2% right now, and the number of cryptos in circulation is 31,9 billion ADA. The total supply is set to 45 billion ADA.

Final Thoughts: HBAR or ADA?

Deciding between two cryptocurrencies is always a challenge, especially if both have shown similar performances lately. Even though ADA is much more popular at the moment, one cannot guarantee that it will stay like that in the future. Simply put, HBAR is a much newer cryptocurrency, and it needs some time to grow. Both are more popular than ever and are recording huge trading volumes.

Therefore, if your goal is to buy one of the two, we encourage you to do research on your own to decide. Moreover, make sure to follow the latest news related to ADA and HBAR and other popular cryptos, as they can also affect the prices of other digital coins. If your goal is to hold cryptos, you can always diversify your portfolio by buying both.

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