Cardano Getting back to $1? Unlikely, Here’s a Few Alternatives

One of the biggest altcoins in the crypto space, Cardano is an open-sourced blockchain network and cryptocurrency that has provided significant returns since its launch in 2017. However, after massive price corrections, investors are looking for new alternatives.

This guide will discuss three of the best alternatives to Cardano, which can potentially provide high returns in 2022.

Cardano Price

Similar to Ethereum, the Cardano network is an open-sourced blockchain platform that deploys smart contracts to leverage DeFi (decentralized finance) protocols, NFT interoperability and more. Launched in 2017, Cardano (ADA) was created by Charles Hoskinson, one of the original founders of Ethereum.

After launching in 2017, ADA did not experience much upwards price movement until the beginning of 2021. The token rose from $0.2 to above $2 before correcting to the $1 mark in July 2021.

However, Cardano made headlines after integrating its Alonzo fork upgrade – which deployed smart contracts on the blockchain network for the first time. After the deployment went live in September 2021, ADA reached an all-time high of $3.1 in the same months.

But, ADA has corrected to $0.5 per token. Despite being one of the largest cryptocurrencies, the token has not provided any upwards movement in 2022. Therefore, a 2x increase to $1 is unlikely. Therefore, investors are looking for alternatives.

Cardano Alternatives

The sections below review three other cryptocurrencies which could potentially be good alternatives to Cardano (ADA):

1.    Tamadoge

In the last few years, we have witnessed an increasing number of GameFi projects leveraging blockchain technology to offer exciting gaming benefits to players. One of the best GameFi and play-to-earn (P2E) projects is Tamadoge – a cryptocurrency network that offers NFT interoperability on its P2E universe.

TAMA, the native token of Tamadoge, is used to settle transactions, buy NFTs and reward players. One of the P2E items that can be purchased with TAMA is Tamadoge pets – unique NFT avatars that take the shape of dogs. Each avatar offers different characteristics and can be purchased from the Tama store with the native token.

Participants compete in the Tamadoge ecosystem with their own NFT pets, with the top performers being rewarded at the end of the month. Notably, TAMA aims to be a deflationary asset, burning 5% of all tokens spent on the platform.

30% of the tokens spent are used for marketing purposes, while the…