Cardano(CRYPTO:ADA) already has made great gains. This young and dynamic cryptocurrency has soared more than 700% so far this year. Investors are excited about the blockchain network's speed, energy efficiency, and current and potential uses.
But Cardano increases may not be over. That's because Cardano has a lot more in store for investors and users. The platform is in the process of building itself out to reach an ultimate goal: becoming a self-sustaining system. It even has set out a roadmap with five stages. They're ongoing right now. The value of Cardano may climb as the network expands and works to reach its goal. And if it gets there, Cardano may truly skyrocket. Here's what you should do before that happens.
I don't believe in putting all of my eggs in one basket. Even if I'm really confident about the strength of that basket. So, I wouldn't make Cardano my only crypto investment -- or only investment in general. But if you're an investor with a broad portfolio of cryptocurrencies, you may want to consider selling a very high-risk name and reallocating the cash into Cardano. By high risk, I mean players that haven't proven much real-world utility. So, for example, I would favor Cardano and other more established players over meme coinsShiba Inu and Floki Inu.