Kiss' Gene Simmons Buys $300,000 Worth of Cardano

Rock star Gene Simmons has voiced his support for cardano (ADA) on Twitter after tweeting that he has purchased $300,000 of the cryptocurrency.

The Kiss bassist and frontman has stated that he believes in cardano thanks to its affordability compared with other cryptocurrencies, and has bought $300,000 worth of it.
Cardano's native token ADA is currently priced at $0.92 and is the sixth-largest cryptocurrency by market capitalization at almost $29 billion.

Cardano is a blockchain that aims to address the scaling problems of Bitcoin, while also creating a platform for smart contracts that is interoperable with the mainstream financial system. ADA has risen more than 400% year to date.
Simmons later praised Cardano founder Charles Hoskinson's goal of helping develop emerging economies in Africa.
The Kiss co-founder also stressed to his followers the importance of doing their own research before investing and pushed back at those who accused him of being compensated for his crypto endorsements.
Simmons has previously revealed that he has holdings in bitcoin, ethereum, litecoin and other virtual currencies and also has declared himself the "God of Dogecoin."

The Kiss bassist and frontman says he believes in Cardano because of its affordability compared with other cryptocurrencies.