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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 to 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 nearly $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 aim to 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 responders who accused him of being compensated for his crypto endorsements.
- Simmons has previously revealed that he has holdings in bitcoin, ethereum, litecoin and others and also has declared himself the "God of Dogecoin."
See also: How Dogecoin Became So Popular
