This is the shocker of the day. The Cardano (ADA) chip breaks its ATH to reach $3.02 at the time of writing. Here’s a look back at a speculative surge that has left many stunned!
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When Cardano defies gravity
recurring joke in the cryptosphere to joke about Cardano’s smart contracts. Indeed, while competing projects tend to deliver numerous dApps (decentralized applications) on their blockchains, Cardano is still in a phase of development and various updates, expected to lead the famous cryptocurrency to its final testnet… soon.
As smart contracts have been expected for years, the Cardano community tends to get impatient. We talked about it in a recent article
However, and despite its detractors, the support for the project remains high and the ADA has a strong community. We can see that Cardano’s upward movement is indisputable over this 2021 year, as it is a rather wild 2,337% increase over the 2021 year
. Cardano (ADA) price against the dollar (1Y) – Source: CoinMarketCap
ADA going mainstream?
The speculative madness on this asset is even reaching mainstream news channels, such as CNEWS, who are not doing their listeners any favors. They recently flew over the subject, comparing Cardano and Bitcoin (BTC)…which have very little in common, while giving a new platform to the most hackneyed clichés about the king of cryptocurrencies.
The information was moreover relayed by our journalist colleague Gregory Raymond on Twitter, so much it seems to sign the unreasonableness that is currently gripping the cryptocurrency market.
<img width=”584″ height=”383″ src=”https://yellowrocketagency.com/wp-content/uploads/2021/09/image-10..jpg” alt=’Twitter post by Gregory Raymond sharing the unreasonable comparison between Cardano (ADA) and Bitcoin (BTC) which have very little in common’ />Posted by Gregory Raymond – Source: Twitter
He also commented on the absurdity of the situation:
“Beyond the somewhat ridiculous banner, the treatment misses the point. It’s a shame because it’s not all doom and gloom. To listen to them, you’d think Cardano was as developed as Ethereum and that proof of stake ridicules Bitcoin.”
‘We also noted in early August that hedge fund giant Morning Star had placed Cardano on par with Bitcoin and Ethereum
within its portfolio.
There’s still a lot of work to be done by Cardano founder Charles Hoskinson’s team to convince and deliver on its promises. But regardless, this surprising bullish rally is news that should delight those who made the very curious ADA bet and who, for some, have since become millionaires… at least, on paper
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