The researcher explains why ADA is not a “10x a month” type of investment?
Many in the Cardano community were unhappy with ADA and things got so tense that founder Charles Hoskinson threaten Immediately block anyone who complains about the ADA price.
“New Twitter Policy. If you complain about the price or ask to have coins burned, you will be banned immediately. ”
While the eToro exchange limits ADA liquidity to US customers, the Altcoin is listed by Bitstamp. In order to better understand contrary signals, the researcher Max Maher Consider Take a closer look at some of Cardano’s indicators and communities.
What do the indicators show?
When analyzing the real volume of ADA, Maher found that the indicator has decreased significantly in the last few days compared to the levels at the beginning of the year. At the time of writing, ADA’s actual volume is around $ 542 million, but that number rose to over $ 9 billion just a few months ago.
The source: Messari research
However, Maher argues that:
“It’s a different story when you consider the number of new addresses that ADA is holding. You may be surprised that the total number of wallets with at least $ 100 in ADA has increased fairly steadily and has only decreased slightly over the past few weeks. Regardless of the fact that the US dollar value continues to rise, the total number of wallet addresses is very regular and recently exceeded 3 million wallets.
In fact, during a live stream, it was Hoskinson who to explain:
“… ADA has more liquidity than almost any cryptocurrency in space.”
Why has ADA not yet flourished?
Readers should note that Maher has invested in ADA and holds over 41,000 Cardano tokens.
Even so, while researching the evolution of the ecosystem, Maher suggested that many people may have misunderstood Cardano’s Alonzo hard fork. The researcher suspects community members are frustrated with their expectation to see smart contracts, decentralized exchanges, crypto games, and other advanced features in the ecosystem immediately – but not prepared for the timing developments these projects require.
He calls it a “build time” for Cardano and estimates that new projects and higher transaction volumes will help drive the price of ADA higher.
“I wouldn’t put my hopes on 1 or even 2 months, but in 3 to 6 months I think we’ll see more decentralized applications on Cardano. And the bottom line is, if you want a cryptocurrency to grow ten fold in a month, you shouldn’t stop at Cardano. ”
In the “Activities” section, Maher also added that he could only find one case of Cardano failure, which he thought lasted about 1 hour.
“So my point is that Cardano stopped working because of his own hype.”
Not available What winter is here?
Cardano Foundation has notification “Significant increase” in Plutus scripts since the Alonzo hard fork. Of no Plutus-based smart contracts at the beginning of September, the Cardano Foundation recorded over 800 contracts in December.
Source: Cardano Foundation
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