Cardano is a third-generation blockchain with a market capitalization of $38.14 billion at the moment. The ADA token that is associated with the Cardano blockchain is not only active in the top 10 cryptocurrencies but is also going to be unleashed in the Asian and African markets pretty soon. The association of ADA with big names like IOHK or Input-output Hong Kong is going to give this digital asset a massive boost in the longer run.
For quite some time, spectators of the crypto community are observing the cold rivalry between BTC and ADA advocates. Now, the bull horns are out, and it seems highly likely that Cardano wishes to go head to head with the king of cryptocurrencies. The total number of surveys and reports for overall polled investors reveals that 30% of aggregated results are pointing towards a bull trend for ADA while the same is true for Bitcoin at only 20%.
The Rise of the Cardano being Acknowledged by Crypto Exchanges
The Cardano warriors were filled with excitement and panache after the altcoin reached an ATH of $1.48 on March 18, 2021. The digital currency skyrocketed from nowhere to the top three ranking digital assets on the global scale. The fever of the ADA enthusiasm has gone down since as the altcoin has seen some decline since then and hanging on to the 7th rank with $1.18.
However, in terms of daily trade volume, ADA has managed to upstage BTC on several occasions. The accomplishment of such feats has managed to attract the attention of figures like Steve Ehrlich. Ehrlich is CEO of the sought-after crypto exchange platform Voyager. The number of users on this platform is constantly rising due to the low transaction costs and signing bonus. Ehrlich believes that ADA’s temporary dominance was quite unexpected, and he is eager to see how its counterparts respond to the challenge.
Which Way is the World Heading Bitcoin or ADA?
When it comes to cryptocurrencies, publicity matters a lot. Most people in the world who are aware of the existence of digital assets are familiar with the name of Bitcoin. However, only a select few are aware of the presence of Cardano or ADA. This massive distinction is not limited to the mainstream users and retail investors.
The top institutional investors are also choosing Bitcoin over ADA as a rule. In the opinion of many, ADA might have potential, but it has a long way to go. Some new interest in altcoin is expected as the high price of Bitcoin might divert the investor traffic towards Cardano.