Explore
  • Home
  • Start Here
  • Blog
    • FIRE
    • Finance
      • Earn More
      • Spend Less
      • Invest Money
      • Reach Your Goals
    • Crypto
      • Crypto Guide
      • Crypto News
  • Services
  • About
    • About Us
    • Contact Us
Archives
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
Categories
  • Crypto
  • Earn More
  • FIRE
  • Invest money
  • Reach Your Goals
  • Spend Less
Meta
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
Finance Outpost Finance Outpost
Finance Outpost Finance Outpost
  • Home
  • Start Here
  • Blog
    • FIRE
    • Finance
      • Earn More
      • Spend Less
      • Invest Money
      • Reach Your Goals
    • Crypto
      • Crypto Guide
      • Crypto News
  • Services
  • About
    • About Us
    • Contact Us
  • Crypto

Cardano Being Preferred Above Bitcoin and Ethereum

  • October 11, 2021
  • Princess Ventures
Total
0
Shares
0
0
0

Alex Krüger, a cryptocurrency trader and analyst, recently discussed why Cardano may be the most wanted cryptocurrency among new investors. He credited ADA’s fame to “a podcast.”

Just met with an old friend mine who just got into crypto.

His first coin?

You bet, $ADA. Because of a podcast. Newcomers always go for $ADA. Simply amazing.

— Alex Krüger (@krugermacro) October 9, 2021

While there are numerous cryptocurrency podcasts, he was making a reference with the one organized by Charles Hoskinson.

Hoskinson, the co-founder and CEO of IOHK, invented Cardano, and is a social media influencer. He explains concepts such as Cardano’s update proposals and global crypto challenges on his channel, in addition to hosting regular AMA or ‘ask me anything’ sessions.

According to Krüger, this could imply that he can provide insight to first-time investors about his project.

🚀 Upgrades


On October 8, the Cardano community published its near-term status update. It stated that the team is currently starting to work on an October maintenance upgrade and deploying additional ERC20 tokens.

Additionally, it noted that in order to enhance decentralization, it upgraded Cardano node dependencies and reimplemented the faster transaction modal.

Besides that, the Cardano team is going to review a few testnets, such as Daedalus testnet v.4.3.2, and concentrating on debugging and other improvements.

Even with the development momentum, Cardano did not have a great month at the end of last month. Since then, the average number of large transactions on it has decreased significantly.

Cardano obtained only $1.1 million in additional inflows during the week ending October 1, according to CoinShares’ weekly fund flows report.

📈 Outlook

However, this does not necessarily involve a pessimistic outlook.

According to Grayscale Investments’ most recent report, the network “exhibited positive fundamental trends.”

Additionally, the report stated that in the near term, new Dapp, NFT, as well as token launches may cause ADA holders to reallocate their holdings to these assets. Meanwhile, the network faces competition.

According to the report, competition comes from “Layer 1 blockchains with smart contract capabilities,” such as Ethereum, Internet Computer Protocol, Solana, and Avalanche.

While Cardano recently introduced smart contract capabilities via Alonzo, the implementation of DAPPs is still in its infancy.

However, it is worth noting that the Cardano Foundation announced recently several strategic partnerships at the Cardano Summit 2021 with companies such as COTI, Chainlink, and Rival.

These collaborations are expected to accelerate Cardano’s implementation and use cases in the coming days.

Related Article: Ethereum Price Has Just Reversed and Achieved $3,700, Here’s Why
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • ada
  • cardano
  • crypto news
  • cryptocurrency
Princess Ventures

Princess is a freelance technical, finance, and blockchain writer, blogger, and founder of FinanceOutpost.com. Ultimately, she wants to help individuals create their own freelance businesses, learn blockchain, and become financially independent.

Previous Article
  • Earn More

How to Increase Your Income Quick and Easy

  • October 11, 2021
  • Princess Ventures
Read More
Next Article
  • Crypto

Bitcoin Lacks Momentum Above $56,000, Explaining Why the Rally Hasn’t Ended Yet

  • October 11, 2021
  • Princess Ventures
Read More
You May Also Like
On-Chain Metrics Show That Bitcoin's Bullish Recovery Rally Is Near
Read More
  • Crypto

On-Chain Metrics Show That Bitcoin’s Bullish Recovery Rally Is Near

  • Princess Ventures
  • January 12, 2022
6 Biggest Mistakes Crypto Newbies Make & How To Avoid Them
Read More
  • Crypto

6 Biggest Mistakes Crypto Newbies Make & How To Avoid Them

  • Princess Ventures
  • December 12, 2021
Read More
  • Crypto

Understanding the Different Types of Cryptocurrency

  • Princess Ventures
  • December 6, 2021
Read More
  • Crypto

Is Bitcoin’s Inability to Regain $60,000 Hint of Trouble?

  • Princess Ventures
  • November 23, 2021
bitcoin as a form of cash
Read More
  • Crypto

Miami Will Provide Bitcoin to Its Residents and Allow Its Use for Payments

  • Princess Ventures
  • November 12, 2021
Ethereum, To Surpass Bitcoin in The Next Few Years?
Read More
  • Crypto

Ethereum, To Surpass Bitcoin in The Next Few Years?

  • Princess Ventures
  • November 7, 2021
Bitcoin, The Most Popular Coin In The Market Today
Read More
  • Crypto

Bitcoin, The Most Popular Coin In The Market Today

  • Princess Ventures
  • November 7, 2021
Bitcoin Taproot Is Just A Few Days Away
Read More
  • Crypto

Bitcoin Taproot Is Just A Few Days Away

  • Princess Ventures
  • November 3, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

On-Chain Metrics Show That Bitcoin's Bullish Recovery Rally Is Near
On-Chain Metrics Show That Bitcoin’s Bullish Recovery Rally Is Near
  • January 12, 2022
Cleaning Up Your Finances This New Year 2022
Cleaning Up Your Finances: 5 Steps for This New Year 2022
  • January 11, 2022
Good Debt vs Bad Debt: The Definitive Guide
Good Debt vs Bad Debt: The Definitive Guide
  • January 7, 2022
10 Financial Priorities Everyone Should Have For 2022
5 Financial Priorities Everyone Should Have In 2022
  • January 6, 2022
10 Common Money Mistakes That Will End Up Ruining You
10 Common Money Mistakes That Will End Up Ruining You (Part 2)
  • December 20, 2021
Life Insurance: What Is It And Why Do I Need It?
Life Insurance: What Is It And Why Do I Need It?
  • December 16, 2021
Part-Time or Full-Time? What to Know About Freelancing
Part-Time or Full-Time? What to Know About Freelancing
  • December 14, 2021
Achieving Financial Freedom: The Right Mindset
Achieving Financial Freedom: The Right Mindset
  • December 14, 2021
How To Invest For Your Kids And Teach Them About Personal Finance
How To Invest For Your Kids And Teach Them About Personal Finance
  • December 12, 2021
6 Biggest Mistakes Crypto Newbies Make & How To Avoid Them
6 Biggest Mistakes Crypto Newbies Make & How To Avoid Them
  • December 12, 2021
Finance Outpost Finance Outpost
  • Contact Us
  • Privacy Policy
  • Disclosure Policy
  • Terms and Conditions
Financial independence at any age, anywhere.

Input your search keywords and press Enter.