• Latest
  • Trending
Cardano is undervalued, says Grayscale

Cardano is undervalued, says Grayscale

October 5, 2021
Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

June 26, 2022
Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

June 26, 2022
Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

June 26, 2022
SFLMaven CEO Joe Ladin Joins MoneyTV for an Update on Sales Growth and the Company’s Recent Launch of the World’s First Metaverse Digital Vintage Jewelry Store

SFLMaven Announces Development Work Now Underway on New Boutique Digital Jewelry NFTs to be Sold Through Recently Launched SFLMaven Metaverse Store

June 26, 2022
Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

June 26, 2022
What is DFI Money and Why is It Surging?

What is DFI Money and Why is It Surging?

June 25, 2022
Crucial Decision on Testnet Hard Fork to Be Made Next Week

Crucial Decision on Testnet Hard Fork to Be Made Next Week

June 25, 2022
Misleading Metrics Like Accuracy Are Not Worth Your Time | by Dylan Cunningham | The Capital | Jun, 2022

Misleading Metrics Like Accuracy Are Not Worth Your Time | by Dylan Cunningham | The Capital | Jun, 2022

June 25, 2022
Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

Why Solana Has Outperformed Ethereum, SOL Up 36% In One Week

June 25, 2022
  • Contact Us
  • Privacy Policy
Sunday, June 26, 2022
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

Cardano is undervalued, says Grayscale

Automatic by Automatic
October 5, 2021
in Crypto Technical Analysis, Top News
0
Cardano is undervalued, says Grayscale
0
SHARES
22
VIEWS
Share on FacebookShare on Twitter


Digital asset management firm Grayscale attributes Cardano’s slow progress to the firm’s constant desire to get it right

Grayscale Investments published a report on Sunday that suggested that Cardano may well be undervalued as compared to fellow crypto coins Bitcoin and Ethereum. The report argues that considering the growth that Cardano has seen with respect to its fundamentals, its value may be higher than where the market has it currently placed at.

The report named “An Introduction to Cardano” noted that the actual value of Cardano is about $30,000 and that Ethereum’s is around $55,000. Based on its argument, Cardano is currently about 45% cheaper than Ethereum, and Grayscale said that it is becoming home to decentralised finance (DeFi) projects due to its new smart contract functionality.

However, the report said that Cardano’s insistence on getting it right the first time around has curtailed its progress, as the project places a high value on academic research and peer reviewing.

“The trade-off of Cardano’s approach has also resulted in its biggest weaknesses, which include: a historical lack of smart contract capabilities, an unproven track record for how well dApps will function, a still maturing third-party developer ecosystem, lack of widespread mainnet dApps, and lower transaction fee revenue,” the report read.

Despite this, Cardano has become the third-largest cryptocurrency by market cap, with the network having processed $1.6 trillion in on-chain transaction value over the year preceding the launch of Cardano’s core POS protocol mainnet version. Furthermore, the progressive adoption of smart contracts on the platform is part of the reason why Cardano has seen massive growth in 2021.

“Although large-scale dApp roll-outs may take some time, smart contracts are now being tested on the Cardano mainnet, and an early ecosystem of projects are emerging across several application use cases.”

Cardano, often dubbed the Ethereum-killer, has seen significant growth and adoption over the last year. The coin started 2021 at $0.18, rising to peak at $3.10 before falling to about $2.20 with the crypto market crash. Cardano also saw a sevenfold rise in the number of active monthly users this year to about 2.8 million.

Grayscale research analysts argue that Cardano may well be on course to become the most dominant altcoin by market cap, though they also see ADA showing much higher levels of volatility in comparison to Bitcoin and other altcoins.

Grayscale has acted on its belief in ADA’s potential growth but not as much as in ETH and BTC. The asset manager’s portfolio has Cardano as its third-largest constituent of the Digital Large Cap Fund, even though it only constitutes 5.1% of the $495 million fund. In comparison, Bitcoin and Ethereum boast 62% and 26%, respectively.



Source link

Related articles

Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

June 26, 2022
Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

June 26, 2022
ShareTweetShareShare
Previous Post

Bitcoin price pushes through $51K, extending bulls’ short-term target to $56K

Next Post

Why Bitcoin Turns Attractive On Dips Above $50K

Related Posts

Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

Market Volatility Points To Dangerous Investor Apathy | by Jonathan Baird CFA | The Capital | Jun, 2022

by Automatic
June 26, 2022
0

Why Volatility Must Rise SubstantiallyPhoto by Tyler Prahm on UnsplashThe events of 2022 thus far have provided ample fodder for...

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

by Automatic
June 26, 2022
0

Ever since early Bitcoin (BTC) investors woke up millionaires as the ecosystem gained tremendous popularity alongside the mainstreaming of the...

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

Dogecoin Whale Transactions Jump 45% as DOGE Sees Buying Pressure

by Automatic
June 26, 2022
0

Tomiwabold Olajide Large transaction surges are typically linked to increased activity from whales According to IntoTheBlock data, Dogecoin whales, or...

SFLMaven CEO Joe Ladin Joins MoneyTV for an Update on Sales Growth and the Company’s Recent Launch of the World’s First Metaverse Digital Vintage Jewelry Store

SFLMaven Announces Development Work Now Underway on New Boutique Digital Jewelry NFTs to be Sold Through Recently Launched SFLMaven Metaverse Store

by Automatic
June 26, 2022
0

FORT LAUDERDALE, FL, June 24, 2022 (GLOBE NEWSWIRE) — SFLMaven Corp. (OTC Pink: SFLM), (“SFLMaven” or the “Company”) (www.sflmaven.com), a...

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

by Automatic
June 26, 2022
0

On-chain data shows Bitcoin whales are transferring large amounts to derivatives exchanges right now, a signal that more volatility could...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store

Top News

Enhance Basic Tech Capacity & Provide All-encompassing Products & Services

The Sandbox offers a long-term buying opportunity after a recent sell-off

Fiat Money Poisons Everything. Fiat money destroys lives | by Jonathan Garner | The Capital | May, 2022

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • Store

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT