I want to make a quick aside before I get into the article: Are we allowed to substitute Bitcoin for Gold in common idioms yet? “I’m feeling as good as Bitcoin”, “All that glistens is not Bitcoin”, “She has a heart of Bitcoin”. Doesn’t sound too shabby if you ask me. Since Bitcoin is vying to be a store of value in competition with gold, perhaps these phrases will become ubiquitous one day.

Anyway, back to the issue at hand: What does it take for a crypto asset to hit all times highs? Apparently, these days, it takes the tweet of a billionaire influencer.

Earlier this year, Elon Musk tweeted his support for Bitcoin and Dogecoin. As a result, over the ensuing months, the price of each digital asset has reached highs of US$60K and US$0.069, respectively.

Just this Month, Mark Cuban expressed his interest in Ethereum just the asset hit a record price of US$2.1K.

I am asking myself at this point; what elite figure has expressed their support for Cardano? It is after all, the sixth largest digital asset in terms of market capitalisation and growing in popularity every day.

Cardano on Twitter

If you include Backstreet Boy Nick Carter as an elite, then I have good news for you. The former frosted-tipped crooner has expressed his admiration for the digital currency numerous times in succinct tweets.

Nick Carter aside, Cardano is lacking a high-profile billionaire vocally singing its praise.

However, what Cardano lacks in billionaire influences, it makes up for with retail and developer enthusiasm. Cardano’s rise in 2020/2021 has been unparalleled. The digital asset started 2020 at a price of US$0.034 per ADA (The Cardano network’s token). Today, one coin is going to set you back approximately US$1.22, representing a 3,500% increase over the time span.

The developer base of Cardano is just as rabid as the investors. The number of developers has doubled in the past two years, and several projects look to switch over to Cardano from Ethereum. Ethereum is bogged down with extremely high transaction fees which is killing its usability.

The market Cap of Cardano is currently US$39 billion, while Ethereum is currently touching US$240. Once Cardano is launched, I’m predicting that it will quickly convert Ethereum’s user base. If this is the case, we could easily be looking at price of $7.50 per ADA if they were to match Ethereum’s market cap.

When this day comes, perhaps it will be enough to popularise the phrase “Another day, another ADA”.

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial adviser if you have any questions or concerns as to how a loss would affect your lifestyle.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

More Ethereum News

VeChain consolidates as clear trend fails to establish

VeChain price has been on a tear since the start of 2020 and shows no sign of slowing down despite the recent market crash. Now, VET awaits a volatile breakout from its consolidation to establish a clear trend.

More VeChain News

Chainlink could be the first to recover amid market crash

Chainlink, like the rest of the market, has experienced a significant correction in the past four days However, the digital asset continues to hold above a crucial support level and on-chain metrics show it could be one of the strongest during this correction.

More Chainlink News

Cardano on-chain metrics reveal paradigm shift in nature of investors

Cardano price shows the loss of momentum from the buyers’ end, which has resulted in a breakdown of a critical support level. Now, a continuation of this momentum could ensue as blockchain data reveals a grim future for ADA.

More Cardano News


Bitcoin Weekly Forecast: Institutional wave of BTC adoption follows new all-time highs

Bitcoin price hitting a new all-time high and Coinbase’s direct listing are perhaps two of the most important developments surrounding the pioneer cryptocurrency over the past week.

Read the weekly forecast