- According to a popular Cardano whale, Cardano (ADA) has the potential to be a scarce asset like Bitcoin.
Cardano (ADA) According to “ADA whale,” a community-focused Twitter account, Cardano remains one of the few digital crypto assets to come close to the distribution and inflation of Bitcoin. Also, the expert Bitcoin (BTC) believes the ADA may become a rather scarce asset at some point in the future, as it may follow a similar path.
“Cardano is one of the few coins that comes close to the distribution and inflation of Bitcoin.
No VC, relatively even distribution and predictable inflation. Until the coin starts to decline rapidly, people can currently buy it at an affordable price.
No ponzinomics, just backloaded disinflationary monetary policy”
2/ Cardano is one of few coins that approaches Bitcoin’s distribution and inflation
No VCs, relatively equal distribution and predictable inflation. Today, people can buy in cheaply until it reduces fast
No ponzinomics, but good old backloaded disinflationary monetary policy pic.twitter.com/ATzymkcbgq
— ADA whale (@cardano_whale) May 28, 2022
The “ADA whale” believes that the dynamics of Bitcoin are on the right track, due to its fair distribution, price stability long enough for many people to buy, and fixed supply. Mysterious Bitcoin creator Satoshi Nakamoto had a view that believed scarcity could create value for the digital asset; therefore, the maximum supply of Bitcoin 21 million limited to token. The 19 millionth Bitcoin was mined in April and there are only two million BTC left to be mined in the next 100 years.
Cardano is also similar to the king cryptocurrency Bitcoin, but unlike Ethereum, it has a limited supply and only 45 billion ADA can be created during the cryptocurrency’s existence.
Currently, 33.82 billion ADA are in circulation and 34.27 billion ADA have been created so far, an amount that accounts for 75 percent of the maximum supply according to CoinMarketCap data.
However, due to ongoing adverse market conditions, the “ADA whale” believes it is not yet time to stock up on ADA. The analyst, who warns investors about this issue, states the following:
“This is a bear market, so be prepared for possibly months of negative double-digit returns. I’m just trying to put things into a long-term perspective.”
Cardano’s closed Vasil testnet launched before June hard fork
According to the latest weekly report from Cardano’s parent company IOHK, Vasil The testnet has already been launched to evaluate its functionality with a specific set of dApps and users. Cardano team will be held in June Vasil Hard Fork Combinator (HFC) In preparation for its event, it continues to work on consensus-specific upgrades.
IOHK also recently published a chart with network expansion data in a post. The number of 943 projects built on Cardano has now increased to 986 projects. While a total of 88 projects were launched in Cardano recently, the number of NFT projects increased to 5,727. During the week, Github connections totaled 3,028, while native tokens on Cardano reached 4.9 million.
In addition, the number of Plutus scripts reached 2,745. ADA, which has increased by about 4 percent in the last 24 hours, is trading at $ 0.47 at the time of writing.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.