Cardano Has Potential to Become Scarce Asset Like Bitcoin: Community

Cardano has the potential to become a scarce asset like Bitcoin

According to "ADA whale," a Cardano community-focused Twitter account, Cardano remains one of the few coins that comes close to Bitcoin's distribution and inflation. He also feels that ADA could become a highly scarce asset at some point in the future, as it may follow a BTC-like path.


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" thinks that Bitcoin got its dynamics right because of its fair distribution, its price staying low long enough to allow many to buy, and its fixed supply. Satoshi Nakamoto, the enigmatic Bitcoin creator, believes that scarcity may create value; hence, the maximum supply of Bitcoin was limited to 21 million coins. The 19 millionth Bitcoin was mined in April, leaving only two million BTC to be mined in about 100 years.


Cardano, like Bitcoin but unlike Ethereum, has a finite supply limit, with only 45 billion ADA ever to be created over the coin's existence.


Presently, 33.82 billion ADA are in circulation, accounting for 75% of the maximum supply, and 34.27 billion ADA have been created so far, per CoinMarketCap data.


However, because of continued unfavorable market conditions, the "ADA whale" believes that now may not be the time to load up on ADA. "This is a bear market, so be prepared for possibly months of double digit negative returns if you do," he advises. "Just trying to put it into long-term perspective."


Cardano's closed Vasil testnet deployed ahead of June hard fork


According to the latest weekly report by Cardano's parent company, IOHK, the closed Vasil testnet has already been launched to assess its functionality with a select group of dApps and users. The Cardano team continues to work on consensus-specific enhancements in anticipation of the Vasil Hard Fork Combinator (HFC) event in June.



Cardano's Network Growth Statistics, Courtesy: essentialcardano.io

In addition, IOHK provided a chart with network growth information. Currently, 986 projects are building on Cardano, up from 943 previously. A total of 88 projects have recently been launched on Cardano, while the number of NFT projects has risen to 5,727. For the week, Github connects totaled 3,028, while Cardano native tokens stood at 4.9 million.


Also, the number of Plutus scripts was 2,745. ADA is currently trading at $0.46, down 2.28%.


免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

发表评论

暂时没有评论,赶紧抢沙发吧!