ADA has the potential to become a scarce asset like the leading crypto Bitcoin (BTC), according to ADA Whale, which addresses the Cardano community.
According to Whale ADA, Cardano may be as scarce as Bitcoin!
Cardano remains one of the few cryptocurrencies to approach Bitcoin’s dispersal and inflation, according to ADA Whale, who addressed the Cardano community on Twitter. Also, the ADA whale thinks that ADA may become a rather scarce asset at some point in the future, as the leader may follow a crypto-like path.
1/BTC started trading July 2010, 4.5 years later (2014) had a market cap of $4.4bn
ADA started trading Sept 2017, 4.5 years later has a mkt cap of $15.4bn (*tho staking didn’t start till 2020)
Adjust BTC figure for inflation (Shadowstats 1980 approach), that isn’t very far off
— ADA whale (@cardano_whale) May 28, 2022
ADA Whale, fair distribution of price He states that he found the dynamics of Bitcoin to be correct due to its stable supply and low enough to allow many people to buy it. As it is known, the mysterious Bitcoin creator Satoshi Nakamoto also limited the maximum BTC supply to 21 million tokens, believing that scarcity can create value. As we have mentioned in Cryptokoin.com news, the 19 millionth Bitcoin was issued in April and there are only two million BTC left to be mined in about 100 years.
Cardano, unlike its rival leading altcoin Ethereum, has a limited supply and only 45 billion ADA can be created during the altcoin’s lifetime. According to CoinMarketCap data, 33.82 billion ADA are currently in circulation, accounting for 75% of the maximum supply, and 34.27 billion ADA have been created so far.
Cardano Whale, on the other hand, thinks it may not be time to load up on ADA in the current situation due to the ongoing negative market conditions, saying:
It’s a bear market, so Be prepared for possibly months of double-digit negative returns. I’m just trying to look at it from a long-term perspective.
Cardano’s closed Vasil Test-Net launched before Hard-Fork
According to the latest weekly report by Cardano’s parent company IOHK, closed Vasil test net was launched to evaluate its functionality with a specific set of dApps and users. The ADA team continues to work on consensus-specific improvements in anticipation of the Vasil Hard Fork Combinator (HFC) event in June.
Cardano Network Growth Statistics, Source: Essentialcardano.io IOHK shared a data containing network growth information. While there were 943 projects previously, the number of projects currently built on Cardano has reached 986. A total of 88 projects were launched in Cardano recently, while the number of NFT projects rose to 5,727. During the week, Github connect totaled 3,028, while Cardano native tokens stood at 4.9 million.
