Take a look at the charts and any crypto investor will see Cardano currently suffering. Digital assets are currently closed to the rest of the market, which is suffering in light of China’s evergreen situation. As the situation evolved, the market went downhill. Its biggest connection to the market is the fact that Teether owns some of the so-called Evergrand bonds.
It has spread widely in the crypto market. Bitcoin fell to a one-month low with this news and as Altcoins followed, Cardano also lowered prices. A low blow that has not been seen since the rally began in August. Current indicators indicate a market ready for further declines. But Devere CEO Nigel Green believes that while the ADA is down, it’s certainly not out.
Cardano Streak is not over yet
Green explains his argument that Cardano’s heat continuity is far from over. The CEO noted recent technological advances in the project, such as the recent addition of smart contract capabilities to blockchain. For this reason, Green indicates that digital resources will soon reach new all-time highs.
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Speaking to Insider, the CEO noted that Cardano is currently gaining a reputation as a “green” cryptocurrency. In addition to a larger crypto market rally, Green has surpassed দাম 4 in digital asset prices by the end of 2021. Considering the current price point of the asset, it would increase by 91% to reach this point.
A big reason behind Green’s bullish stance about Cardano is related to the network’s applications. The recent addition of smart deals has now brought developed Decentralized Finance (DFI) to the market in Cardano. Again the use of blockchain is on the rise. Dave’s CEO believes that the ability to solve problems is a major driving force.
“The purpose of cryptocurrency, how long it has been in the market, market capitalization, and its underlying solutions are things you should look at. Cryptocurrencies that solve problems are more likely to succeed than fail. The longer the cryptocurrency in the market, the more trust it has gained and the more cryptocurrency developed in the strong network, the longer it will last, ”Green told Insider.
ADA price falls to $2.11 | Source: ADAUSD on TradingView.com
Just as bullish as Etherium
The bullish outlook for green doesn’t just fall on Cardano. The CEO further explained that he was as bullish as Etherium. The reasons for this were similar to those given to Cardano. Both projects become important to users in terms of their wide use and thus prepare for higher assembly in the market. Investor interest in the project has also increased, making it more valuable than most projects in the market.
Related Reading | Cardano founder Charles Hoskinson said the term of the smart contract needs to be changed
Ethereum, according to Green, will surpass Bitcoin. However, the CEO said, the leading cryptocurrency will definitely return to its all-time high before the end of the year. Bitcoin is being given a further 50% price increase. Not surprisingly, given its position, Green believes Ethereum will trade more than Bitcoin in the next five years.
Featured image from Investors King, chart from TradingView.com