Market Analysis, News

Market News, Stock Advice & Trading Tips – Is Cardano Really Ethereum Killer?

Cryptos have lost some of their allure in modern weeks, as most of the binary legal tenders & crypto market saw data highs firstly in the year, but those surprising prices are now in the analysis mirror.

While equity markets make new highs, analysts arguments whether altcoins have any significant upside left in the rest of the year.

Bitcoin (BTC/USD) and Ethereum (ETH/USD) are the two most important cryptos. Their respective market capitalizations (caps) stand at dollar 862 billion and dollar 366 billion, and the two comprise around two-thirds of all cryptos. The joint market cap held by the duo is remarkable when we remember there are more than 6,000 altcoins. That counting had been around 60 a decade ago.

Crypto Market News, Stock Advice & Trading Tips

In late July, rumors were that Amazon (NASDAQ: AMZN) could be getting into the crypto space gave a boost to many digital coins, starting with BTC-USD and ETH-USD. Meanwhile, a number of investors have turned to stocks like Coinbase Global (N.A.S.D.A.Q: C.O.I.N), PayPal (N.A.S.D.AQ: P.Y.P.L), or Square (N.Y.S.E: S.Q) for indirect crypto exposure.

M.I.T professor Silvio Micali founded the Algorand network in 2019. Its native crypto, ALGO/USD, should appeal to readers who think decentralized finance (DeFi) applications and traditional finance products will growingly converge.

Algorand’s permissionless pure proof-of-stake (PoS) blockchain protocol supports a wide range of smart contracts. Developers creating applications and protocols on the platform. Among the hundreds of organizations using the Algorand network are Circle, ClimateTrade, Opulous, the Republic of the Marshall Islands, and Tether (USDT/USD).

BitTorrent is currently hovering at 0.39 cents (or about dollar0.0039), up more than 1000 percent year-to-date. On 6th April it reached an all-time high just shy of dollar 0.0106. Like other cryptos, BTT/USD has been on the decline since then. Given the increase in user base, the altcoin deserves your attention.

The Ethereum Killer Crypto ‘Cardano (ADA/USD)’ – Market Analysis

52-week price range:  $0.0761 — $2.4618

Market cap: $47.7 billion

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Source Coinmarketcap – Cardano (ADA/USD) 3 Months Chart

Following a breathtaking rally over the past year, Cardano (ADA/USD) is now the fifth largest crypto by marketing cap. The Cardano blockchain uses proof-of-stake (PoS) validation and a layer of two computational structures. Therefore, it offers an alternative to the scaling issues of Bitcoin.

Cardano has the sharp contract features of Ethereum without the high GAS fees which are associated with the Ethereum blockchain. Many of the readers will be Cautions of how such high fees are regarded as a limiting factor for the development of the DeFi space. As a result, Cardano has been called the “Ethereum killer” crypto.

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