Cardano

Arthur

Coin

BlackRock

Cardano (ADA) faced dismissal by <a href="https://news.todayq.com/arthur-hayes-expects-bitcoin-to-hit-1-million/" target="_blank" rel="noopener noreferrer nofollow">Arthur Hayes</a>. The ex-CEO of BitMEX called Cardaono a ‘wannabe Ethereum’ as he questioned its importance. In a recent discussion with Coin Bureau, Hayes called Cardano “the first wannabe Ethereum” and expressed doubt over the significance of this cryptocurrency in relation to digital money which could ever turn it into some first case of irrelevance. Hayes’ views on Cardano 
In the crypto universe, according to Hayes, substance should take priority over form. He warned investors against falling for projects with glossy marketing but no real technological advancement. According to Hayes many altcoin projects in the market promise revolution without having the necessary engineering or cryptographic accomplishments.
According to Hayes, “When you detect that you’re being marketed to too heavily, that should give you a bit of pause.” EOS is an example that he used and global promotions featuring famous personalities overshadowed what investors saw as its essence.
When the topic of Bitcoin ETFs came up, Hayes described how investment products in the crypto world have changed over time. He observed a number of major milestones and differences in regulatory treatment and market acceptance through the years. Nonetheless, he derided the recent approval of Bitcoin ETFs, arguing that it doesn’t bring financial freedom but is just another way for traditional financial institutions to make money from cryptocurrency mania.
“It’s a trading product that makes fees for BlackRock and Fidelity and all the other major asset managers,” said Hayes. He called out all the ADA ‘believers’ 
Hayes was also not afraid to express himself on social media. Hayes even took to social media where he further criticized Cardano. On X, he put ADA supporters into question by asking them if they knew any heavily used dApps on the Cardano platform. In his tweet, which was sent to <a href="https://news.todayq.com/charles-hoskinson-stormed-on-twitter-user-claims-thousands-of-assets-live-on-cardano/" target="_blank" rel="noopener noreferrer nofollow">Charles Hoskinson</a> appeared doubtful about Cardano’s utility when he commented “That’s why $ADA is dog shit.”
For all you
At the time of this writing, Cardano’s market condition has been highly volatile and currently, ADA is being sold at $0.5862, which shows a decrease of 6.94% in the last 24 hours. As with the cap, this has also decreased by 7.22% to around $20.79 billion. Nevertheless, ADA remains the eighth-largest digital currency by market capitalisation.
From the perspective of trading volume, over the previous day, it has risen by 3.64%, which amounts to close to $716.1 million. It represents about 3.44% of ADA’s total cap on the marketplace.
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

Arthur Hayes labels Cardano as ‘Wannabe Ethereum,’ Here’s why

Todayq News

Altri articoli pubblicati su 21 feb 2024

Binance adds Portal (PORTAL) to Launchpool

Wemade and Lithuanian developer BREACH.GG onboarding Project Apidom on WEMIX PLAY

Do Kwon to be Extradited Following Crypto Turmoil

Bitcoin ETF: BlackRock’s IBIT & Grayscale’s GBTC Plunge Pre-market After Weak Inflow

Anticipation Builds as SEC Mulls Over Ethereum ETF Decisions

Andrew Yang and 300 international experts petition for government action on AI deepfakes

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!