CEO of Crypto Capital, Dan Gamberdello, said he is more confident in Cardano (ADA) now than when it was at its high of $3. The crypto has gained 6%, although in the past 24 hours it has returned to $0.39.
The CEO of Crypto Capital says he is more confident in Cardano (ADA) than when it was worth $3
Dan Gambardello, the CEO of Crypto Capital, wrote a tweet that he feels more confident now in Cardano (ADA) than when it was worth $3 at the height of the bull market.
I am more confident about Cardano now than I was at $3 ADA in the bull market high.
— Dan Gambardello (@cryptorecruitr) April 10, 2023
It was 4 September 2021 when ADA had crossed $3, just days before the Alonzo fork that added support for smart contracts on Cardano’s mainnet. Since that time, ADA’s price has since fallen by more than 85%, while its ecosystem has seen great growth.
And indeed, there are now 122 projects launched on Cardano, while 1221 are under construction. Not only that, the network has recorded 64.2 million transactions, with 8.09 million native Cardano tokens.
In addition, there are now 7,597 Plutus scripts: which is to say that the ecosystem is filling up with different dApps.
It is likely that Crypto Capital’s Gambardello is making reference to this very growth in the ecosystem that makes the crypto more reliable, as opposed to just the bull run in price.
Crypto Capital CEO and the Cardano (ADA) price trend
Despite the confident message from Crypto Capital’s CEO, the price of ADA has followed the general trend of cryptocurrencies.
Indeed, while it had gained 6% yesterday, touching $0.41, in the last 24 hours it seems to have settled back down, and fallen back to $0.39.
Cardano is the seventh largest crypto by market capitalization. It has remained one of the historic crypto assets, along with Bitcoin but also Ethereum and Ripple, to stand in the top 10 cryptocurrencies. Litecoin, on the other hand, is in 13th place.
At the time of writing, ADA’s market cap exceeds $13.6 billion, while Cardano’s dominance is 1.12% of the entire crypto market.
This April, Cardano’s platform announced that it has integrated Liqwid Finance, a protocol that offers decentralized interest rate curves for loans and mortgages on Cardano.
Liqwid Finance uses Charli3 technology for new loan calculations, updating collateral values, and initiating liquidations for under collateralized loans.
Charles Hoskinson: “crypto vs banks”
With news of the collapses of various banks, Cardano founder Charles Hoskinson said that the crypto world should mature to the point where it will be able to move away from banking risk.
Unusual to say, given that for many it is the crypto world that is volatile, but the latest news about troubled banks has given pause for thought.
Hoskinson actually said that the only way to grow the cryptocurrency ecosystem is to cut their ties with banks, which only jeopardize the entire system that has done nothing but grow so far.
Not only that, in a podcast, Hoskinson again recounted that in 2014 the Swiss bank Credit Suisse, recently acquired by UBS to avoid collapse, had refused him to open an account. At that time, Hoskinson was CEO of Ethereum (ETH) and was based in Switzerland.
Credit Suisse’s reason for that choice was that “crypto is dangerous.” A dismissive attitude of the bank toward the cryptocurrency industry, which Hoskinson wanted to recall precisely because it backfired on them.
Source: https://en.cryptonomist.ch/2023/04/12/crypto-capital-bets-cardano-ada/