Analistul Morningstar îl consideră pe Cardano (ADA) drept una dintre criptomonedele „cele trei mari”

Manager de portofoliu Morningstar Amy Arnott said Cardano, along with Bitcoin and Ethereum, has the potential to form the “big three” of mainstream cryptocurrencies.

She pointed out each has its pros and cons. However, Cardano will soon offer the technical applications of Ethereum, but without its extreme volatility. Whereas she claims Bitcoin lacks the ability to generate cash flow.

With that, Arnott states these qualities will undoubtedly catch the eye of institutional investors as its ecosystem fills out.

Cardano shows stability in the face of panic

The eagerly anticipated Alonzo protocol is edging closer to rollout with each passing day. Earlier this month, Input Output Global CEO Charles Hoskinson gave an update, saying:

„Considerând toate lucrurile, viteza este exact acolo unde trebuie să fie, progresul este exact acolo unde trebuie. Vine Alonso.”

Throughout this period, Hoskinson has taken the time to keep the community posted on Alonzo’s progress so far. Current estimates put a mid-August/early September date on the rollout.

Soon, Cardano will have the functionality to compete with other smart contract platforms. Arnott mentioned that the potential technical applications on Cardano might stimulate interest from institutional investors.

„Cardano este similar cu Ethereum prin faptul că este un protocol care are o mulțime de aplicații tehnice potențiale. Există mult entuziasm pentru Cardano și, de asemenea, diverse stablecoins.”

ADA peaked at $2.50 during the run-up in May. Following a -64% drop, as FUD took hold, it bottomed at $0.90 over a four-day period. Since then, ADA has been ranging between $0.98 and $1.90.

In line with Bitcoin’s revival this past week, ADA has also seen a return of bullishness. Yesterday saw a 26% swing in price, moving above the 50-day MA for the first time since mid-June.

But the price soon retraced to close yesterday below that level. Today sees another attempt to move above the 50-day MA.

RSI shows a sharp upswing since last week. Currently, momentum is heading towards overbought territory with a reading of above 50.

Barriers to moving mainstream

Although Arnott used the word mainstream in her comments, in truth, cryptocurrency presents a number of barriers to going mainstream.

Regulatory uncertainty is perhaps the primary reason for turning people off. But then again, the issue of usability, more specifically, ease of use, is often overlooked.

The CEO of SRAX, Christopher Miglino, points out that cryptocurrency can be intimidating for the average person. This prevents many people from even trying to get involved.

„Experimentația tehnologică necesară pentru a cumpăra și a vinde criptomonede cu încredere este o barieră suficient de mare la intrare încât împiedică neprofesionul să înceapă. Multe companii încearcă să facă totul mai ușor, dar omul obișnuit este încă intimidat de proces.”

As such, perhaps smart contract superiority may not come down to which platform offers the best, most profitable applications. Instead, the battle could be won on simplicity.

Ca ce vezi? Abonați-vă pentru actualizări.

Source: https://cryptoslate.com/morningstar-analyst-pegs-cardano-ada-as-one-of-the-big-three-cryptocurrencies/