Recently, popular crypto analyst Elliot Wainman shared his latest thoughts on Cardano ($ADA) and its ecosystem.
In a recent YouTube video (titled “CARDANO ECOSYSTEM IS ABOUT TO MAKE HOLDERS THE BEST GAINS”), Wainman talked to viewers about the huge potential of Cardano-powered decentralized apps (DApps) once support for smart contracts goes live.
According to a report by The Daily Hodl, he said:
“It does feel as if there’s a sea change on the horizon here, and that Cardano is not only going to start shipping, but that the projects and ecosystems that will be built over there are set to have Solana-like, Polkadot-like, BSC-like (Binance Smart Chain) gains, and that means that those who invest early in the right projects will most likely experience some serious parabolic gains.“
He also talked about Cardano’s huge and passionate army of fans/supporters:
“Now people love to hate on this but I believe that one of the most powerful valuation tools for crypto is Metcalfe’s law. This is why Bitcoin tends to go parabolic the more people get involved in it. Essentially, Metcalfe’s law is the concept of how you can calculate the actual value of a network. And that’s what blockchains are. They’re networks of computers, of developers, of users...
“Metcalfe’s law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2). So essentially, the more users, the more people, the more value...
“Cardano does have a knack for adding users and people to its network in a way that other blockchains should certainly strive to do, and something that I think that they can do pretty uniquely. I think it comes down to Charles [Hoskinson] and his unique charisma.“
It’s worth noting that the price of Cardano’s $ADA token has been surging over the last few months. According to CryptoCompare data, $ADA is currently (as of 17:29 UTC on May 15) trading around $2.224.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.