Dan Gambardello, founder of Crypto Capital Venture, told Wednesday what his favorite cryptocurrency is. His preference is Cardano, and that comes as no surprise. In fact, he has already spent a lot of time talking about this currency.
‘Don’t take my opinions so personally’
“Cardano is my favorite crypto. That’s why I cover it so much,” he told his quarter-million followers on Wednesday. “If that ever changes, I’ll let you know! This is my crypto journey, and I’m just documenting it. Don’t take my opinions or portfolio so personally.“
With that last comment, he just doesn’t exactly inspire much confidence. That’s also almost impossible if you’re going to price altcoins so high, because there must be good reasons for that. “Cardano is my favorite crypto, that’s why I handle it so much” is not a good reason to add cardano to your portfolio. This was also another opinion he gave prior to yesterday’s drop.
Fundamentals are, of course, a good reason to purchase a coin. That’s why Gambardello posted a Twitter poll out yesterday to find out if the cardano community cares more about the fundamentals of cardano or the ADA rate. Here came an interesting result.
The ADA community usually makes itself heard in full on online platforms. The world’s eighth largest coin has been represented in the top 10 of all crypto coins for years, but the hype seemed to be more about the price, rather than the fundamental value.
Indeed, it now appears that the cardano community cares more about the fundamental value of cardano. This group just didn’t win by a distant margin. A whopping 47.5% of the community cares solely about the stock price. Perhaps this percentage would be different today a few days later, as Cardano’s test net was “catastrophically broken.
Adoption may increase after hardfork
Currently, ADA is trading at a price of about $0.54. The token has been on the rise for several days, rising 21% in the past month. This is still a big difference from the all time high ADA made last year at $3.10. Cardano might be able to get closer after the launch of the new hardfork.
Cardano will soon come out with the Vasil hardfork. This would significantly improve the scalability of the Cardano network. This should then lead to higher adoption, if developer IOHK is to be believed.