Cardano influncer has spotted that majority of people go for ADA rather than VC coins during bear markets
An ADA community influencer known as ADA Whale (@cardano_whale) has taken to Twitter to share his observations regarding crypto assets that a large number of people are “hardcore accumulating” during the current bear market. ADA interests them a lot more than regular “VC coins.”
Buying ADA instead of VC coins
He believes that investors prefer to grab Cardano’s ADA, rather than VC coins that fell to the price bottom during the current bear market and the previous one, which began in early 2018 and ended last year with Bitcoin, Dogecoin and other leading cryptos hitting new all-time highs.
VC coins are crypto projects that, at the start, are totally funded by venture capitalists rather than raising money via public offerings, ICOs. After such coins are released, a pump-and-dump scheme happens in the retail market.
ADA Whale believes that people who say they are ready to grab fallen VC coins might be “the usual suspects,” while “new shiny objects will soon appear,” according to the tweet.
Maybe I’m wrong, but I don’t see many people hardcore accumulating fallen VC coins the way we did with ADA in both last and current bear markets. People saying they’re ready to buy in on beaten down VC coins are mostly the usual suspects, and shiny new objects will soon appear
— ADA whale (@cardano_whale) December 28, 2022
Here’s what struck Solana hardest: BitBoy
Controversial crypto YouTuber Ben Armstrong, aka Bitboy, has posted a table of the percentage of electricity consumed by various proof-of-stake-based cryptocurrency platforms per transaction, including Visa, to compare them with a noncrypto giant.
The YouTuber stated that for centralized platforms it is easy to save electricity. He pointed out that Solana decided to bet on “speed through centralization,” and that was the thing that hit its technology the hardest.
Cardano is on the far end of that list, surpassing Algorand, Avalanche, Visa, Polkadot and Tezos. Solana comes at the very start of the list, with the lowest volume of consumed electricity at 0.17%.
Cardano, according to the table, consumes 51.59% per transaction, meaning that Cardano is a lot more decentralized than Solana.
It’s real easy to save electricity when you are centralized. If you are unaware, the prioritization of speed through centralization is the number one thing that hurt the Solana tech. There’s a reason $ADA is top of this list. Get it yet?