Tuesday, October 19, 2021

Crypto Giant Grayscale Pinpoints One Key Factor That Would Drive New Investors to Cardano (ADA)

Grayscale Investments, the largest crypto asset manager in the world, has pinpointed one key factor that is capable of driving new investors to Cardano and its native token ADA in the future.

In a report published on 3rd October 2021, the crypto giant Grayscale revealed that Cardano, the largest proof-of-stake (PoS) blockchain is currently processing over 115,000 transactions per day, relatively 13x since the start of the year.

Read Also: Swiss-Based Exchange Lists ADA with Zero Fees, Cardano Foundation Says It’s a Milestone for Further Development

Cardano’s Network Growth Sustenance Is Vital

Moreover, the research report says the Cardano network now has about 2.8 million users, which is a 7.3x increase since the beginning of 2021. Thereby, the crypto asset manager concluded that sustaining the growth of Cardano network could be the key factor to driving existing and outside investors to Cardano (ADA).

Grayscale wrote:

“If dApps (decentralized applications) and other new use cases attract new users, drive increased network usage, and improve Cardano’s metrics, these factors may support a fundamental value rotation into ADA by existing and outside investors.”

Grayscale further stated that the ability of Cardano to develop a compelling cloud super application platform and decentralized application (dApp) ecosystem for users will determine whether the blockchain’s success would stand the test of time:

“Multiple Web 2.0 cloud providers – including AWS (Amazon Web Services), Google Cloud, Microsoft Azure, Alibaba Cloud and Tencent Cloud – have achieved material success today to differing degrees.

Read Also: Cardano Chosen to Power Artificial Intelligence (AI) Modules of a Humanoid Robot Named Grace

“The crypto cloud market may follow a similar path, and Cardano may not need to be the only winner to achieve success. If Cardano can reach its goals, its features, along with the network’s large user community, may allow the ecosystem to capture meaningful share within the rapidly growing crypto cloud platform market.”

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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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