Crypto Evaluation: Cardano, Bitcoin, Ethereum, Dogecoin, Ripple, & the USD
Cardano (ADA):
Cardano (ADA) Crypto, currently holding fifth place in the global market of cryptocurrency, could potentially surpass Ethereum in coming years ahead. If you ask me, I think ADA has a promising future of being a commonly held crypto by decentralized banks, private companies, and long term investors. With Plutus smart contracts only being used by Cardano, taking away middle men, insurance companies, bank centralization, and mining setbacks, ADA stands solid. Cardano also has a CEO and mathematician who’s focused on playing the long-game for scale and interoperability, doing things the right way with patience and proper management, and most importantly, changing the entire world of wealth for average people. That’s a CEO who typically makes a powerful and long lasting company for decades. I like what I’m seeing in Cardano Cryptocurrency. If there is a potential crypto that can possibly reach the level of growth as Bitcoin or Ethereum, then ADA may very well be the ticker to survive among alternative currencies in the crypto rat race.
Dogecoin (DOGE):
Another popular altcoin in crypto has been Dogecoin, mainly due to Tesla and SpaceX CEO, Elon Musk, hyping the markets with hyper optimistic memes and tweets. However, Musk has been a prominent fan of Ethereum, which is largely supported by Cardano, who lies as the more energy efficient and software friendly option for digital currency expansion. Dogecoin does not have a limit to crypto, which essentially diminishes supply and demand, therefore making the cryptocurrency a very unlikely success in the future. Some of the more popular digital currencies do in fact have a limit, which raises the advantages of supply and demand prerequisites for those interested in long lasting crypto investments with profitable outcome opportunities. Dogecoin still does have a lot of support from Elon Musk and the CEO of Dogecoin has been outspoken on the price potentially reaching $50. This is one of the most volatile cryptocurrencies available, but there is still potential for the coin to grow.
Ripple (XRP):
Another popular market in crypto has been Ripple (XRP). However, Ripple CEO Brad Garlinghouse, is currently fighting a lawsuit against the U.S Securities and Exchange Commission (SEC) for allegedly defrauding billions of dollars worth of cryptocurrency and crypto mining. Although the crypto was designed to stand at $10 per coin, after lawsuits and lack of investor confidence, the currency stands to be high risk among crypto, which is already highly volatile. Not to mention, the CEO of Ripple was strong-armed into selling over $250 million of XRP (nearly 5.7 billion coins). If XRP wins their lawsuit against the SEC, then the coin could potentially re-expand and scale, potentially growing back to its original value. XRP is facing heavy uncertainty in their path moving forward, lacking stability and strong unlikelihood of profitability at this current time. It isn’t to say that XRP could potentially change that outcome, but as of today, things are looking gloomy for Ripple.
Who will follow Bitcoin (BTC) and Ethereum (ETH)?:
Currently, among performing altcoins available, Cardano (ADA) stands to be the strongest, most trustworthy, and reliable among investors who are looking for cheap buy-ins and long-term profit from the new and unpredictable world of cryptocurrency. The accuracy of these projections remain to be seen. Therefore, invest wisely, but certainly make no mistake, with inflation rates being at the highest level at 6.6% for year-to-rear numbers, the USD is crashing, and other monetary currencies across the globe are doing the same. El Salvador just recently made Bitcoin legal to mine and trade, fighting back against the central banks, therefore opening the doors to cryptocurrency, which will create a domino effect for other nations to follow in their path in the very near future. If Bitcoin goes up, which is inevitable, so does Ethereum, and many other digital currencies, one of those being Cardano.
Conclusion:
Unfortunately, but yet optimistically, universal currency is going to happen whether people are ready or not. Cryptocurrency and digital currencies alike will undoubtedly become the new way of finance in terms of today’s recurring industrial revolution. Technology and artificial intelligence have taken over, and with that being said, people should begin to invest in Cryptocurrencies while giving close attention and due research to the new system of wealth - which will be cryptocurrency. We are currently seeing the largest wealth transfer in history, and it doesn’t just have to be the Fortune 500 CEOs who gain reward. Opportunity stands for the average ordinary person who works 9-5 and does their research on potentially life changing systems of monetization. Invest wisely, and be ready for a major shift in the way money is made and compounded within these next two years. Get on the ship now and ride the wave, or… get ready to sink or swim. This is the world we live in, and when opportunities arrive at our doorstep, we should never be hesitant to invite those new opportunities in. Good luck.