{"id":567827,"date":"2024-01-03T21:00:07","date_gmt":"2024-01-03T21:00:07","guid":{"rendered":"https:\/\/wncen.com\/?p=567827"},"modified":"2024-01-03T11:11:02","modified_gmt":"2024-01-03T11:11:02","slug":"cardano-rivals-xrp-community","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-rivals-xrp-community\/","title":{"rendered":"Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling?"},"content":{"rendered":"<p class=\"p2\"><a href=\"https:\/\/wncen.com\/news\/dogecoin-and-xrp-beat-out-cardano-and-solana-to-secure-new-milestone\/\">Cardano has consistently remained one of the largest cryptocurrencies<\/a> in the industry with the price of its <a href=\"https:\/\/wncen.com\/news\/cardano\/cardano-growing-organically-like-bitcoinada-boom\/\">native ADA coin<\/a> following the crypto market rally. However, it has not performed as well as other cryptocurrencies despite its marked popularity among investors. Given this, crypto pundit Ben Armstrong, popularly known as BitBoy, has shared his views on why the network is struggling.<\/p>\n<h2 class=\"p2\">Cardano Struggles Through Misinformation<\/h2>\n<p class=\"p2\">One of the problems that the crypto analyst <a href=\"https:\/\/www.youtube.com\/watch?v=SVfhnEgjR28\" rel=\"nofollow\">mentioned<\/a> that Cardano has run into over the years is the fact that there has been misinformation. A lot of times, Cardano has been subject to FUD (Fear, Uncertainty, and Doubt) especially when it comes to its decentralized finance (DeFi) capabilities.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/top-5-events-crypto-2023\/\">Top 5 Events That Shook Up The Crypto Industry In 2023<\/a><\/div>\n<p class=\"p2\">The network is really playing catch-up when it comes to DeFi as the likes of <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-momentum-reignites-technical-signals-potential-surge-to-2600\/\">Ethereum<\/a> and <a href=\"https:\/\/wncen.com\/news\/dogecoin-and-xrp-beat-out-cardano-and-solana-to-secure-new-milestone\/\">Solana<\/a> enabled this ability years before Cardano. However, the network has seen significant growth since it first announced smart contract capabilities back in 2021.<\/p>\n<p class=\"p2\">Armstrong explains that a lot of FUD have also been directed at the founder <a href=\"https:\/\/bitcoinist.com\/charles-hoskinson-praises-cardano\/\" rel=\"nofollow\">Charles Hoskinson<\/a> whose involvement with Ethereum as one of the co-founders in the early days is often called into question. But contrary to popular belief, the analyst believes that Hoskinson\u2019s involvement with Ethereum actually helps to boost the credibility of the <a href=\"https:\/\/wncen.com\/binance\/dogecoin-cardano-chainlink-binance\/\">Cardano network<\/a>.<\/p>\n<p class=\"p2\">Hoskinson has also been subject to allegations of being a scammer, as well as the Cardano network being \u201cfinished,\u201d among other interesting allegations, as well as its native ADA token being referred to as a stablecoin. The last part takes a jab at the fact that the <a href=\"https:\/\/wncen.com\/news\/cardano\/cardano-price-6-5-ath\/\">ADA price<\/a> has not moved much in the last year.<\/p>\n<p class=\"p2\">However, Armstrong explains that Cardano boasts one of the most decentralized token distributions in the entire crypto industry. \u201cCurrently, over 60% of the supply is staked and during the bull market, the number was well over 70% on a regular basis,\u201d he stated. This makes the coin an attractive choice for investors.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ALYGIUvd\/\" alt=\"Cardano ADA price chart from Tradingview.com (XRP)\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">ADA price at $0.61 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ADAUSD on Tradingview.com<\/a><\/pre>\n<h2 class=\"p2\">ADA Community Similar To XRP Community<\/h2>\n<p class=\"p2\">Armstrong has been vocal about his support for the XRP community which he believes is the strongest community in crypto. Then coming up behind the XRP community, the crypto analyst believes that the Cardano community is the second-strongest in the industry.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-is-bullish-crypto-analyst\/\">Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention<\/a><\/div>\n<p class=\"p2\">In addition to this, Armstrong calls ADA \u201cone of the most consistent performing coins in the history of crypto.\u201d ADA, on its own, has managed to perform incredibly well in each bull market since its inception. During the 2020-2021 bull market, the <a href=\"https:\/\/wncen.com\/news\/cardano\/crypto-analyst-forecasts-cardano-price-surge-to-0-70-heres-how\/\">ADA price<\/a> would go from around $0.02 to over $3 before correcting back downward.<\/p>\n<p class=\"p2\">Presently, the <a href=\"https:\/\/wncen.com\/news\/cardano\/cardano-will-rise-to-32\/\">ADA price<\/a> is trending at $0.61, rising approximately 143% in the last year alone. With a market cap of $21.7 billion, it is currently the eighth-largest cryptocurrency by market cap.<\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano has consistently remained one of the largest cryptocurrencies in the industry with the price of its native ADA coin following the crypto market rally. However, it has not performed as well as other cryptocurrencies despite its marked popularity among investors. Given this, crypto pundit Ben Armstrong, popularly known as BitBoy, has shared his views on why the network is struggling. Cardano Struggles Through Misinformation One of the problems that the crypto analyst mentioned that Cardano has run into over the years is the fact that there has been misinformation. A lot of times, Cardano has been subject to FUD (Fear, Uncertainty, and Doubt) especially when it comes to its decentralized finance (DeFi) capabilities. Related Reading: Top 5 Events That Shook Up The Crypto Industry In 2023 The network is really playing catch-up when it comes to DeFi as the likes of Ethereum and Solana enabled this ability years before Cardano. However, the network has seen significant growth since it first announced smart contract capabilities back in 2021. Armstrong explains that a lot of FUD have also been directed at the founder Charles Hoskinson whose involvement with Ethereum as one of the co-founders in the early days is often called into question. But contrary to popular belief, the analyst believes that Hoskinson\u2019s involvement with Ethereum actually helps to boost the credibility of the Cardano network. Hoskinson has also been subject to allegations of being a scammer, as well as the Cardano network being \u201cfinished,\u201d among other interesting allegations, as well as its native ADA token being referred to as a stablecoin. The last part takes a jab at the fact that the ADA price has not moved much in the last year. However, Armstrong explains that Cardano boasts one of the most decentralized token distributions in the entire crypto industry. \u201cCurrently, over 60% of the supply is staked and during the bull market, the number was well over 70% on a regular basis,\u201d he stated. This makes the coin an attractive choice for investors. ADA price at $0.61 | Source: ADAUSD on Tradingview.com ADA Community Similar To XRP Community Armstrong has been vocal about his support for the XRP community which he believes is the strongest community in crypto. Then coming up behind the XRP community, the crypto analyst believes that the Cardano community is the second-strongest in the industry. Related Reading: Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention In addition to this, Armstrong calls ADA \u201cone of the most consistent performing coins in the history of crypto.\u201d ADA, on its own, has managed to perform incredibly well in each bull market since its inception. During the 2020-2021 bull market, the ADA price would go from around $0.02 to over $3 before correcting back downward. Presently, the ADA price is trending at $0.61, rising approximately 143% in the last year alone. With a market cap of $21.7 billion, it is currently the eighth-largest cryptocurrency by market cap. Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":567834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83371,16896,3],"tags":[12333,89347,84005,89457,14643,79508,12332,84139,84164,89230,1286,4531,83637],"class_list":["post-567827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","category-cardano","category-news","tag-ada","tag-ada-news","tag-ada-price","tag-ada-price-performance","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-founder","tag-cardano-network","tag-cardano-news","tag-charles-hoskinson","tag-xrp","tag-xrp-news"],"acf":[],"yoast_head":"\n<title>Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling?<\/title>\n<meta name=\"description\" content=\"Cardano has 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling?","url":"http:\/\/wncen.com\/news\/cardano-rivals-xrp-community\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-rivals-xrp-community\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano-ADA.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano-ADA.jpeg?fit=1531%2C839"},"articleSection":"ADA","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","ada price performance","adausd","adausdt","cardano","cardano founder","cardano network","cardano news","charles hoskinson","xrp","xrp news"],"dateCreated":"2024-01-03T21:00:07Z","datePublished":"2024-01-03T21:00:07Z","dateModified":"2024-01-03T21:00:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-rivals-xrp-community\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-rivals-xrp-community\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano-ADA.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano-ADA.jpeg?fit=1531%2C839\"},\"articleSection\":\"ADA\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"ada price performance\",\"adausd\",\"adausdt\",\"cardano\",\"cardano founder\",\"cardano network\",\"cardano news\",\"charles hoskinson\",\"xrp\",\"xrp news\"],\"dateCreated\":\"2024-01-03T21:00:07Z\",\"datePublished\":\"2024-01-03T21:00:07Z\",\"dateModified\":\"2024-01-03T21:00:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Cardano-ADA.jpeg?fit=1531%2C839","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/567827"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=567827"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/567827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/567834"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=567827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=567827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=567827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}