Survey Shows Cardano (ADA) Is The Most Held Token In Bear Market.
Cardano has been one of the most resilient blockchain networks in the industry. It has withstood the test of time. Founder Charles Hoskinson has marketed Cardano as a strong, futuristic system with a developer team that prefers diligence over speed.
Every once in a while, Cardano is upgraded with a fork to introduce new features and advance the ecosystem.
This is probably why it has gained so much popularity. ADA is the native token on Cardano. A recent survey conducted by London Real on Twitter shows that Cardano is the most held token in a bear market.
— London Real (@LondonRealTV) June 7, 2022
Cardano Scores 77%
London Real fielded 4 options for people to choose from in the survey – Bitcoin, Ethereum, Cardano, and “others.” The goal of the survey was to establish which of the tokens in the market was held most by investors during this bear market.
Apparently, people are more into Cardano than Bitcoin, Ethereum, or any other crypto coin. Cardano scored 77% in the survey, with Bitcoin and Ethereum scoring 11% and 5% respectively. The collective choice of other altcoins scored 7%. From its look, it’s clear that Cardano carries the day.
Cardano founder Jubilant:
Cardano founder Hoskinson was immensely satisfied with the results and voiced his thoughts: “Cardano always shows up in force”
Cardano always shows up in force https://t.co/RkygV4YvbR
— Charles Hoskinson (@IOHK_Charles) June 7, 2022
FOMO For Vasil Hard Fork?
One thing common in the crypto market is that investors always go with the project with the highest near-future potential. At the moment, Cardano fits that bill because of the planned Vasil upgrade slated for June 29. The upgrade is meant to streamline the support of smart contracts on Cardano.
As is always the case, Cardano’s price bumps up by big margins every time such an upgrade happens – the bear market notwithstanding. This could be the reason behind the huge numbers of investors holding Cardano.
Also, as mentioned before, Cardano is presented as a strong network with huge future potential. The Vasil upgrade will only cement this reputation and could lead to even more money flowing into the Cardano/ADA market.
As a matter of fact, Cardano is already experiencing the effects beforehand, as noted in an analysis by BTCC. At the moment, the coin is trading at around $0.63, with a 24-hour jump of 9.8%.