Weiss Ratings is an independent rating institution founded in 1971 in New York. Its mission is to empower professionals, investors, consumers, and other users so that they can make intelligent decisions that don’t put them in unnecessary financial danger. The firm enjoys an outstanding reputation in the traditional financial markets and, now, it’s turning its expertise to the crypto verse. And it seems it likes Cardano (ADA).
Cardano’s currency, ADA, is the tenth largest cryptocurrency by market capitalization, and it also enjoys an outstanding reputation, especially in the academic world. Investors, analysts, and observers have been talking about Cardano since its inception. Weiss Ratings joined that conversation recently by tweeting that:
Cardano
Cardano is a blockchain project founded by Charles Hoskinson, who still serves as the project’s leader. Its developing team works hard to come up with a digital currency that’s genuinely free of bugs. The project’s team is very well-regarded all around the cryptosphere, and it’s quite experienced in all things blockchain.
Unlike many other crypto projects, Cardano keeps itself away from the limelight and the hype. Its focus is in the production of real-world solutions that can induce adoption by themselves instead of trying to push its coin’s price through promotional and marketing campaigns.
As we write this, ADA is trading at USD 0.07006 and stands in red numbers (6.81%) for the last 24 hours. It’s capitalized at USD 2.049 billion with a total circulation of almost 26 billion tokens.
The project’s leadership, headed by Mr. Hoskinson, works very hard to secure new strategic partnerships, especially in Africa. This is characteristic of Cardano. Most other blockchains focus their attention in Europe, Asia, and the Americas. Not Cardano. This organization knows the precarious state of the financial systems in most of Africa, so it sees that geopolitical zone as full of opportunities for cryptocurrencies to gain adoption quickly and make a massive difference in the user’s lives.
Mr. Hoskinson and Cardano founded Atala in Africa. It’s a blockchain-based enterprise framework which seeks to improve the quality (in some cases, to create from scratch) of the financial services available in the continent. It offers services to all kinds of customers (governments, companies, developers, and individuals).
Hoskinson said,
“Atala is an enterprise framework similar to Hyperledger Fabric,”
Cardano CEO added,
“However, the point is to be a solutions provider for governments in need of a municipal currency or a supply chain management system.”
This is not the first time in which an analysis based on fundamentals rather than technical analysis turns out being very favorable for Cardano. It’s indeed a great project that doesn’t get the attention (or market performance) it deserves, mainly because it’s so focused in Africa instead of Asia or the West.
However, Cardano’s progress will sooner or later become evident in terms of a rising price for ADA as the cryptocurrency’s use cases and the blockchain technology spread and find users thus creating demand and trading volumes. Keep an eye out for ADA and Cardano. Chances are you won’t regret it.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.