Fun

Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether

News Feed - 2021-07-26 12:07:38

Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether


A portfolio strategist for American financial services firm Morningstar says that cardano could become a mainstream cryptocurrency alongside bitcoin and ether, forming a “big three” of mainstream cryptocurrencies. Strategist Believes Cardano, Ether, Bitcoin Could Become Mainstream Cryptocurrencies


Amy Arnott, a cryptocurrency-focused portfolio strategist at Morningstar, shared her views on crypto regulation, ether, and cardano in an interview with the Insider last week.


Noting that since many cryptocurrencies are not cash-generating, Arnott said it is difficult to determine a suitable price for them. However, she explained that ether has an in-built price to an extent because it is used to power decentralized finance (defi) transactions and support non-fungible tokens (NFTs). The strategist elaborated: The fact that ether is used as a utility should provide some sort of price floor, but I’m not sure what that should be. A lot of people talk about a network effect where these currencies become more valuable as they are used more and there are more interdependencies and connections.


Arnott also believes that cardano (ADA) is a promising cryptocurrency that could join bitcoin and ether to form a “big three” of mainstream cryptocurrencies. She elaborated: Cardano is similar to ethereum in that it’s a protocol that has a lot of potential technical applications. There’s a lot of enthusiasm about cardano, and also various stablecoins.


The Morningstar strategist continued to share her view on the institutional adoption of cryptocurrencies. “The interesting thing that’s happened over the past year or so is that institutional investors have been far more willing to adopt cryptocurrencies and look at them as an investment asset. As that trend continues we’ll see other cryptocurrencies become more mainstream,” she opined.


She noted that she would really like to see a diversified cryptocurrency index fund in the form of an exchange-traded fund (ETF). However, the U.S. Securities and Exchange Commission (SEC) still has not approved any crypto ETF, making it “very difficult for mainstream investors to gain exposure to cryptocurrencies.” Arnott opined: Regulatory risk is a big issue – that’s been the driving factor behind a lot of the volatility over the past few months. If governments around the world clamp down on crypto in general, or bitcoin and ether specifically, that would be a large negative.


What do you think about the comments by the Morningstar strategist? Let us know in the comments section below. Coinbase Commerce Now Supports Dogecoin Payments ALTCOINS | 3 days ago Nigerian Pop Artist Shills Meme Coin and Price Briefly Doubles — Followers Question Artist"s Motives ALTCOINS | 4 days ago Tags in this story ada, big three mainstream cryptocurrencies, bitcoin etf, bitcoin ether, Cardano, cardano bitcoin, cardano ether, cardano mainstream, crypto mainstream, cryptocurrency mainstream, ETF


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Cointelegraph Research8 hours agoCrypto VC funding tumbles as economic uncertainty scares off investorsJune rejected the three-month trend of rising venture capital investment into crypto, though that’s not necessarily
Is The Bitcoin Bottom In After Trump’s Tariff Pause? Here’s What To Expect
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry
Nigerian Blockchain Advocacy Group Says "Crypto Is Legit" — Calls for Regulation of Industry The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Ass
Bitcoin Hashrate Spikes to 120 Exahash: Difficulty Drops Allowing Miners to Rejoin the Competition
Bitcoin Hashrate Spikes to 120 Exahash: Difficulty Drops Allowing Miners to Rejoin the CompetitionThe Bitcoin hashrate is up this weekend after the network experienced it’s fo
Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Mining ETC
Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Mining ETC Antpool, the bitcoin mining pool affiliated with Bitmain, has announced the crypto mining operation
Guneet Kaur12 hours agoCrypto horrors: Tales of lost Bitcoin walletsFrom accidental deletions to enigmatic heists, lost Bitcoin tales emphasize the paramount importance of stringent security measures in the crypto world.
Pyth Network launches real-time market data on Hedera
David Attlee10 hours agoPyth Network launches real-time market data on HederaMore than 400 Pyth price feeds will be launched on the open-source, proof-of-stake public ledger Hedera.926 Total views10 Total sharesListen to
Bitcoin, Ethereum Technical Analysis: BTC Moves Briefly Back Above $25,000
Bitcoin, Ethereum Technical Analysis: BTC Moves Briefly Back Above $25,000 Bitcoin briefly moved back above $25,000 on Thursday, as markets rebounded from a volatile session the da
3 FTX Execs Have Snitched on SBF, Now Scrutiny Is Aimed at Nishad Singh and Ramnik Arora
3 FTX Execs Have Snitched on SBF, Now Scrutiny Is Aimed at Nishad Singh and Ramnik Arora On Dec. 21, U.S. law enforcement officials from the Southern District of New York (SDNY), t
El Salvador Bitcoin holdings hit record $164M as BTC profits pass $50M
William Suberg9 hours agoEl Salvador Bitcoin holdings hit record $164M as BTC profits pass $50MBitcoin adoption in El Salvador has netted the government up to $53 million in profits thanks to BTC price record highs.3527
US and South Korea to Share Data on Crypto Cases, Including LUNA and UST Meltdown: Report
US and South Korea to Share Data on Crypto Cases, Including LUNA and UST Meltdown: Report The U.S. and South Korean governments have reportedly agreed to share data on ongoing cryp
NFT Sales Dip by 32% in the Last Week, Ordinals Squeeze Into Top 10 Collections via Emblem Vault
NFT Sales Dip by 32% in the Last Week, Ordinals Squeeze Into Top 10 Collections via Emblem Vault After a significant spike in February, sales of non-fungible tokens (NFTs) in the l