HomeCoinsBitcoin (BTC)Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether...

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

- Advertisement -


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.

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.





Source link

- Advertisement -
profile logo 500x500
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,486FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 42,842.00
ethereum
Ethereum (ETH) $ 2,919.64
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 514.21
litecoin
Litecoin (LTC) $ 152.93
eos
EOS (EOS) $ 4.04
okb
OKB (OKB) $ 13.14
tezos
Tezos (XTZ) $ 7.18
leo-token
LEO Token (LEO) $ 2.90
cardano
Cardano (ADA) $ 2.42
monero
Monero (XMR) $ 238.39
stellar
Stellar (XLM) $ 0.280179
chainlink
Chainlink (LINK) $ 23.02
huobi-token
Huobi Token (HT) $ 9.24
tron
TRON (TRX) $ 0.091468
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 165.48
neo
NEO (NEO) $ 39.40
iota
IOTA (MIOTA) $ 1.24
nem
NEM (XEM) $ 0.149141
zcash
Zcash (ZEC) $ 110.66
maker
Maker (MKR) $ 2,277.64
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 47.77
vechain
VeChain (VET) $ 0.091937
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 51.95
kucoin-shares
KuCoin Token (KCS) $ 10.63
waves
Waves (WAVES) $ 24.40