Analyst: Cardano is a protective tool just like bitcoin

A well-known crypto analyst and Twitter user @ADA-whale (whales are holders of large sums of money that can influence the market rate of a coin) is confident that in many respects, the Cardano cryptocurrency (ADA) is similar to bitcoin (BTC).

According to the analyst, bitcoin has become what it is today because of its accessibility in the early years of its existence, which allowed many people to buy it for a reasonable amount, resulting in a huge number of holders in the future.

According to the whale, the similarities do not end there. Like Bitcoin, Cardano has a limited issue — there can only be 45 billion ADA in total. And 75% of them are already in circulation (for comparison, 19 million are in circulation out of 21 possible in BTC). The limited maximum supply and the inability to print the currency as the creators of the disastrous Luna project did also affect the price.

At the same time, the analyst does not advise investing in the coin now: «This is a bear market, so be prepared for many months of losses if you do decide to buy now. I’m just trying to imagine the market in the long term.»