Retail investors in the United States are now more bullish on Cardano price than Bitcoin
In a recent survey by crypto broker Voyager Digital, about 31.9% of investors are bullish on Cardano (ADA) price. Perhaps the reason is also understandable because ADA has recently been at the forefront of the cryptocurrency market, securing the fifth-largest cryptocurrency position by market cap. It has seen a massive uptrend, from $ 0.4 to over $ 1 in just a few weeks. This token has demonstrated its potential in the market.
BTC/USD 4-hour chart | Source: TradingView
Retail investors in the US are now more optimistic about Cardano price (ADA) than Bitcoin
The survey results show that about 31.9% of investors polled are the most optimistic on Cardano. Meanwhile, only 22.2% chose BTC over ADA. The results come after Cardano hit an all-time high near $ 1.5 last month.
Steve Ehrlich, CEO of Voyager Digital, said:
“Of course, everyone is talking about Bitcoin these days, but seeing Cardano coming ahead of it was a really big surprise for us.”
Moreover, the survey results also show the enthusiasm that users are for cryptocurrencies. Besides BTC, the investors were still showing bullish on Ethereum with 12.2% and Polkadot around 6.3%. The results also show that the diversity of the crypto ecosystem has grown, as investors have more assets to choose from.
Even so, Bitcoin still receives the most attention. Approximately 1,385 investors in the United States were questioned and both expected Bitcoin’s price to trade between $ 51,000 and $ 60,000 by the end of this month. Approximately 80% of respondents plan to buy more BTC this month.
60% of respondents believe that Bitcoin and other cryptocurrencies represent the largest store of value, above gold (8%), stocks (6%), and top-level government bonds (1%). The results of the Cardano-related survey are somewhat to be expected, as the price increase of more than 500% of cryptocurrencies this year has attracted the attention of retail investors, as an investor His $ 1,200 stimulus test bet on the ADA will now be over $ 40,000.
Searches for cryptocurrencies surpassed their 2017 highs last month and have continued to rise ever since. Google searches for a cryptocurrency are often used to measure retail investor interest. This year, the ADA has risen from around $ 0.17 to $ 1.11 at press time, after enduring a correction from new highs near $ 1.5.
The ADA’s rally could also be supported by crypto-buying whales. Dubai-based crypto investment fund FD7 Ventures has announced the sale of $ 750 million worth of bitcoins to increase its positions in Cardano and Polkadot.
Last month Gene Simmons, the famous bass player of the famous rock bank Kiss, announced that he had invested $ 300,000 in Cardano, shortly after announcing positions in electric currencies. Others include BTC, ETH, and DOGE.
Project catalyst is Cardano’s IdeaScale protocol, a community-driven feature that supports the building of Dapps, from the time of its launch to now it has become the world’s largest DAO. The platform has fundraisers for the distribution of ADA among the most valuable protocols selected by the community the second fundraiser distributed $250000 worth of ADA, the 4th fundraiser has already raised over $1 Million.
In addition to all the new projects on the platform, there has been an improvement in investor interest too, earlier Grayscale announced that intends to invest, increase its holdings in ADA, with some other Altcoins. According to stats, it has yielded 2000% returns for the investors in a year, the highest of all other currencies and commodities.
After an acute examination of Cardano’s growth and development trajectory, it is safe to say this will be the next Altcoin to take the market by a storm.
Read more:
- Cardano Has Once Again Been Featured As One Of The Top 50 Blockchain Projects By Switzerland’s Crypto Valley VC
- Trader Andrei Jikh Betting On Cardano (ADA) – Here’s Why