Cardano overtakes Bitcoin on EToro’s social trading platform

A report by the eToro platform analyst reported that Cardano has beaten Bitcoin as the crypto with the most users on its platform.

Bitcoin is the king of the cryptocurrency market and now a coin can be at the top by trading volume. There are ways that a coin can have more investment than Bitcoin.

Simon Peters, crypto market analyst at the eToro platform, spoke about the success of Cardano in the second quarter of 2021. Cardano is the cryptocurrency on their platform that holds the most, then Bitcoin. While Ethereum is in third place.

Simon said this is because of the new clear roadmap for the Cardano project and their upcoming Alonzo hard fork.

Alonzo Harfork will allow developers and new projects to develop their own crypto in the Cardano chain and also many kinds of functions that can be implemented in the Cardano chain.

Related: Input Output Hong Kong has introduced AlonzoBlue 2.0 in the ADA testnet

And experts also believe that Cardano will be a biggest competitor to Ethereum-like coins after the Alonzo hard fork, as new projects will move towards a better platform for integrating their services with blockchain technology.

Simon also believes that the Cardano team is really working on the features they need instead of going through a marketing strategy.

Since Cardano has potential, they don’t have to advertise and just do their job to get the most out of blockchain technology through Cardano’s ecosystem.

According to reports, the total market value of investments in ADA is $ 42 billion (at a price of 1.33), data from Coingecko.

It should be noted that the demand for Bitcoin has increased by 42% but has decreased due to the Cardano project. If Cardano does its development and improvement work in a similar way day in and day out, ADA will certainly be the only coin after Bitcoin on any platform in the future.

Also read: The crypto market is very opaque and volatile, understand the risks: Elizabeth Warren

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