Crypto trader and influencer Elliot Wainman says Cardano (ADA) could see rapid development that could generate huge profits for early investors in the ecosystem.
Wainman tells his 322,000 YouTube subscribers that he believes those who invest in projects based on Cardano can make sizeable profits.
“It feels like a fundamental change is looming here and that Cardano will not just start shipping, but that the projects and ecosystems that are being built there will be Solana-esque, Polkadot-esque. BSC-like profits (Binance Smart Chain), and that means those who invest in the right projects early on are most likely to make serious parabolic profits. “
Wainman notes that Cardano has one of the highest social engagements of any crypto project. The analyst adds that Cardano founder Charles Hoskinson knows how to “corral” people and galvanize communities.
“Now people like to hate that, but I believe Metcalfe’s Law is one of the most powerful valuation tools for crypto. This is why Bitcoin becomes more parabolic the more people get involved. Metcalfe’s Law is essentially the concept of how you can calculate the real value of a network. And that is exactly what blockchains are. They are networks of computers, developers, users.
Metcalfe’s Law states that the value of a telecommunications network is proportional to the square of the number of users connected to the system (n2). The more users, the more people, the more value.
Cardano has a knack for adding users and people to its network in ways that other blockchains should definitely seek, and something that I think they can do quite uniquely. I think it depends on Charles [Hoskinson] and its unique charisma. “
However, Wainman expects projects to begin on Ethereum due to the current user network and the ability to raise funds associated with it.
“People will start with ERC-20, raise a lot of money, and then go to Cardano. And I believe the projects that are able to capture some impressive user metrics early on on Cardano will have the pancake swap effect. They’ll have the impact other projects had when they got into these new blockchains hard and early. ”
ADA is trading at $ 1.61 at the time of writing and is down 8.6% in the past 24 hours, although it’s up nearly 19% from the week according to CoinGecko.
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