Cardano News Today – Cardano ADA Needs Time to do Better 

  • Cardano will bring a fresh perspective to crypto
  • Weiss Ratings requests that Cardano is given
  • Cardano’s plans to launch a stablecoin supported

Cardano news today – Cardano (ADA) is currently the number 11 largest digital currency by market capitalization according to CoinMarketCap. The digital asset has been touted to bring a fresh perspective to crypto. Although, the proponents of this ideology believe that Cardano will need some time to achieve this. The entity behind this proposition is the crypto analytics platform, Weiss Ratings. The Cardano protocol seems to be favored by Weiss Ratings, the agency that handles financial analytics in the crypt-sphere.

Weiss Ratings: Cardano to Bring Fresh Perspective to Crypto’

Many times in the past, Weiss Ratings has selected Cardano and called it a superior offering to some of the other Blockchain networks like EOS. There were a few times last year when the agency downgraded EOS tech score due to a lack of decentralization on the chain. After which Weiss Ratings predicted an excellent future for Cardano. Weiss Ratings is at it again after the firm tweeted praise about Cardano. The firm said Cardano is likely going to bring a new perspective to the crypto space. The agency expects Cardano to contribute hugely to the DeFi sphere. But these innovations need a vast amount of research, which in-return requires time.

What About Cardano’s Plans to Create a Stablecoin?

Recall that recently, we reported that Charles Hoskinson, the found of Cardano’s parent company, IOHK, spoke about the possibility of Cardano launching a stablecoin that will be based on the DAI-pattern and will be powered by the ADA. At the time of the report, Weiss Ratings back commented that the existing structure of DAI will be more beneficial when compared to that of the USDC and Tether’s USDT. Weiss Ratings went back to the above topic regarding the Cardano backed stablecoin in a recent tweet. Here is how the crypto analytics firm puts it:

“A token similar to the DAI token on the Cardano Blockchain would bring the Cardano network tremendous value and boost the adoption of the ADA token. It would produce an entire DeFi ecosystem that will rely primarily on it as the source of collateral. The introduction of DeFi brought more utility to ETH, it can do something similar for ADA.”

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.120

According to data provided by CoinMarketCap, the price of Cardano was trading at $0.066099 -as of when this report was published. It would seem the market is experiencing some form of turmoil this morning after Cardano lost 4.67% in the last 24 hours. The same applies to the rest of the market.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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