Cardanos’ Potential to Attract Outside Investors Relies on One Factor, Says Crypto Giant Grayscale

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Crypto giant Grayscale says the future of Cardano could depend on a very important factor.

In a recently released report, the digital asset manager says Cardano currently processes more than 115,000 transactions per day, an increase of about 13 times since the start of 2021. The network also now has around 2.8 million customers. users, an increase of 7.3 times since the beginning of the year.

Grayscale says that sustaining Cardano’s network growth could be key to bringing existing and new investors to Cardano’s native ADA asset in the short to medium term.

“If dApps (decentralized applications) and other new use cases attract new users, increase network utilization, and improve Cardanos metrics, these factors may drive a fundamental value rotation in ADA by existing investors.” and external. “

Grayscale’s analysis follows Cardano’s rollout of smart contracts to its mainnet last month, allowing Ethereum’s competitor to launch dApps on its platform.

Looking at the big picture, Grayscale says Cardano’s ability to develop a “compelling cloud super application platform and dApp ecosystem for users” will determine whether the protocol will experience lasting success.

“Several Web 2.0 cloud providers including AWS (Amazon Web Services), Google Cloud, Microsoft Azure, Alibaba Cloud and Tencent Cloud have enjoyed significant success to varying degrees today. The crypto cloud market can follow a similar path and Cardano may not need to be the only winner to be successful. If Cardano can achieve its goals, its functionality, along with the large community of network users, can enable the ecosystem to capture a significant share in the rapidly growing crypto cloud platform market.

ADA is trading at $ 2.19 at the time of writing, down more than 26% in the past 30 days, according to CoinGecko.

You can read the full report here.

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