Being the first cryptocurrency to exist and the largest by market cap, Bitcoin has always dominated several aspects, but now altcoins such as Cardano are also gaining momentum. For many people, BTC remains the essential crypto asset that they know. Its adoption is more comprehensive than other digital assets.
Also, lots of payments with virtual currency would majorly specify the use of Bitcoin. However, the presence of altcoins in the crypto space creates more competition for the leading cryptocurrency.
A recent report which covered customers’ intimate attachment to brands placed other assets over Bitcoin in the top ranking. The analysis had a blockchain developer, Cardano, ranking 26 out of 600 global brands in the report.
With its position, Cardano takes the lead among other projects from the crypto industry in the global brand intimacy. The global brand intimacy analysis reflects on the emotional connections that brands impact on their consumer base and the general public. MBLM agency conducted the analysis using artificial intelligence (AI) and massive data.
With an adequate application of specific measures, the agency uncovered different users’ relationships and emotions with leading global brands. The analysis covered 19 industries and included some brands like Apple, Google, Tesla, eBay, Disney, and others.
While comparing last year’s report, the surveyors noted that Cardano is just a new project in the study. However, it turned out to be the top cryptocurrency and the highest performance among financial services brands.
According to the report, the crypto industry surfaced among the best top 10 in performance as Cardano took the lead. On its part, Bitcoin took the #30 position among the brands. On the other hand, other crypto assets like Uniswap barged the #261 position and Solana the #265 position.
Reactions To Cardano Performance
Reacting to the new achievement for the protocol, Cardano’s co-founder, Charles Hoskinson, appraised the project. He stated that the creation of Cardano was with a simple belief in equality and fairness for all. The network, therefore, bares these virtues in mind through its support of decentralization and merit.
Also, the co-founder added that Cardano doesn’t rely on a particular founder, culture, and nation for its functionalities. Hence, its ecosystem comprises inputs from over 100 nations that collectively support the growth of the network.
This remarkable feat from Cardano matches its moves for an upgrade. The blockchain developer is fine-tuning its plans for its upcoming Vasil hard fork. The upgrade is expected to cut down transaction sizes, reduce costs, and enhance overall network performance.
There have been several reactions to Cardano’s ranking that surpasses big brands such as eBay and Google on Twitter. A user praised Cardano for not being a topic for internet memes. Instead, the network is standing as a strong league meant for the gathering of the big boys.
it means #cardano is more than a twitter meme, it belongs in a league where the big boys are.
— $cryptojunk (@cryptojunk1) August 26, 2022
The report with the overall high-ranking positions of the crypto industry revealed that both Web 3 and decentralized technologies had received more adoption. In addition, another survey indicated that in the US, about 64% of parents advocate for teaching crypto-related content in schools.
Featured image from Pixabay, chart from TradingView.com