Developer Behind Surging Cardano Token Talks Crypto, Blockchain

Fibo Quantum

A sevenfold gain this year has turned Cardano’s ADA token into the fifth-biggest cryptocurrency by market value, stoking a debate over the merits of a rally that has trounced blockchain bellwethers like Bitcoin and Ether.

Among skeptics questioning Cardano’s utility are Galaxy Digital LP’s Michael Novogratz and Castle Island Management LLC founding partner Nic Carter. Supporters point to the network’s relatively lower energy usage and its projects in areas like identity management and governance, and its ability to capitalize on the growth of decentralized finance or DeFi. Alexandra Clark, sales trader at U.K.-based digital asset broker GlobalBlock, says it promises “a whole new economy.”

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