Cardano News! Outperforming Ethereum and Solana!? Crypto: What Is Special About Cardano!?
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- Cardano powers the transfer of 100s of cryptocurrencies in a single transaction, a feature absent in the Ethereum and the Solana network.
- As Cardano nears the Vasil hard fork and Ethereum approaches the merge, analysts have racked the two competitors against each other in features and scale.
- While Ethereum price hit its monthly high of $1,640, analysts are bullish on Cardano and predict a retest of $0.55.
As Cardano’s Vasil hard fork and Ethereum’s Merge is fast approaching, the crypto community pitted the two competitors against each other, comparing features and scale. Cardano successfully powers the transfer of 100s of different cryptocurrency assets in a single transaction, a feat that takes 100s of individual transactions on Ethereum or Solana. The development activity on Cardano has remained consistently high over the past two months.
Also read: Cardano Vasil hard fork is right on time, developer debunks possibility of delay
Cardano v. Ethereum: Features and scale
Lucid, a pseudonymous crypto analyst, compared Cardano to its competitors Ethereum and Solana and argued that:
On Cardano you can send multiple assets in a single transaction. That means on Cardano you can send 100 Assets to different addresses in one single transaction. This would take 100 separate Transactions on Ethereum or Solana and totally destroys any TPS argument.
Cardano, therefore, does in a single transaction what Ethereum or Solana networks would do in a 100. Transferring multiple assets is key to traders on the ADA network and the Cardano community, as assets can be moved around on the ADA network instead of placing trust in a third-party service provider.
This feature is critical for users looking to buy multiple NFTs and tokens, efficiently organizing them from the buy wallet to hardware wallets. If a user is intent on emptying a wallet, this feature could come in handy, making the Cardano network preferable to Ethereum.
Cardano took first place in development activity
Development activity on the Cardano network exceeded Ethereum and competitors Solana. Cardano, Polkadot, Kusama, Ethereum and MIOTA took the lead in development activity in July 2022. Santiment measures Github activity beyond the mere quantity of submissions.
Cardano development activity
Analysts believe Cardano price could retest $0.55 soon
Analysts at FXStreet evaluated the Cardano price trend and noted that the altcoin has bullish potential. ADA price looks ready to retest the $0.55 level in its ongoing uptrend. For more information and critical price targets, check the following video:
