Cardano (ADA) vs. Binance Coin (BNB): Functionality Versus PR

Cardano (ADA) vs. Binance Coin (BNB): Functionality Versus PR

Source: Cryptoonliner

After the crash of cryptocurrency quotes, Binance BNB is recovering. However, BNB is closely followed by the Cardano cryptocurrency (ADA). The top three are subject to change.

In a falling market, leaders are replaced not due to growth, but due to a smaller fall. Technical analysis says those coins that previously grew faster are falling faster too.

Binance Coin (BNB) has been one of the market drivers over the past months. From January to May 10, BNB grew 18 times from $38 to $676 and entered the TOP-3 cryptocurrencies for capitalization.

BNB’s growth was driven mostly by the activity of Binance exchange and its CEO Changpeng Zhao (CZ). CZ created a favorable news background and hype around BNB. But over the last “bloody week” BNB fell by almost 50% and lost its third place to ADA for a short time. Now the Binance cryptocurrency is growing, but it is highly likely that ADA will outperform BNB soon.

Since the beginning of the year, ADA has grown 13.5 times from $0.178 to $2.4182, then dropped simultaneously with the market, but it remains on a growing trajectory. Charles Hoskinson, the founder of IOHK (Input Output Hong Kong), which creates and develops Cardano (ADA), became a billionaire.

In the last AMA (ask-me-anything – session of questions and answers) Hoskinson said that he does not see a problem in the high volatility of the market. In his opinion, volatility reflects the dynamics of innovations. Hoskinson compares the situation in cryptocurrencies with the time of the Internet early growing. It will take time for leading assets to become more stable. The expert notes:

– Crypto’s very volatile. It’s very unstable, and as a consequence understand that it’s a frontier market, and the point here is we’re reconstructing society, and we all know that by doing that, there are trillions if not tens of trillions of dollars of collective value in the activity. But where does that value go?

Markets still couldn’t determine the real winners and losers. Positive and negative moods replace each other. But in the end, we will come to a balance – says the founder of Cardano.

ADA is now in fourth place in terms of capitalization (excluding the stablecoin USDT) and demonstrates less volatility than other market leaders. Popular trader Austin Arnold says Cardano (ADA) is the most promising currency in his portfolio.

The expert expects the coin to skyrocket due to the testing of the ERC20 converter. Cardano offers this efficient solution for the multi-chains building, that is, for the interaction of different blockchains. There are already several blockchain projects that are ready to become part of the Cardano ecosystem, for example, the Chain Games gaming platform.

Given that Ethereum (ETH) also has good growth prospects, the rise of ADA is almost inevitable.