Experts Trust in Cardano (ADA), Ethereum (ETH), and Bitcoin (BTC), and Do Not Trust in Shiba Inu (SHIB)

Experts Trust in Cardano (ADA), Ethereum (ETH), and Bitcoin (BTC), and Do Not Trust in Shiba Inu (SHIB)

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The market is trying to recover after a dramatic crash. The most optimistic are the functional blockchains’ coins.

Popular trader and analyst Michaël Van de Poppe admits that he is following the Cardano correction (ADA) with interest. From a local high of $2.38, the ADA dropped by almost 25%. The expert notes:

– That makes me interested. We could be seeing a correction to $1.50 area, but then I think the correction is over.

Cardano (ADA) became a direct competitor to Ethereum (ETH) after the Alonzo upgrade was launched in September, which added the ability to run smart contracts and develop apps to the platform.

Bloomberg analyst Mike McGlone notes that investors are leaving speculative digital assets and shifting to functional ones. Therefore, even if meme coins grow along with the market now, they will drop soon. The expert considers not only Dogecoin (DOGE), but also Shiba Inu (SHIB) to be speculative assets. McGlone notes:

– We say the sooner the better for the speculation machine coins to experience some purging, so as to move on with the adoption process of crypto assets in investment portfolios.

Not all players consider SHIB to be a speculative asset. There is a solid team that is building a functional network Shiba Inu based on Ethereum. But it is true that Shiba Inu couldn’t compete with the leading altcoin, unlike the coins launched on their own blockchains.

The leading altcoin ETH itself could rise by 2250% to $100K. This incredible forecast was announced by Frank Holmes, CEO of the American investment company Global Investors. The company has over $4.6 billion in assets under management (AUM). The expert cites Metcalfe’s law, which describes the network effect. The law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system. Until now, none of the analysts have applied Metcalfe’s Law to cryptocurrencies. Holmes believes that the network effect in the crypto market acts after the ETFs are launched. He states:

– And now we have the ETF [exchange-traded fund] which allows the general public, even though it’s a derivative of a derivative, you can still buy a fraction. And all those allow greater adoption globally.

The expert also believes that the network effect will act in the next 10 years and will push the price of bitcoin to one million dollars.