- Last week, there was a round of excitement throughout the Cardano community as it became the sixth biggest crypto assets by market capitalisation.
- Ryan Seliks believes that investors could buy and stake more of the alternative cryptocurrency.
Last week, there was a round of excitement throughout the Cardano community as it became the sixth biggest crypto assets by market capitalisation. Following this, the co-founder and chief executive officer of Messari, Ryan Seliks believes that investors could buy and stake more of the alternative cryptocurrency.
Writing in his newsletter, the CEO said that lower staking rates for the asset could result in a higher award payout for investors who are curious as to whether they are late to the party.
On top of this, he further went on to say that one of the biggest factors in Cardano surging in price is the upcoming hard fork in the ecosystem, Shelley.
He further said:
“The potential discrepancy between staked and un-staked ADA however, could bode well for bulls even after Shelley goes live. While the initial staking percentage won't be known until after launch, Cardano's incentivized testnet saw participation from ~40% of the reported supply. If this carries over to mainnet, Cardano's staking rates will be significantly lower than other large-cap networks like Tezos (80%) and Cosmos (71%).”
The CEO added that this means there is a significant amount of room for the cryptocurrency to grow as more investors look in the direction of these lower staking rates in order to buy and stake and exchanges.