A well-known cryptocurrency analyst says his interest in Cardano (ADA) is returning, but he has one reservation about the blockchain’s ecosystem.
Guy, the pseudonymous host of Coin Bureau, says in a new interview with Altcoin Daily that while he recently sold off his ADA holdings, it is a promising project that will likely survive the market turmoil.
“I enjoy Cardano. I have this strange relationship with Cardano. It’s as if one day I’ll be extremely bullish on it. And the next day, I started to doubt it… the Cardano community is one of the largest, most active, and most supportive, and [ADA founder Charles Hoskinson] is this really inspirational figure.
I recently sold some ADA to invest in [stablecoin], but I’m thinking about getting back into it. There’s some interesting stuff going on.”
Guy’s main concern with ADA is whether the blockchain is suitable for developers to build on.
“I don’t believe there has been a lot of collaboration between Cardano projects. And I keep hearing about how difficult it is to build in such an ecosystem.”
Guy believes that ADA will remain one of the long-term blockchain projects despite market turmoil.
“I think there are some really cool projects going on there, and the community seems to be strong enough to see it through tough times.”
Guy did not include ADA among his top five altcoins to invest in during a recession. His top picks included the decentralized blockchain network Cosmos (ATOM) and the proof-of-stake protocol Algorand (ALGO).
At the time of writing, ADA is trading at $0.258.
