According to analyst Benjamin Cowen, Ethereum and Cardano will be among the top cryptocurrencies in 2022.
Smart contract blockchains are no longer a secret. In an interview, Benjamin Cowen clarifies: According to the analyst, Ethereum (ETH) and Cardano (ADA) are among the top cryptocurrencies in 2022.
Ethereum is the top asset
In an interview with Altcoin Daily, the well-known crypto analyst Benjamin Cowen reveals his strategy. His primary focus is on Layer 1 smart contract platforms. The top dog Ethereum plays the biggest role for him, but he also considers Bitcoin still strong.
Altcoin is said to beat or resonate with the Ethereum course. Because of the problems that Ethereum's Layer 1 blockchain's problems, Polygon (MATIC) as a Layer 2 Chain is also an exciting project.
MATIC investors were able to look forward to enormous growth as early as 2021. The Layer 2 solution for Ethereum put in an incredible bull run. At the beginning of the year, the price was below two cents and hit an all-time high of $ 2.92 on December 27. MATIC is currently trading at $ 2.55.
Cardano is also considered to be the top cryptocurrency in 2022
Nonetheless, other smart contract blockchains will also be important in the coming year. Cowen thinks projects like Polkadot or Avalanche are up-and-coming.
The Cardano course has not been convincing since September. ADA is currently trading at $ 1.36. In view of the latest developments Cardano has made since September, the low price is surprising. On September 2, the price was still at USD 3.10.
Cowen is still sticking to Cardano and sees ADA as one of the top cryptocurrencies in 2022. Its development is crucial for its future. Since Christmas Eve, Cardano founder Charles Hoskinson has made repeated headlines by announcing huge projects.
Cardano as a bond system in Africa
One such announcement describes a system whereby Cardano will serve as a full replacement for banks in Africa. So also through bonds. The infrastructure of financial service providers is often in short supply there and therefore offers Cardano a lot of leeway.
According to his own statement, Hoskinson only needs to find a way to put together the last necessary building blocks. Such a system is to be established as early as 2022. He describes it as follows:
A real person in Kenya or anywhere with a blockchain identity and credit rating pushes a button. She’s already getting the money. Later she pays it back, and it goes to the other side.
Blockchain technology could establish itself rapidly, especially because of the average young age of Africa. Hoskinson also expressed the hope of overcoming discrepancies between the first and third worlds.
Cardano is gaining popularity
As the Cardano Foundation made clear in a Twitter post, Cardano has recently grown significantly despite the poor course price. This does not only apply to the development of the blockchain itself.
The Cardano community has also exploded. Cardano now reaches more than 3.2 million people. In 2021, the audience grew by 468 percent.