A popular crypto analyst believes Cardano (ADA) and Algorand (ALGO) will be two blockchains to “watch out for” when the next bull market kicks off.
Guy, the pseudonymous Coin Bureau host, says in a new discussion with fellow crypto analyst Benjamin Cowen that both Ethereum (ETH) rivals have great teams behind them.
“In terms of long-term trends, I think investors, especially institutional investors, where Cardano is clearly lacking in that respect, but after the return of interest in cryptocurrencies, any investor is going to be Ethereum or Cardano. I think you’ll look at things like, “Well, these guys were able to run these big upgrades, and they went flawlessly.”
And I think it’s a testament to the talent of the people working on those projects and will be a big part of people’s due diligence in the future. , I think it’s really positive. ”
ADA is trading at $0.43 at the time of writing. The eighth-largest crypto asset by market capitalization is down 0.72% over the past 24 hours.
Guy also said Algorand’s connection with the Massachusetts Institute of Technology (MIT) could open up possibilities for the project. Algorand’s founder, Silvio Micali, is a professor of computer science and cryptography at the university.
“The team at Algorand is not only very capable, but they also seem to be very well connected, because MIT, as I understand it, has this next digital dollar, this CBDC. because it appears to be working with the Federal Reserve on [central bank digital currency]I think something like that opens up a lot of potential questions about Algorand, as there has been a lot of speculation that Algorand could eventually become the blockchain for CBDC in the US. “
ALGO is trading at $0.3573 at the time of writing, a negative change of 1% over the last 24 hours.
News broke in February that researchers from the US Federal Reserve and MIT were collaborating on a central bank digital currency (CBDC) initiative called Project Hamilton.
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