Why Do People Even Care?
Cardano and Dogecoin are totally different projects where Cardano is more technology backed with Proof of Stake compared to Doge which is influenced by Social media and used for purchases.
This week I am sure many of you have seen the news regarding Mark Cuban saying Doge has more use cases than Cardano. This is laughable and possibly the FUD being generated by such a statement boils down to the fact that no Venture Capitalist funding was used in creating Cardano. Investors like to get in the ground floor of projects as more money can obviously be made and this could be the reason why Cardano over the last few months has been slagged off.
Cuban would favor Doge as his NBA team the Dallas Mavericks has Dogecoin as a payment option when buying merchandise. Cardano has been slow getting their project off the ground as the tech being developed takes time. DJED the stablecoin is now waiting on the Vasil hard fork which was set to take place in June and now two months later are still waiting for a confirmed date. This should change things drastically as the stablecoin is required to get the Cardano DeFi eco system working.
I do think these individuals like Cuban and Musk should keep their mouths shut as they are just playing with the market. We saw the effect last year with Elon's Tweets and how it pumped Doge for no reason whatsoever. Meme coins don't need a reason to pump as the prices are simply manipulated considering the investors are made up of retail investors who have little clue about Crypto in general. If you understood Crypto you may buy Doge to make a quick profit but definitely not something you would hold long term.
mark Cuban also came out saying that buying land in the metaverse is the "dumbest shit ever". Who knows as the metaverse is new and no one knows what is going to happen, but many think it will explode. Making statements like this is plainly irresponsible and this is someone who fell for a rug pull last year. Whatever they say is irrelevant as the knowledge they have regarding Crypto is dangerous. Just because you have money doesn't make you smart and this is another case of this.
Funny as even though I am not invested in Cardano it has been trending on twitter for the last week and just goes to show you than FUD can actually be beneficial. Any news is good news as it highlights the project in question making people aware of what is happening.
Posted Using LeoFinance Beta