According to “Ada Whale”, a cardano The community-focused Twitter account, Cardano, is one of the few coins that comes close to the distribution and inflation of bitcoin. He also believes that ADA may become a very rare asset in the future, as it may follow the same path as BTC.
2/ Cardano is one of the few coins that approaches the distribution and inflation of bitcoin
No VC, relatively equal distribution and predictable inflation. Today, people can buy cheaply until it becomes increasingly scarce.
No ponzinomics, but the good old backloaded disinflationary monetary policy pic.twitter.com/ATzymkcbgq— Ada the Whale (@cardano_whale) 28 May 2022
“ADA whales” believe that bitcoin got its mobility right because of its fair distribution, its price low enough for many to buy it, and its fixed supply. Satoshi Nakamoto, the mysterious bitcoin creator, believes scarcity could create value; Therefore, the maximum supply of bitcoin was limited to 21 million coins. The 19 millionth bitcoin was mined in April, leaving only two million BTC mined in nearly 100 years.
Cardano, like Bitcoin but unlike Ethereum, has a limited supply limit, with only 45 billion ADA to be built upon the existence of the coin.
Currently, there are 33.82 billion ADAs in circulation, which is 75% of the maximum supply, and 34.27 billion ADAs have been created so far according to CoinMarketCap data.
However, due to continued unfavorable market conditions, “ADA whales” believe that now may not be the time to load up on ADA. “It’s a bear market, so be prepared for possibly months of double-digit negative returns if you do,” he advises. “Just trying to put it in a long-term perspective.”
Cardano’s Closed Vasil Testnet Deployed Ahead of June Hard Fork
According to the latest weekly report from Cardano’s parent company IOHK, the closed Vasil testnet has already been launched to assess its functionality with select dApps and users. The Cardano team continues to work on consensus-specific enhancements in anticipation of the Vasil Hard Fork Combinator (HFC) event in June.
In addition, IOHK provided a chart with information on network development. Currently, 986 projects are being built on Cardano, up from 943 earlier. A total of 88 projects have been launched on Cardano recently, while the number of NFT projects has increased to 5,727. For the week, Github added a total of 3,028, while Cardano’s native token stood at 4.9 million.
Also, the number of Plutus scripts was 2,745. ADA is currently trading at $0.46, down 2.28%.