Cardano is a cryptocurrency network and open source project that aims to run a public blockchain platform for smart contracts. ADA is the token of the Cardano project.
The survey found that 31.8% of the investors surveyed said that they are “most optimistic” about Cardano, compared to 22.2% who are optimistic about Bitcoin. The third and fourth places are Ethereum and Polkadot, with 12.2% and 6.3% respectively.
Last month, Cardano hit an all-time high of $1.48, becoming the third largest cryptocurrency by market value in one fell swoop.
Voyager Digital CEO Steve Ehrlich said: “From an investment and transaction perspective, this clearly shows the passion of our user base for cryptocurrency. Of course, everyone is talking about Bitcoin these days, but seeing Cardano It’s really a big surprise for us to be ahead.”
In Ehrlich’s view, the survey results also show that the cryptocurrency field has become a truly diversified ecosystem, with more and more digital assets for investors to choose from.
The survey also shows that 80% of retail investors still plan to buy more bitcoins in March.
Although Bitcoin fell by 26% in February, retail investors are still optimistic about the asset’s prospects. This survey of 1,385 respondents in the United States found that most investors expect the price of Bitcoin to reach between $51,000 and $60,000 by the end of March, and 80% of the participants plan to buy more Bitcoin this month .
Respondents are generally optimistic about the prospects of cryptocurrency investment; in the “bearish/bullish scale”, the investor confidence index is 8 points (out of 10 points), of which 1 means that in the next 6 and 12 months Medium, extremely bearish, 10 means extremely bullish. Only one in five people agree that Bitcoin is currently in a “bubble zone.”
They do not completely rule out the possibility of a bear market. If the bear market becomes a reality, most investors expect Bitcoin prices to plummet by 20%-40%.
Despite this, 60% of respondents believe that Bitcoin and other digital assets represent the largest store of value, surpassing precious metals such as gold (8.6%), stocks (6.7%) and top government bonds (1.7%).
At the same time, Bitcoin whales and institutions have taken full advantage of the recent decline in the price of Bitcoin to buy Bitcoin on a large scale.
On-chain analysis service Material pointed out that the world’s largest cryptocurrency exchange, Binance, with purchase orders of $100,000 or more, is hitting a record high.
Compared with orders worth less than $100,000, larger purchases are more frequent than ever.
In 2021, the scale of smaller allocations has dropped significantly, that is, institutions are absorbing liquidity from exchanges that have surfaced during the recent bull market.
On Twitter, Material Indicators commented on a chart: “Orders from $100,000 to $1 million will now also create a new ATH.”
“Meaning, they are buying on dips.”
As more and more institutions flood into Bitcoin, Bitcoin may become the standard for investors, keeping pace with traditional investments.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.