Crypto analysts often make announcements about the hottest projects in the digital asset market. Crypto analyst Guy just made a big one for the long haul.
ADA and ALGO have a lot of potential!
In interview that he granted to Benjamin Cowen, the famous crypto analyst Guy let it be known that Cardano and Algorand (ALGO) are two blockchains that have great potential and that will have to be watched during the next bull market cycle. He bases his reflection on the solidity of the projects and the fact that the two projects have “big teams”.
“As far as the long-term trend goes, I think investors, especially institutional investors, will look at it and say, Well, these guys were able to execute big updates, and they got went smoothly (…) Even if the prices have not really changed so far, I think this is something really positive for them and for Cardano in particular”did he declare.
Guy also notes that Algorand’s ties to the Massachusetts Institute of Technology (MIT) could open up possibilities for the project. As a reminder, the founder of Algorand, Silvio Micali, is a professor of computer science and cryptography at this university.
“The Algorand team is not only very knowledgeable, but also seems to have a very good relationship, because MIT, as I understand it, is supposed to be collaborating with the Federal Reserve on this future digital dollar, the CBDC [monnaie numérique de la banque centrale]. I think this opens up a lot of potential opportunities for Algorand, because there has been a lot of speculation that Algorand could be the blockchain that the US CBDC could eventually run on”he continued.
ADA is currently trading at $0.43. The 8th ranked crypto asset by market capitalization is down 0.72% over the past 24 hours. As for the ALGO, it is currently trading at 0.3573, a negative change of 1% in the last 24 hours.
In February, the US Federal Reserve and researchers at MIT announced that they were collaborating on a central bank digital currency (CBDC) initiative called Project Hamilton. This announcement could benefit Algorand (ALGO), according to analyst Guy. He believes that Algrorand will be one of the projects to watch in the future. This, in the same way as Cardano, whose solidity he appreciates.
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