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It’s currently trading for $1, and many are calling it the Ethereum killer
With $338 million in sales in 2020, and $24.9 billion in 2021 (a 73x difference), there’s no denying the NFT’s (Non-Fungible Tokens) market is on fire. And many analysts predict things are just heating up, with Nasdaq.com’s Luke Lango speculating “the NFT Market Could Really Grow by 1,000x.”
And it’s not slowing down. According to The Block Research, NFT trade volume jumped almost 3x this past month of January to $6.86 billion — up from $2.67 billion in December. With this surge in interest and the NFT market at an all time high, investors are looking for ways to invest.
One option with a lot of potential is the tiny altcoin, Cardano (CRYPTO: ADA). Dubbed the “Ethereum killer” by many, it’s focus is on transaction speed and low fees — the very problems currently plaguing projects on the Ethereum blockchain.
Cryptocurrencies with blockchain technology to host, mint, and handle transaction speed are key to the NFT market’s growth. And with more than 100,000 NFTs Cardano hosted on Cardano-based marketplaces, and a talented team of software developers working tirelessly on the project, Cardano looks promising.
Bondly COO Robert Tran agrees and preaches about the benefits of Cardano. His biggest concern is that Ethereum’s current energy consumption is unsustainable. He was recently quoted saying:
“One transaction on Ethereum literally uses as much power as the conventional hospital uses in a day and a half. It’s simply just not sustainable.”
He goes on to say that interoperability is key to sustainable growth.
“Environmental concerns and the speed of transactions we feel will be key drivers in onboarding major consumer brands in the future. The other one is you know our view…
