Decemeber 4th we wrote about Cardano (ADA) and we saw lot of money pumping happening around this coin. We thought investors are investing hard earn money behind project which just announced their coin in October 2017, so ADA is 2 & 1/2 month old. Now, past few days, Cardano shoot up to another high and keep climbing closer to Litecoin.
We do not have anything against of Cardano or their project. But we are just not sure how can a ADA have such high valuation, i.e. $13 Billion at the time of this article. We understand the project philosophy and their novel idea. We also respect their team and have seen their few video’s and approach towards solving scalability issues which are aroundand other Crypto Currencies.
But Cardano valuation is out of control. We do not understand why investors are investing money into less than 3 month coin, and creating very speculative environment. Just because they are good team but no product to show and only good ideas doesn’t mean that ADA can be more than $13 Billion. This never happened in Silicon Valley or Startup world. This is happening, because people are pumping money into coin without understanding or they are just sheep and since everyone is buying it they are putting their hard earned money into Cardano.
Vision Cardano have is very great and they will need at least 5 year or so to develop that in to product; unless they have some magic under their sleeve. So if anyone around, who can help us understand ADA valuation or their spot in Top-10 Crypto currencies are welcome.