Cardano secures first place in the ranking of cryptocurrency brands, Bitcoin and Polkadot follow
According to a report by Brand Intimacy Agency, Cardano has become the leading cryptocurrency brand, surpassing other prominent players in the sector. The study conducted by MBLM, a well-known brand agency, places Cardano at the top, closely followed by Bitcoin and Polkadot, which occupy the second and third positions respectively. Ethereum completes the top four spots in this exhaustive analysis.
MBLM's brand analysis methodology delves into various facets of brand relationships, emphasizing the repeated interactions and emotional connections between consumers and the brand. The process assigns each brand a Brand Intimacy Quotient score, ranging from 1 to 100, based on the depth and nature of the brand relationship.
With a notable Quotient score of 52.6, Cardano leads the pack, showing its strong resonance with consumers.
Bitcoin occupies the second position with a score of 51.9, highlighting its ritual appeal among users. Similarly, Polkadot is in third place with a score of 43.5, demonstrating its growing influence in the cryptocurrency landscape. While Ethereum, with a quotient score of 42.8, remains in fourth place, underscoring its enduring relevance in the market. As Crypto News Flash reported, Cardano also surpassed Ethereum in developer activity.
This data offers valuable insights into the evolving dynamics of brand relationships in the cryptocurrency sector, while also shedding light on consumer preferences and sentiments toward different cryptocurrency brands.
Cardano progress over the years
MBLM identifies six key markers found in brands with strong relationships with users:
Compliance: Goes beyond expectations, offering superior service, quality and efficiency.
Identity: Reflects aspirational images or valued beliefs that resonate deeply.
Improvement: It integrates into everyday life, simplifying tasks.
Ritual: it is incorporated into daily routines.
Nostalgia: Evokes memories and associations.
Indulgence: Satisfies desires, offering luxury or personal comfort.
Likewise, brand relationships go through three stages:
Sharing: Initial commitment in which knowledge is exchanged and attraction is created through reciprocity and security.
Bonding: A bond is created that leads to deeper commitment and trust.
Fusion: Complete integration in which the identities of the person and the brand merge and express each other.
Cardano's dominant archetype has shifted from contentment in 2022 to indulgence in 2024, emphasizing pampering and gratification in user interactions. This change also indicates that users derive considerable pleasure and satisfaction from engaging with Cardano, which is attributed to the reliability of the network, including staking, as well as the expansion of the DeFi ecosystem.
Two years ago, the Cardano community waited impatiently, not knowing if the project would deliver on its promises. Today, users are actively using numerous DeFi applications on Cardano, while experiencing its quality first-hand.
Cardano also excels in all exchange, linking and merging phases, with a notable 9% of users in the merge phase. Therefore, it has the highest level of Brand Intimacy, surpassing Bitcoin's 7%. This also suggests that Cardano users possess a deep and interconnected relationship with the brand, viewing themselves and the brand as intertwined entities.
According to the Crypto News Flash report, Cardano is working on key developments in 2024, such as the integration of the Firefly wallet.
