$LMWR is facing selling pressure, inching towards the next 0.278$ support if bearish trends persist. A reversal is expected, indicating its capacity to potentially lead the next bull rally alongside $BTC in the next cycle. Our data indicates 750% gains in the last rally.
Crypto Analyst Declares $ADA ‘Dead to Institutions’, Gets Schooled By Cardano Community
On 3 July 2024, Ben Armstrong, also known as BitBoy Crypto, made a bold statement on the social media platform X (formerly known as Twitter). Armstrong declared that Polkadot (DOT) and Cardano (ADA) are no longer viable investments for institutions, suggesting that this perception would ultimately undermine their legitimacy. He clarified that despite this, these cryptocurrencies might still experience price increases and offer returns during the current bull market, but these returns would be relatively modest.
Armstrong’s Statement
Armstrong expressed his opinion that institutional investors have lost interest in Polkadot and Cardano, which he believes will lead to their decline as legitimate investments.
However, he acknowledged that both cryptocurrencies could still generate profits during the current market cycle, albeit with so-so returns:
“I want to be clear. Recently, I said $DOT & $ADA are both dead to institutions. Which ultimately will lead to their death as legitimate investments. This DOES NOT mean they won’t pump and offer returns to investors in this bull run. They will. Returns will just be mid.“
The Crypto Community’s Response
Armstrong’s statement quickly drew sharp rebuttals from prominent members of the Cardano community, who took to X to defend their projects.
Here is a summary of their responses:
One community member found it ironic that Armstrong declared Polkadot and Cardano as “dead” despite their robust governance mechanisms, which are designed for long-term sustainability and flexibility.
Another respondent highlighted Cardano’s extensive on-chain governance system, backed by a substantial fund and one of the most active communities in the crypto space. They argued that such engagement contradicts the idea that these projects are no longer viable.
A different user bluntly dismissed Armstrong’s statement as unfounded and nonsensical.
Another emphasized that Cardano’s primary focus is on user adoption rather than venture capital funds. They noted that investments often follow the network effect, meaning a strong community and solid technology will attract real users and, eventually, institutional investments.
An additional response argued that cryptocurrency’s primary purpose is to serve people, not institutions. They criticized the mentality that a project’s value is solely determined by rising prices.
One user expressed disbelief at Armstrong’s claims, suggesting that Armstrong’s perspective might be influenced by personal biases or misunderstandings.
Another community member questioned the technical basis of Armstrong’s opinion, emphasizing Cardano’s strong track record of uptime, self-governance, and a dedicated community. They argued that these factors make Cardano a viable and sustainable blockchain.
Lastly, one user suggested that Armstrong’s negative comments might stem from personal grievances, implying that his opinions are not objective.
Analysis
Armstrong’s comments sparked a vigorous defense from the Cardano community, highlighting several key points:
Governance Mechanisms: Cardano and Polkadot are praised for their strong governance frameworks, which are seen as essential for long-term sustainability and flexibility. Community members argue that these mechanisms ensure robust participation and adaptability, countering Armstrong’s claim that they are “dead.”
Community Engagement: Cardano’s supporters emphasize the project’s strong and active community, which is crucial for the network’s success. They argue that engaged communities can drive adoption and innovation, making the project attractive to both individual users and institutional investors.
Technological Strengths: Cardano’s proponents highlight its technological capabilities, such as its energy efficiency, self-sovereignty, and proven uptime. These attributes, they argue, are significant draws for both users and institutions, contrary to Armstrong’s assertions.
Institutional Interest: While Armstrong claimed that DOT and ADA are “dead to institutions,” community members pointed out that institutional interest is not the sole determinant of a project’s success. They argue that a strong network effect and real user adoption are equally, if not more, important.
It’s kind of funny to point out the only coins with a governance mechanism (=long term participation, flexibility and sustainability baked in) as “dead”It’s not because we say so that ADA and DOT will do so great, it’s just that they’ve been designed to outlast everything else
$ZENT is struggling in the current trading environment, with the 0.016$ support level gaining importance amidst prevailing bearish trends. A reversal is expected, positioning Zentry to perform well in the forthcoming bull rally. Profits have grown by 90% in the past.
CRYPTO MARKET VOLATILITY: A SEASONED INVESTOR'S ADVICE‼️‼️‼️‼️‼️‼️‼️⚠️
I see a lot of fear, which is normal. It's not pleasant to see your portfolio balance drop by 30% in 3 months (for spot traders) or get liquidated in a few hours (for futures traders). But, having started investing in crypto in 2016, I've learned a few valuable lessons:
1. HOLD ON TIGHT: When the market goes down, avoid touching your portfolio. Hold on to it, or you'll regret it later when the market bounces back. Remember, in spot trading, you only realize losses when you sell at a loss.
2. DON'T FOLLOW THE CROWD: Don't take "expert" opinions too seriously, and don't let them influence your decisions. No one can predict market ups and downs; they can only speculate. One thing is certain, though - the market won't go down forever!
In conclusion, it's up to you to hold your portfolio. Be patient, control your emotions. Not everyone will win, but strong-minded individuals have a higher chance of success. And remember, take profits when the market is up - that money will come in handy during times like this!