- Ryan Selkis, the CEO of Messari, said that the top ten digital assets will get refurbished in 2021.
- According to him, the third-largest to tenth-largest cryptocurrencies will be replaced by other assets.
- Selkis expects Cardano’s ADA to become the fifth-largest cryptocurrency soon.
- The bears are in full control of the ADA/USD daily price chart.
Ryan Selkis, the CEO of Messari, said that the top ten cryptocurrencies will get refurbished in 2021 as the industry is currently populated with “real garbage.” He expects the third-largest to tenth-largest digital assets - Tether’s USDT, XRP and others - to all be replaced by other assets. Selkis also believes ADA will become the fifth-largest cryptocurrency soon.
In an earlier interview, the founder of Cardano, Charles Hoskinson, had said that Cardano’s growth depends on it beating out other blockchains. He added that Ethereum is not yet where it needs to be to decisively become the leading smart contract blockchain. Cardano and other networks can begin to nip away at the incumbent, as per Hoskinson. He said this about the upcoming Shelly upgrade, which is expected to increase Cardano’s usability exponentially.
Selkis is not the only one who has raised concerns regarding the top cryptocurrencies. As per an earlier FXStreet report, Simon Dedic, the co-founder of crypto research firm Blockfyre, recently said that five of the top ten digital assets do not deserve their high-profile ranks.
ADA/USD daily chart
ADA/USD is currently trading for $0.082 as the bears have stayed in control for three straight days. The price has found support on the SMA 20 curve, while the Bollinger Band has narrowed considerably, which indicates decreasing price volatility. The MACD shows sustained bearish momentum, while the Elliott Oscillator has had a staggering 18 consecutive red sessions.
ADA/USD has resistance levels at $0.085 and $0.089. On the downside, support lies at $0.0812 (SMA 20), $0.079 and $0.075.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
According to him, the third-largest to tenth-largest cryptocurrencies will be […]