“Users Dislike Cardano And XRP”: Morgan Creek CEO

The ecosystem builder for one of the first decentralized exchanges on the Cardano blockchain, Adaswap, was claimed to have opened on the mainnet earlier this week, as reported by TWJ. Rumor has it that the testnet version of the platform was unveiled in June. AdaSwap was one of the first programs created on top of the Milkomedia Network, a cutting-edge protocol that grants features to blockchains like Cardano EVM.

In addition to this upside of the community, the price of the token surpassing that of ETH and BTC was yet another news to celebrate to.

The costs of crypto assets have once again risen at the start of this week. After losing 3% in just one day, the market value of all assets was $820 billion on Monday. Top assets fell between 2% to 4% during that time, including Bitcoin, Ethereum, and Cardano.

The asset’s users have been using it more regularly despite the downturn. At the time of writing, it surpassed popular networks like Bitcoin, Ethereum, and others as the blockchain with the highest level of activity. Almost $6.4 billion worth of trade was cleared on Cardano the day before. In contrast, there were $4.75 billion and $1.84 billion worth of transactions for Bitcoin and Ethereum, respectively.

Mark Yusko’s Contradictory Thought About Cardano

Mark Yusko, CEO of Morgan Creek Capital Management, claimed that Cardano (ADA) and XRP are comparable since consumers and developers don’t seem to adore them despite their popularity in a recent interview with the YouTube channel Altcoin Daily.

He further added,

“That one [Cardano] reminds me of XRP. The people love it. But the developers and the users don’t seem to love it. And that’s the part I don’t really get.”   

Yusko asserts that he would not, however, go so far as to compare XRP and ADA to meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). According to the investor, the well-known canine coins “must go to zero.”

Yusko claimed that XRP was excluded from Morgan Creek’s cryptocurrency index fund because it was “too closely held.” He referred to the fact that Ripple, a centralized firm, controls a sizable chunk of the current tokens. This occurred just a few months before the U.S. Securities and Exchange Commission filed a lawsuit against Ripple for unregistered sales of the XRP coin.

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