Popular crypto trader Aaron Arnold is a Cardano (ADA) bull.
Arnold tells his 750,000 YouTube subscribers that he is optimistic about the Ethereum rival because he thinks it will ride on the wave of ETH’s success.
“I am a Cardano bull this cycle. I think there are plenty of reasons to be bullish on Cardano. Now the biggest reason I am bullish on Cardano this cycle is because I’m bullish on Ethereum this cycle…
In a world where Ethereum is this valued and this speculated on, I think Cardano is going to do well… Many different metrics now are trending up on Cardano.”
ADA, the seventh-ranked crypto asset by market cap, is trading at $1.65 at time of writing and is up nearly 24% in the past two weeks, though it is down nearly 8% in the past 24 hours, according to CoinGecko.
Arnold says he is also bullish on Cardano due to the project’s upcoming developments: In April, IOHK (Input Output Hong Kong), the asset’s development company, announced the “Alonzo” upgrade will launch in August and integrate smart contracts to the Cardano blockchain.
Arnold also makes note of the project’s social engagement, pointing to the fact that there are more than 400,000 “Cardanians” on Reddit.
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