You Could Be Comparing Cardano ($ADA) to Amazonβs Early Years
Have you ever considered the similarities between Cardano ($ADA) and Amazon in their early days? According to Dan Gambardello, the founder of Crypto Capital Venture, there are some exciting parallels to explore. While ADA holders have endured a tough market for almost two years, Gambardello emphasizes that the comparison isn’t about their technology or specific accomplishments. Instead, it’s about their underlying principles and potential for long-term value.
Gambardello highlights how Amazon’s stock plummeted from $5.25 to 30 cents between 1999 and 2001. Similarly, ADA reached a peak of just over $3 in September 2021 but has now dropped to around 25 cents. This drastic decline could mean that purchasing ADA in 2023 is like buying Amazon stock in 2001.
Despite ADA’s 90% crash, its market cap of around $8.9 billion is higher than Amazon’s $2.2 billion market cap at a similar stage. Gambardello draws parallels between a letter Jeff Bezos sent to Amazon shareholders during its downturn and Cardano’s current position. Both companies experienced setbacks but remained strong, with Cardano making advancements in staking, smart contracts, and scalability.
Cardano’s early stages of customer adoption and its focus on security and decentralization make it comparable to Amazon’s relentless focus on customer experience. Gambardello also believes that Cardano’s potential surpasses other blockchains like Solana, which he believes lack in security and decentralization.
With startups already utilizing Cardano and real-world use cases emerging, such as World Mobile’s efforts to connect the unconnected and bank the unbanked, Gambardello sees significant untapped potential in Cardano. He believes it is well-positioned for long-term success, much like Amazon, and could offer substantial value to foresighted investors.
Hot Take:
The comparison between Cardano and Amazon’s early years is fascinating and could indicate a bright future for ADA. If Cardano continues on its current trajectory, it might just become the next game-changer in the blockchain industry.
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