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- Cardano is considered by many in the crypto community to be one of the top altcoins on the market
- While the price gap between BTC and ADA is enormous, profitability is another factor to consider
- The average balance for ADA addresses is $22,854, while the average balance for BTC addresses is $19,570
Cardano is often regarded as one of the most valuable altcoins on the market. Although it has been dubbed the Ethereum killer, no one has ever compared it to Bitcoin. While the price gap between BTC and ADA is enormous, profitability is another factor to consider. And it appears that Cardano is now shining in this regard, with ADA holders outperforming BTC holders. These measures will aid us in determining which asset will be the most profitable in the future.
Is Cardano a better investment than Bitcoin?
Yes, it appears to be the case. This conclusion is based on on-chain data, which reveals the average balance on each of these coins’ addresses. Cardano had a higher balance per address than Bitcoin at the time. The average balance for ADA addresses is $22,854, while the average balance for BTC addresses is $19,570. Because of the $3k differential, Cardano is currently more profitable than the king coin.
However, investor conduct has a role as well. When it comes to active addresses, BTC outnumbers ADA by a large margin. It does, however, have a greater number of addresses with a balance of zero (0) than ADA. In fact, Cardano’s zero balance addresses have been at zero for the past 48 hours. Bitcoin, on the other hand, has between 400 and 500 thousand zero balance addresses every day. This demonstrates that ADA investors are far more committed to the altcoin’s prospects than BTC investors.
This is despite the fact that, due to BTC’s high prices, 16 percent more Bitcoin addresses are profitable than Cardano addresses. It’s worth noting that, as the world’s largest cryptocurrency, Bitcoin (BTC) is the subject of popular trends. This leads to an increase in participation, but not necessarily in investment.
Cardano or Bitcoin in the future?
With the new surge propelling both cryptos higher while keeping other criteria in mind, declaring one to be greater than the other becomes tricky. Cardano has increased by roughly 25% from the start of the rally, whereas Bitcoin has increased by 32% as of press time. Even on the MVRV chart, BTC was slightly higher than ADA, but both appear to be beneficial right now in terms of their valuations.
Things may change, however, as smart contracts are going to be added to the Cardano network. Cardano’s prospects may improve if this occurs.