That is, how can a half-complete network with no operational smart contracts be valued so highly? Novogratz picked up on a common criticism of the project. The high-speed blockchain logged one of the highest ‘commits’ on GitHub last week, but some bigwigs remain unimpressed. They have done something to create this weird cult,” he said.Ĭardano, the number five cryptocurrency has a market cap of just under $50 billion and is within striking distance of Binance Coin (BNB). And it shocks every smart developer I know. “And so things like Cardano, it shocks me, the valuation. Galaxy Digital CEO Mike Novogratz said over the weekend that he was ‘shocked’ over Cardano’s valuation while calling the community a weird cult.
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