Forbes states that there are as many as 22,932 cryptocurrencies in the world, with a market capitalization of $1.1 trillion in total. The community is bullish that their holdings are sure to have a lot of potential in the future. Makes sense, for the present is filled with volatility that is causing fluctuations. Hence, one can bet on the future and let the time take a final call.
A pinch of philosophy aside, experts are analyzing the top twenty crypto assets to understand how well they can be understood in terms of economics. Topping that list are Cardano, Polkadot, and Kusama.
Cardano Price Returns
The ADA price is trading around $0.4099 at the time of drafting this article. The overall change in recent times has been positive to record a figure of 2%. Notably, Cardano is having the time of its life since it is followed by two more assets with negative values to their names.
There is a conception among traders, or a community of traders for a broader perspective, that price fluctuation matters the most when taking a call on restructuring the portfolio. True, but look at the way in which traditional portfolios are built.
In all honesty, they are structured keeping in mind several factors like activities that happened in the past, activities that are happening in the present, and the one that is about to happen. However, factors from the broader timeline are considered, including how the businesses plan on developing their upcoming activities.
The same is barely the case with digital assets. Traders take a call pretty much instantly when there is a price drop.
ADA has been positive in the last 3-6 months. Cardano price prediction sees the token go as high as $0.88 by the end of 2023. The following year could witness a rise above $1. however, there is little evidence that it continues to drive the same momentum.
Cardano still has a longer distance to travel and climb up the ladder. Ethereum has a brighter future with a +26% return. It has been teased as the next Bitcoin for a reason, and such numbers only make it more evident.
Polkadot Price Returns
As noted earlier, only ADA registered a positive return. That brings the list to the second-best digital asset, DOT. It stands at the second position with a negative return of 8% in the last 30-60 days. It is changing hands at a higher value of $5.96, according to CoinMarketCap at the time of drafting this article.
Yet, Polkadot sticks to a lower rank when it comes to nothing better than development activities. This begs the question, can the trading price solely be the criterion for traders to modify their trading activities?
DOT is dancing around negative figures, but it remains well above the trading price of ADA. The discussion of DOT being better than ADA is on a different level. The same has been summarized later in the article, though.
Ironically, Polkadot maintains an average stand in the top three, with Cardano left at the lowest point. In other words, Cardano struggles to gain confidence despite a positive return. Talk about volatility when the digital asset is itself fighting the existential question.
Kusama Price Returns
Cardano sees development activities happening a lot with the community in the loop about those developments. It is likely that a similar approach has put Kusama at the top of the list even though price returns on KSM have been -12% in the last 30-60 days.
Kusama is trading on the board at $30.95, according to CoinMarketCap at the time of drafting this article. Notably, it has one of the highest negative returns among the top ten crypto assets on the list. Decentraland and Vega Protocol each have -14% and -17%, respectively.
Missed it by that much, but it brings the question back about how well traders can go with the board price when including digital assets in their portfolios.
Bringing some relief is the number that shows that the top crypto assets have generated -3% return against -14% return generated by crypto assets ranging from 11th to 20th position. Consider that, and ADA, DOT, & KSM look much more attractive. It is also natural for lower assets to perform comparatively negatively.
Meanwhile, Cardano continues to see the development activities on its network. That is stopping the ship from sinking after hitting the iceberg.
Cardano vs Polkadot vs Kusama
Cardano wins the race with no doubt, for it has generated better returns. There may be questions about volatility. Truth be told, volatility, along with the risk factor, is riding high on the entire crypto market. One may choose to take a leap of faith with their preferred crypto token.
The size makes Kusama the best digital token. Returns paint a different picture, giving a soft corner to Cardano. However, taking a look into the development activity and the trading price, it is right to assume that Cardano is the potential candidate to see itself get into more accounts in the coming days.
Kusama could hold onto its position by purely relying on the number at which it appears on the trading board. Cardano will, if ever it happens, surpass for the top position when the activities start yielding fruitful results.