According to a research report by Grayscale, the world’s largest digital currency asset manager, Cardano could be undervalued given its significant growth in adoption over the last 12 months.
Grayscale has suggested that Cardano may be undervalued compared to Bitcoin and Ethereum.
The research report published Sunday highlights how the third-ranked cryptocurrency’s fundamentals have improved across the board over the last year.
Cardano recently launched smart contract functionality with its Alonzo upgrade, paving the way for decentralized applications to flourish. The update makes the Charles Hoskinson-led blockchain. network a direct competitor to other smart contract platforms like Ethereum, Solana, Avalanche, and Polkadot.
