The Cardano project remains one of the most controversial projects in amongst its investors. Some believe that the strides it has made so far are commendable. The fact that it currently ranks at the 11th spot in the market without a fully launched network being their main argument.

Others, on the other hand, believe there has been slack in the growth of the network and nearly no development in recent times. Weiss Ratings, leading rating agency for cryptocurrencies, stocks and mutual funds, believes Cardano is the next big thing.

Earlier in the year, the rating firm had stated that once the network was fully launched, they expect “great things out of the protocol, quite possibly taking #EOS’s place.” Weiss Ratings has now doubled down on this further stating:

“ADA’s commitment to high-assurance code and thorough testing before release means its #dApps will rest atop a solid foundation. Emphasis on security while transitioning to #PoS is unique to the project. These features may ensure its sustainability & market dominance.”

The agency also commended the team for largely staying away from the press and creating hype. The project has always focused on deep research to provide a ripe environment and climate for dApps, they added.

Cardano (ADA) Price Update

Over the last couple of days, Cardano has been able to cross over the $0.10 position on several occasions. However, the asset has lacked enough support to keep it above this price level.

ADAUSD Chart Provided By TradingView

This also goes for its ranking as it drops and climbs to the top ten ranked cryptocurrencies. The number 10 spot is being battled out by Stellar (XLM), Tron (TRX) and Cardano (ADA).

At the time of press, Cardano is down by a moderate 4.64%, dropping to $0.0848. It has also in the last few days dropped to 11th in the rankings, losing the tenth position to Tron. However, the difference remains just under $100 million between the two and could quite easily change in the days to come.

News Source