When you factor in hype, STEPN has a winning side in the short to medium term.
key points:
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Cardano has had a lot going on since the launch of smart contracts in 2021. Now it has a wide variety of projects ranging from Metaverse projects to stablecoins.
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Steppen is revolutionizing the lifestyle space with its state-of-the-art Web 3.0 app and is rewarding investors well.
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While both are likely to do well in the long run, STEPN is likely to benefit from the hype factor. It may outperform ADA in the next bull run.
Cardano (ADA)
Like the rest of the market, Cardano has been underperforming for most of 2022. This is because of the recessionary macroeconomic conditions that have affected the entire market. However, like most cryptocurrencies, Cardano’s core metrics are improving, an indicator that it could bounce back higher than ever after the bear run ends.
For example, since Cardano introduced smart contracts in October 2021, there has been significant progress in dapp activities. The latest project building on Cardano is DZ, a stablecoin fully backed by reserves. Cardano has also seen a Metaverse project launch on top of this. Since ADA is the utility token of the Cardano network, its value is likely to go down as developer activity increases.
Stepan (GMT)
STEPN is one of the few cryptocurrencies that has driven the 2022 bears better than most cryptocurrencies. STEPN launched in September 2021, trading at $0.15. STEPN made an all-time high of $4.11 until April 2022, when the rest of the market was heavily bearish. This means that it has given investors an ROI of 10,500% in less than a year. Although STEPN has since crashed to 74% from its all-time high, the potential for a bounce-back is high, considering its core value.
The future is Web 3.0, and Steppen is one of the Web 3.0 apps that has gained traction faster than many other players in this fast-growing field. STEPN is designed to be fun as well as add value to the end user. This is because it encourages users to adopt a healthy lifestyle while rewarding them. With most of the milestones to come to make the app even better for users, STEPN has strong potential for further growth. This makes the STEPN token one of the best cryptocurrencies to watch in 2022 and beyond.
Which is better to buy?
Cardano and STEPN both have what it takes to deliver huge returns to investors once the bear market is over. However, in terms of absolute profit, the odds are in favor of STEPN. This is because there is a lot of hype surrounding it, and if the past is anything to go by, hype is a significant factor in the price action of crypto. Being backed by some very big names in crypto could also increase the growth potential of Stepan, chief among them Binance.