Justin Bons CyberCapital has stirred the Cardano pot with a provocative claim: Cardano (ADA) and other alternative layer 1 blockchains should take a cue from Solana’s (SOL) playbook. This bold statement comes amid an industry where each platform competes fiercely to offer unique advantages.
Justin Bons CyberCapital has stirred the Cardano pot with a provocative claim: Cardano (ADA) and other alternative layer 1 blockchains should take a cue from Solana’s (SOL) playbook. This bold statement comes amid an industry where each platform competes fiercely to offer unique advantages.
Bons suggests that instead of criticizing Solana for its botting activity and low fees that facilitate arbitrage, competing blockchains like Cardano should embrace these aspects. He maintains that high bot activity equals usage, and that blockchain economics should not be swayed by the nature of transactions as long as fees are paid. Drawing parallels to the stock market, he posits that bot activity has been beneficial and that blockchain should be no different.
Analyzing the Cardano chart, we see a possible turning point. Currently, ADA is interacting with the 50-day EMA, an indicator that is often observed to determine the immediate direction of the trend. The price has recently fallen below this level, suggesting a short-term bearish outlook.
However, the possibility of a price reversal depends on ADA’s response to this key technical level. The support at $0.4240 could serve as a basis for such a reversal, but ADA’s next moves should be decisive.
For ADA to mirror Solana’s success, according to Bons, it would need to reduce fees and potentially attract more bots, which he sees as a measure of the network’s usefulness. This perspective has not been without its critics, some of whom associate high bot activity with network congestion and security risks, evidenced by past exploits within the Solana ecosystem.
Furthermore, Bons’ change of stance towards Solana, from critical to supportive, has certainly attracted attention. However, he stands his ground and claims that his position is based on truth, regardless of her popularity. He believes that networks should not discriminate different types of activities, as long as they contribute to the utility and economics of the network.
