WRAPPED BITCOIN ON THE CARDANO BLOCKCHAIN

There are some really interesting things going on in the Cardano ecosystem, and this has to do with Aneta which is wrapped BTC on Cardano. We don't know for sure if they're going to be much demand for Bitcoin on Cardano. They have a comparison for looking at wrapped Bitcoin for Ethereum. This is especially just wrapped Bitcoin but the difference between what happened with Ethereum is that is there going to be the same demand for wrapped Bitcoin Ethereum which allowed you to use Bitcoin in smart contract for the first time. We have actually reached a new all-time high in regards to the Cardano staked.

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Of course, the amount of total value locked within the Cardano ecosystem is still down and we are still in a negative market. I do believe it will go back to an all-time high, it is a matter of when. My concern about Cardano is that they seem to lack volume with Cardano. When you compare it to other ecosystems given it's seventh in terms of market cap. It is a little bit concerning just how far ADA comes back but I think if the market turns around, it is going to do well. I'm still very much set on the idea that ADA is going back above on the road to one dollar.

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Bitcoin has the largest market cap out of all cryptocurrencies with 434 billion in terms of market cap. It is massive amounts if people decide to use Bitcoin on Cardano, you could see an absolutely huge pool of liquidity. With the wrapped Bitcoin on the Cardano blockchain, you are wrapping up your Bitcoin and converting it to Bitcoin where you can farm with it. When Ethereum first came with its wrapped BTC, it was huge because all you could do is hold Bitcoin whereas if you had it on Ethereum, you can lend it out, swap it, borrow, and farm with it. That is why it did so well and it going to continue to do quest well. I believe we are going to see more wrapped tokens on Cardano.