Cardano ($ADA) NFT Transfer Volume Nears Ethereum, Hoskinson Calls Out Naysayers

Cardano ($ADA) NFT Transfer Volume Nears Ethereum, Hoskinson Calls Out Naysayers

Cardano ($ADA) is less than 24-hours away from the Alonzo upgrade that would make the blockchain smart contract compatible. The smart contract went live on Alonzo Purple on September 1st itself that open the gates for new Dapps and NFT minting on the testnet before the mainnet launch. While many naysayers are still betting against the smart contract support, the Cardano network has managed to carry out key upgrades on time.

A recent stat showed that the transfer volume of Cardano NFTs (CNFT) is already catching up with the Ethereum NFTs. While Ethereum remains the top blockchain choice for many NFT projects but the scalability issue and high gas fee have opened the opportunity for many other “Ethereum killers” like Solana whose NFT marketplace is making headlines with multi-million NFT sales. Cardano would also like to take a chunk of the market share once the smart contract is integrated into the mainnet tomorrow.

Apparently #Cardano $ADA #NFTs are catching up with #etherium $ETH NFTs in terms of transfer volume. (graph courtesy of @coinmetrics via @MarekFufu)— Fahadouken NFT (@FahadoukenNFT) September 10, 2021

Hoskinson Calls Out Cardano Derangement Syndrome

Cardano has defied marked odds against it to become the third-largest cryptocurrency by market cap. Skeptics continue to bet against the network and founder Charles Hoskinson has a name for the syndrome called Cardano Derangement Syndrome (CDS). Hoskinson called out a Coindesk reporter who claimed minting NFTs on Cardano would be impossible.

Cardano Derangement Syndrome at its finest. CDS is a progressive disorder that slowly destroys the sufferer's ability to decern reality. It ultimately leaves them debilitated and screaming in a padded cell "fuck Charles Hoskinson" over and over again— Charles Hoskinson (@IOHK_Charles) September 11, 2021

Another user minted an NFT on Cardano for the tweet that claimed its “impossible” to mint NFTs. Hoskinson has not held back when it comes to responding to trolling disguised as criticism and has even warned about an incoming “FUD Storm”

Hey @CoinDesk and @davidzmorris check it out! I made an NFT on Cardano. Exactly as researched and designed for the last 5 years. Amazing! 🤩Shoutout to @Tokhun_io and @pool_pm 🤜🤛#Cardano #Ada #CNFT #NFTs #DeFi #smartcontracts #goingfornumber1— Rick McCracken 🇪🇺🫖💋🤗 (@RichardMcCrackn) September 11, 2021

$ADA price on the other hand has surged 2.5X over since August in the run-up to the key upgrade and even claimed to the third spot. The altcoin touched a new all-time-high (ATH) of $3.10 and was looking set to enter price discovery mode like Solana before the Tuesday market flash crash. $ADA is currently trading at $2.41, down by 4% over the past 24-hours. Just like Ethereum, the price of the altcoin might see another bullish push post the Alonzo upgrade on Sunday.