When you factor in the hype, the odds favor STEPN winning in the short to medium term.
Cardano has had a lot going on since it launched smart contracts in 2021. It now has a wide range of projects ranging from a Metaverse project to a stablecoin.
STEPN is revolutionizing the lifestyle space with its cutting-edge Web 3.0 application and generously rewarding investors.
While both are likely to do well in the long run, STEPN is likely to benefit from the hype factor. This could see it outperform ADA in the next bull run.
Like the rest of the market, Cardano underperformed for most of 2022. This was due to the bearish macro conditions that hit the broader market. However, like most cryptocurrencies, Cardano’s fundamental metrics are improving, an indicator that it could bounce higher than ever once the bear run is over.
For example, since Cardano introduced smart contracts in October 2021, there has been remarkable progress in Dapp’s business. The latest project built on Cardano is Djed, a fully reserve-backed stablecoin. Cardano also saw a Metaverse project launch in addition. Since ADA is the utility token of the Cardano network, its value is likely to increase as developer activity increases.
STEPN is one of the few cryptocurrencies that held up the 2022 bear better than most cryptocurrencies. STEPN was launched in September 2021, trading at $0.15. In April 2022, when the rest of the market was heavily bearish, STEPN hit an all-time high of $4.11. That means it gave investors a 10,500% return on investment in less than a year. However, STEPN has since crashed 74% from its all-time highs, but given its fundamental value, the odds of a rebound are high.
The future is Web 3.0, and STEPN is one of the Web 3.0 applications that has gained traction faster than many other players in this growing space. STEPN is designed to be fun while adding value to the end user. Indeed, it encourages users to adopt healthy lifestyles while being rewarded. With most of the steps coming up to make the app even better for users, STEPN has pretty solid growth prospects. This makes the STEPN token one of the best cryptocurrencies to watch in 2022 and beyond.
Which is a better buy?
Both Cardano and STEPN have what it takes to offer investors huge returns once the bear market is over. However, in terms of absolute wins, the odds strongly favor STEPN. This is because there is a lot of hype around it, and if the past is anything to go by, then hype is a critical factor in a crypto’s price action. STEPN’s chances of growth are also likely to be amplified by being backed by some very big names in crypto, Binance among them.