As the cryptocurrency industry grows, various cryptocurrency projects are fighting for dominance in different areas. Accordingly, projects with more usage scenarios are more successful in various fields. In this context, an altcoin project has overtaken leaders such as Bitcoin and giant companies such as BMW.
This altcoin beat Bitcoin and BMW
Ethereum rival altcoin project Cardano (ADA) has emerged as the top cryptocurrency brand with a division score of 52.6, according to the “MBLM Top Brand Intimacy 2022” report. Cardano; Other mainstream companies such as Ford, Nestle and BMW have also managed to outdo it. Thus, it ranked 26th overall on the respected report’s list. The aforementioned report focuses on the sincerity and user relations of brands. Accordingly, Cardano is the most friendly Blockchain project.
However, Bitcoin (BTC) is not bad on the list. The first cryptocurrency ranked second among digital asset brands and was ranked 30th in the overall list. Polkadot (DOT), which ranked 111th overall, followed BTC. Leading altcoin Ethereum (ETH) was ranked 120th, making it the fourth most brand-friendly crypto.
What does the MBLM report measure?
MBLM’s Brand Affinity Study focuses on the biggest emotional brands. Accordingly, the ranking evaluates how consumers connect with the brands they use and love. In addition, it examines more than 600 brands by using technological tools such as Artificial Intelligence to make the ranking.
The research reviews intensity, archetypes, and stages based on an episode score between 0 and 100. Thus, it measures the sincerity of brands in various industries. The higher the score, the more intense the emotional attachment to a cryptocurrency or brand in another industry. As we have reported as Kriptokoin.com, Cardano will soon release the Vasil hard fork update. The transparency of the developers about it may have pushed the ADA up in the rankings.
Why did Bitcoin lose to an altcoin project like Cardano?
The results of the research reveal that the moves of the Cardano developers made the altcoin project more friendly than Bitcoin. ADA provides lower costs and risks within the market. For this reason, the network is being launched as a platform that aims to serve all those who make a difference. This highlights ADA as a well-marketing altcoin in the research. The report describes the situation as follows:
“Cardano creates luck for the many as well as the few and works to bring positive global change. Also, a blockchain platform for difference makers, innovators and visionaries. This explains why Cardano is pioneering emotional connections and stronger bonds with users.”
Bitcoin is a leader in entering the lives of consumers
Bitcoin lagged behind an altcoin project like Cardano in terms of brand intimacy. However, it is in the lead in another report of MBLM. This report looks at how much of a place assets and brands are in the lives of consumers. Accordingly, BTC became more rooted in users’ daily lives and stood out as an important part of consumers’ daily existence.
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