Director of African Operations at IOG: I Found A Million Users to Bring Onto Cardano
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When virtually all cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), were massively falling following an unfavorable announcement about Bitcoin (BTC) by Elon Musk, Cardano (ADA), the 4th largest cryptocurrency by market cap, shockingly remained resilient.

Many have since attributed this positive trend to the fact that Cardano (ADA) is arguably the greenest in the crypto ecosystem.

Read Also: Cardano Creator: 5th-8th Place in a Starcraft Tournament a Decade Ago Received 25 BTC worth $1.4M Today

Energy Efficiency: Cardano Beats Bitcoin, Gold, and Banking System

In a chart credited to Galaxy Digital and Forbes, and shared by a Cardano enthusiast on Twitter, Aleksandra Huk, Cardano’s proof of stake (PoS) flawlessly beat Bitcoin’s proof-of-work (PoW), Gold, and Banking System in terms of energy efficiency.

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In the chart presented, the Estimated Annual Energy Consumption of the three assets (Cardano, Bitcoin, Gold) and Banking System, was measured in terawatt hour (TWh) per year.

Per the chart, Cardano used 0.006 TWh, Bitcoin used 113.89 TWh while Gold and Banking System consumed 240.21 TWh and 263.72 respectively.

Read Also: Analyst: Cardano (ADA) DApps Have Potential to Go Parabolic Once Support for Smart Contracts Launches

Captioning the image of the chart, Aleksandra Huk wrote, “This put things into perspective. 1. we should all boycott banks and ditch fiat, for the sake of our planet. 2. gold sucks nearly as much as our banking system 3. Bitcoin is over half less harmful for the environment, than the system we are using daily 4. Cardano fixes this.”

Cardano (ADA) and the Crypto Market

Over the past few days, it has been a dramatic scene in the crypto market. The bear sent by Elon Musk, the CEO of Tesla, is still very much active.

Over a carbon footprint-related issue, Elon Musk decided to make a U-turn on his previous belief in Bitcoin (BTC). He also decided to suspend the flagship cryptocurrency as a Tesla payment option, hence the magnificent crash in terms of price.

Read Also: Charles Hoskinson Engages Billionaire Mark Cuban Who Asked about Cardano (ADA) Use Cases

Surprisingly, Cardano (ADA), a proof of stake powered blockchain project, did not tend to the negative trend. ADA only seized the opportunity to surge even higher, recording a new all-time high around 2.40 in the process.

Although Cardano has since retraced, it’s still holding above the $2.00 support level. At the time of filing this report, ADA is trading at $2.05, with a relatively 5% price downtrend in the last 24 hours.

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Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.