Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency

Willy Woo: ADA and LINK Are Most Closely Correlated to XRP. Could Both Share Same Fate As XRP Someday?

Solomon Odunayo December 27, 2020 3 min read
Willy Woo: ADA and LINK Are Closely Correlated to XRP. Could Both Share Same Fate As XRP Someday?

A popular cryptocurrency analyst, Willy Woo, has envisaged that two top 10 digital currencies, Cardano (ADA) and Chainlink (LINK) could share the same fate as XRP, considering the price movement of the duo since XRP was hit by the lawsuit filed by the U.S. SEC against Ripple.


trade now

According to the former Adaptive Capital partner, Willy Woo, it’s obvious that Chainlink (LINK) and Cardano (ADA) correlated with the huge crash experienced by XRP than any other digital currencies in the market.

He said that the price movements imply that traders and investors believe that the two top cryptocurrencies could someday face similar regulatory challenges as those of XRP.

Read Also: Cardano’s Goguen Era Progresses to Its Full Implementation with This Development Update

Willy Woo noted:

“Chainlink and Cardano [are] most closely correlated to XRP.

This is not a full backtrace situation… It’s a two-day trend, meaning traders are lumping regulatory fears of XRP onto those two coins the most.”

Willy Woo: ADA and LINK Are Closely Correlated to XRP. Could Both Share Same Fate As XRP Someday?

He further stated that the lawsuit between Ripple and SEC could make things difficult for the altcoin market.

Bitcoin’s Emergence as a Store of Value

According to Woo, Bitcoin is now proving itself as a strong store of value. This, he believes will bring about a complete cryptocurrency ecosystem that includes legitimate altcoin-based platforms.

The analyst also emphasized that Bitcoin dominance in the market could gradually shift down to one-third of the total market cap as legitimate crypto projects establish themselves over time.

“In the midst of alt-coin carnage, it’s probably a good time to time post a thread about the future of altcoins. And where its place may be in crypto-cap dominance.

Read Also: Chainlink (LINK) Notably Outshines Bitcoin (BTC) In Developer Activity On Github.

“Store of value buckets (very roughly):

“$12 Trillion Gold
$90 Trillion Fiat
$100 Trillion Stocks
$100 Trillion Bonds
$250 Trillion Real Estate

“Derivatives = $1000 Trillion+

“Derivatives encapsulates the buying, selling and transmission of risk. The modern world is enabled by them.

“Want insurance for your house? Do you want food that farmers will grow? How about funding for your first business? Derivatives enable the risk market to enable these activities for you. They use collateral in the form of store of value to operate.

Read Also: Analyst: Chainlink (LINK) Is Poised To Hit $32 by the End of 2020; Reason behind Its Bullish Trend Revealed

“Decentralized finance (DeFi) in its current form is an experimental area where we figure out how to build networks to buy, sell and transmit risk. For that to happen the underlying networks will need to draw value into their market caps to use as collateral.

“In the traditional world it’s a 2:1 ratio between derivatives and store of value. That would translate to a BTC dominance of 33%. The first thing to build is store of value, that’s why BTC dominance has been so high. It’s possible it continues a downtrend towards 33%.

“We’re currently in a phase of weeding out scams, ponzis and security frauds from legitimate experiments. The ride will be choppy.”


Follow us on Twitter, Facebook, and Telegram

Trade Now

Continue Reading

Previous: Analyst States Reason Why He’s Optimistic That Ethereum Would Break ATHs in 2021
Next: Elon Musk’s Special Holiday Tweet for Dogecoin; Teases Powering Future Economy on Mars with Crypto

Related Stories

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
2 min read
  • Blockchain
  • Cryptocurrency
  • Terra (LUNA)

Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain

May 25, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,553.00
-0.75%
ethereum
Ethereum (ETH)
$1,831.80
-6.79%
tether
Tether (USDT)
$1.00
0.18%
usd-coin
USD Coin (USDC)
$1.00
0.11%
binancecoin
BNB (BNB)
$311.95
-5.01%
ripple
XRP (XRP)
$0.397677
-2.38%
Binance USD
Binance USD (BUSD)
$1.00
0.31%
cardano
Cardano (ADA)
$0.486347
-5.96%
dogecoin
Dogecoin (DOGE)
$0.079478
-5.63%
polkadot
Polkadot (DOT)
$9.31
-6.67%

Recent Posts

  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet
  • Litecoin To Be Delisted Out Of Major Crypto Exchanges

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
3 min read
  • Cryptocurrency Brokers News and Reviews

CharterPrime Review – Is CharterPrime Scam or a Proper Broker?

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%