Bons contends that Cardano and other alternative layer-1 blockchains should draw inspiration from Solana’s playbook to enhance their standing in the competitive blockchain landscape.
Bons’ Cryptocurrency Strategy and Cardano’s Turning Point
There is plenty of competition in the cryptocurrency market, with each platform trying to give something unique.
Instead of criticizing SOL, alt-L1s should emulate it
Yes, I am talking about you, ADA, HBAR, ALGO & EGLD!
Upset about the amount of bots? Attract more bots! Upset about low fees enabling arbitrage? Lower the fees!
Try & learn from SOL's success instead of blindly attacking it
— Justin Bons (@Justin_Bons) February 4, 2024
Bons tells platforms like Cardano not to criticize Solana’s bot activity and low fees, saying that these things should be praised. He asserts that a lot of bot activity means the blockchain is being used and that transaction fees should be more important than the type of transactions.
He compares the situation to the stock market and says bot activity has been good. He emphasized that blockchain sites should think the same way.
A careful look at the Cardano chart shows that there might be a turning point. The 50-day EMA and ADA are engaging, a key sign for determining the current trend’s direction.
Prices will decrease after the recent drop below this level. A price change could happen, but it depends on how ADA reacts to this technical level, with $0.4240 serving as crucial support.
Bons notes that if Cardano wants to be as successful as Solana, it should think about cutting fees and getting more bots, which he sees as a sign of how valuable the network is.
While this point of view has some supporters, it also has some critics. Some say that much bot activity could cause network congestion and security risks. They use examples from the Solana environment to back up their claim.
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