Traders are shifting away from Cardano and IOTA due to their struggles in maintaining relevance and developer interest.
Cardano's ecosystem has stagnated, with a total blocked value (TVL) of less than $350 million. It lacks significant developer activity and major decentralized exchanges or lending protocols. As a result, Cardano's price has dropped by 60 percent from its peak this year.
Similarly, IOTA has faced challenges in attracting substantial developer interest, leading to a 75 percent decline in its price. This has prompted many investors to abandon both ADA and IOTA.
In contrast, Vantard is emerging as a new contender in the cryptocurrency space. This meme coin token fund has already raised $808,240 in its presale phase and aims to create an index fund composed of top-performing meme coins. Vantard believes that meme coins can outperform traditional cryptocurrencies, especially during bullish market conditions.
VanEck, a global asset manager, has launched an exchange-traded note (ETN) in Europe that tracks the native token of the Pyth Network, PYTH. This ETN is available for trading on Euronext Amsterdam and Euronext Paris, providing European investors with access to this innovative digital asset. The PYTH token is fully secured with tokens held by Bank Frick in Liechtenstein, ensuring its performance mirrors that of the Pyth token. Pyth Network serves as a decentralized oracle protocol, connecting smart contracts to real-world data sources, which is crucial in the decentralized finance (DeFi) landscape.
VanEck's recent initiatives, including the PYTH ETN and a range of digital asset ETNs, demonstrate its commitment to expanding investor access to cutting-edge blockchain technologies.