Renowned cryptocurrency expert and Mechanism Capital co-founder Andrew Kang claims in a shocking statement that Chinese investors were the driving force behind Cardano’s (ADA) historic 5,000% increase.
The investor used social media to highlight how Chinese involvement had a significant influence on ADA’s explosive growth.
Kang’s claim gained momentum after an online video featuring elderly Chinese people enthusiastically exploring the nuances of purchasing and selling BRC20 assets went viral.
An anonymous user posted a video showing senior Chinese citizens engaged in a cryptocurrency lesson. It highlights the surprising interest that this group of people has in blockchain assets.
A more widespread discussion over the real impact of Chinese funding on the cryptocurrency market has been spurred by this disclosure. The widely shared video demonstrated the growing interest in BRC20 assets by Chinese investors, which stoked more conjecture on the future of local Bitcoin assets.
Cardano’s bull run
The conversation also made it necessary to take a deeper look at Cardano’s outstanding performance. almost the course of 2020–2021, ADA had an astounding gain of almost 8,603%, reaching a peak of $3.1.
The majority of this increase occurred in 2021, which strengthened Cardano’s position as a major player in the cryptocurrency space.
According to recent data, ADA has had strong growth, rising by 73.7% from the start of December. Cardano is currently among the top performers in the cryptocurrency market because to this outstanding performance.
