Cardano (ADA) Overtakes Stellar (XLM) After Interview with Ryan King
Ryan King, the Director of Acceleration at Emurgo, has recently given an interview to Blockchain News Korea concerning the organizational structure of his company, its role in the Cardano Foundation and their long-term goals for the project. The market cap of the Cardano token (ADA) has reacted positively to the exposure in what has otherwise been a red day for the sector.
Who is Ryan King & What is Emergo?
Emergo is a registered company based in Japan that is dedicated to helping develop, support, and incubate commercial blockchain startups as well as integrate them into the Cardano Blockchain Network. As the Director of Acceleration, Ryan King’s role is to help facilitate the development of companies seeking to build their platforms on the Cardano network. He offers a variety of financial, technical and legal assistance to these clients.
Ryans explain that, in the short-term, his main focus is to encourage as many entrepreneurs and development teams as possible to build their decentralized applications the Cardano network instead of the alternatives. This strategy puts Cardano in direct competition with protocols like Ethereum (ETH), Stellar (XLM), and Ripple (XRP) who are also employing a similar strategy.
So far, Cardano has had several successful ICOs launched on the platform. Traxia (TMT), a coin geared towards invoicing, was the first Cardano token sale. It was followed by SP8DE (SPX) an online gaming token. Neither of these tokens is well known or widely traded.
Cardano’s value has reacted positively to this interview, up by around 10% in the last 24/hours to a per unit price of $0.24 and a total market cap of $6.35 billion. The rest of the market is down today, and Cardano has overtaken Stellar Lumens (XLM) as the 7th largest asset by market cap.
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