Now that cryptocurrency has become a valid and accepted industry almost universally, it is perhaps no surprise that different cryptocurrencies compete against each other to occupy the number one spot. With a substantial growth of general sector maturity, cryptocurrencies are now featuring alongside other industries in the market in terms of visibility.
The MBLM Top Brand Intimacy 2022 report revealed Cardano (ADA) bagging the number one spot. Cardano has a quotient score of 52.6, earning it the highest place among other cryptocurrencies and a considerably high position with brands in general.
The 2022 report puts Cardano at number 26, ahead of other well-known brands like the manufacturer Ford and the processed food brand Nestle. While that sounds like quite an impressive feat already, this is not where the incredible persistence of cryptocurrencies ends.
In MBLM's brand intimacy report, the focus areas highlight engagement and public emotions surrounding a particular brand. To that end, several other cryptocurrencies have also made it to the rankings. Bitcoin (BTC), for example, was positioned at number 30 overall. Polkadot (DOT) and Ethereum (ETH) have bagged ranks within the top 200.
However, it seems a little unbelievable that Cardano outperformed Bitcoin, which might just be the most well-known cryptocurrency brand. Notably, lowering the risk factor and reducing the investment costs was a stellar move by the brains behind Cardano, and the sheer brilliance of their branding is now reflecting off of the 2022 Brand Intimacy rankings.
Besides, the blockchain user interface plays a big hand in ensuring that crypto investors and users can connect with the brand on a more intimate level~ almost as if they are considering it their own. Naturally, network development in keeping with Cardano's existing blockchain and structural integrity is essential to maintaining their streak against big names like Bitcoin and Ethereum. So, for example, Cardano's next objective is to ensure that their network development includes a design to improve the scalability of the blockchain.
In any case, the fact remains that this is the first time cryptocurrency as an industry was considered for MBLM Brand Intimacy report, which is proof that the brands featured specifically, and cryptocurrency in general, is something that consumers and investors are slowly warming up to.
This palpably points in one direction: just as MBLM accedes, crypto is already showing the telltale signs of setting an indisputable record in terms of performance compared to other financial institutions and industries.