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Cardano ranks above Bitcoin and BMW in ‘Top Brand Intimacy 2022’ report

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26
Aug
  • Among all cryptocurrency brands, Cardano occupies the first spot and 26th among 600 global brands.
  • While Cardano managed to beat Bitcoin for the first spot, Polkadot has ranked higher than Ethereum.

The MBLM’s Top Brand Intimacy 2022 rankings are out and blockchain platform Cardano has grabbed the top spot among its other crypto peers by beating giants like Bitcoin. As per the report, Cardano has emerged as the top cryptocurrency brand with a brand quotient score of 52.6.

Competing with other industry brands, Cardano has secured the 26th position overall with 25 companies ahead of it. The brand intimacy rankings by MBLM feature more than 600 global brands. With a reference to American football, Cardano founder Charles Hoskinson tweeted: “Moving the Chains”. Hoskinson has been often sharing his vision and desire to take the Cardano blockchain network to new heights.

MBLM has named all of the 600 global brands based on the strength of their emotional connection with their customer base. It has gathered the data by leveraging powerful technologies such as big data and artificial intelligence. MBLM’s Top Brand Intimacy 2022 rankings feature more brands than ever before. It is also for the first time that strong brands from the crypto space have found their spot.

In the report, MBLM notes that brands with higher intimacy consistently outperform the Fortune 500 and the stock markets. Thus, these brands generate more revenue and profits in the long term. In the report, MBLM writes:

New entry Cardano is not only the highest ranked crypto brand but also the highest performing financial services brand in our study, ranking 26th overall.

Here’s how other cryptocurrencies performed

After Cardano, Bitcoin sits in the second spot in the crypto industry rankings and overall at the 30th rank. Interestingly, Polkadot also beats Ethereum to third place with an overall ranking of 111. ETH is the fourth at an overall rank of 120.

The Cardano community has expressed excitement over the news as the platform grabs a spot with giants such as BMW. Some also took a jibe at billionaire investor Mark Cuban who earlier said that memecoin DOGE has greater potential than Cardano. In an interview with Altcoin Daily earlier this month, Cuban said:

I still think DOGE has got more applications potentially available to it than Cardano … but the opportunity for Cardano was greater until DOGE really becomes a platform for applications.

Just like Ethereum, Cardano is a Layer-1 decentralized blockchain platform allowing developers to build decentralized applications (dApps) for different use cases. Although Cardano’s native token ADA hasn’t performed at par with other altcoins, it still continues to grab a spot among the top ten cryptocurrencies by market cap.

Currently, Cardano developers have been working on the much-awaited Vasil hardfork which will considerably improve the network performance.

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