Lately, there has been intense demand for Cardano. Moreover, people also want to know where ADA is going. Some people expect that ADA will dethrone Ethereum. Also, ADA might take the number two rank in market cap. In line with this, Ben who is a crypto expert in ADA gave a clear explanation about the crypto.
Cardano (ADA) Dethroning Ethereum (ETH)
Ben believes that Cardano has got a really great shot to dethrone Ethereum in the long run. In this specific bull run, he is not sure if it can pass ETH but he believes it has got a decent chance. Moreover, mainstream investors have now started to hear the word ADA. Likewise, this is very important for the price as it will bring in a pool of new potential investors.
The main issue with ETH is that it comes with scalability issues, as well as high gas fees. According to Ben, this will affect the institutional value coming into ETH. However, we can still see at least a 10x increase from ETH this bull run. Although, the gas fees tend to scare off a lot of traders.
ADA has taken into account all these problems faced by ETH. The ADA platform and its future upgrades will come with solutions. Therefore, it won’t have issues with scalability or security down the road.
In the long run, ADA has a chance to become number two in the market cap. Consequently, Ben sees a future where ADA and ETH fight back and forth with one another. This is similar to ETH and XRP when the latter would pass ETH and then fall back.
Cardano (ADA) $50 Moonshot
According to CoinGecko, the ADA price is $1.21, at the time of writing.
TradingView)
Cardano has a market cap of over $38 billion. On the other hand, Ethereum’s market cap is about $180 billion. Thus, ADA needs four and a half times the market cap to reach the level of ETH.
Ben added that, if ADA can reach or surpass ETH in market cap, all eyes will be looking at an exciting $50. Moreover, a lot of investors will be super happy with a $50 moonshot. Moreover, Ben got a lot of questions from investors about whether to sell ETH for ADA.
Bed added,
Ben said that it is better to hold both the cryptocurrencies Ethereum and Cardano. He also suggests waiting for an ETH big run-up and then ADA to have a dip. However, that would be the time to diversify the portfolio.
This article first published on coinquora.com
Continue reading on CoinQuora
Source: Cryptocurrency - investing.com
