A video by Lee the Captain discussed the possibility of Cardano spiking for $10. The view is held that Cardano is one of the greatest layer-one blockchains of all time. As a result, its native token, ADA, could hypothetically reach a price of $10 during this bull run.
While it’s important to note that this isn’t financial advice or a guarantee, some may cringe at the suggestion, arguing that Cardano isn’t the best blockchain compared to others like Solana. However, the expert firmly disagrees with that sentiment.
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Comparing Cardano and Solana
When examining Cardano, critics often claim that it is slow while asserting that Solana is faster. Yet, it can be noted that Cardano is also fast.
Detractors may argue that Solana is highly scalable, but Cardano is also highly scalable. Importantly, Cardano is considered more established, with a stronger community that is characterized as A+.
Thus, the conclusion is drawn that, as a layer one blockchain, Cardano surpasses Solana.
Cardano vs. Ethereum
There is a perception among some that Ethereum outshines Cardano. However, the expert disagrees with this notion. The question posed is why anyone would consider a layer one blockchain like Ethereum, with its notoriously high gas fees and scalability issues, to be the best.
While Ethereum’s ecosystem is acknowledged as amazing, with a vast community of supporters, it does not necessarily make it superior to Cardano.
Cardano boasts very low gas fees and excellent scalability—traits that Ethereum currently lacks. While it may be agreed that Ethereum is larger than Cardano, this does not equate to being better.
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Cardano’s Market Cap Potential
Does Cardano need to match Ethereum’s size? The answer is no. It is suggested that achieving even 50% to 70% of Ethereum’s market cap would be a significant accomplishment for Cardano.
If ADA were to reach $10 during this bull run, its market cap would be around $360 billion. This figure is only about $200 billion less than Ethereum’s all-time high market cap reached in 2021.
Some may react with surprise at the thought of ADA surpassing a $300 billion market cap. Yet, it is argued that when Ethereum hit those heights, the market conditions were far less favorable, with fewer institutional investors and less overall participation in the crypto space.
Growth in Crypto Ownership
In 2021, there were approximately 300 million crypto owners. In contrast, current research indicates that this number has risen to over 600 million. This doubling of ownership suggests immense potential for FOMO and hype during the current bull run.
The ongoing excitement surrounding Bitcoin ETFs and the influx of institutional investors point to a radically different market landscape compared to 2021.
Predictions for the Future
Given that 2021’s conditions were already promising for Ethereum, the potential for ADA to reach $10 during this bull run is not unreasonable. The timing of altcoin peaks typically follows Bitcoin halving events, which occurred in April. Therefore, the window from October this year to October next year could be pivotal.
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The emergence of numerous AI projects within the Cardano ecosystem is seen as a positive sign. The AI market is projected to reach nearly $2 trillion over the next six years, making this trend noteworthy.
The choice of Cardano by these AI projects is viewed favorably, indicating confidence in the platform. Additionally, with over 2,000 projects currently building and thriving on Cardano, the momentum is impressive.
Imagining a scenario where Bitcoin reaches $100,000 or even $150,000 suggests that the upcoming altcoin season could be legendary, especially with the participation of over half a billion crypto owners.
The sky is seen as the limit, and there is a strong belief that Cardano is poised to surprise the world once again. While ADA did not reach $10 in 2021, this time around, it seems plausible. The conviction remains that Cardano is exceptional, and this bull run could be transformative.
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