This year, Cardano’s Vasil Hard Fork upgrade and Ethereum’s Merge event have been an emerging transition for the entire crypto space. Investors got more attracted to the market due to these most anticipated events.
While the crypto winter is trying to fade away this hype, several cryptocurrencies have maintained their legacy to be in the top positions, where altcoins like Cardano climbed a long way to be a tough competitor to Ethereum in terms of market capitalization.
Cardano Vs. Ethereum: Start Of A New Era
Cardano Vs. Ethereum is an edge-to-edge fight as both works on the proof-of-stake (PoS) consensus mechanism. However, Ethereum is currently sitting at the top of its league after Bitcoin. Still, Cardano is not far behind as it is silently getting an inch closer and has already made itself into the top eight in terms of market capitalization.
The past few years have seen a significant change in the list of top 20 cryptocurrencies, where some new crypto projects have replaced the previous ones. The exponential growth of stablecoins like USDT or USDC has completely changed the crypto landscape throughout the years. It is anticipated that the list will drastically change in the near future following ongoing developments in crypto projects.
According to a popular crypto influencer, Ben Armstrong, Cardano is projected to surpass Ethereum in terms of market capitalization in the next six to ten years based on the market’s current favorability and crypto’s adoption.
Elaborating on this, Ben said, “I officially now believe that Cardano will eventually pass Ethereum in market cap and users. It won’t be soon, but ironically, the slow roadmap for full ETH 2.0 rollout will be the Achilles Heel. Timeline: 6-10 years.”
Even Cardano founder Charles Hoskinson believes that Ethereum could witness a liquidity crisis soon as he stated,
“Ethereum is the Hotel California of cryptocurrencies. You can check-in, but you can’t check out. You’ll have less and less Ether trading in the marketplace. And then what will ultimately happen is you’ll have a liquidity crisis where a lot of volatility comes in.”
Cardano Is On The Verge
ADA is one of the highly volatile digital assets in the crypto market, and it once became a messiah for bringing astronomical returns. However, the continuity of negative news from the US stock market and global economic factors have caused turmoil in the crypto market that barred ADA from showing its real potential.
However, another prominent crypto strategist, Michael van de Poppe, believes that ADA has the potential to be a game changer among other cryptocurrencies, and the current price of ADA has lured investors enough to invest in it.
According to CoinMarketCap, Ethereum’s current market capitalization is $156 billion, far below its trillion-dollar market cap during the bull run. At the same time, ADA’s market cap is $12.54 billion, which is 13 times lower than ETH’s market cap.
As Cardano has a smooth journey ahead where Ethereum is facing a liquidity crisis, it is expected that this ‘Japanese Ethereum’ will shortly touch the range of trillion dollars market cap, surpassing Ethereum. Ben Armstrong’s prediction looks optimistic as the ADA community believes such flipping for ADA is possible in the long term.
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Source: https://coinpedia.org/altcoin/analyst-predicts-when-cardanos-market-cap-will-surpass-ethereum-heres-the-timeline/