Cardano (ADA) will Surpass Bitcoin (BTC) and Ethereum (ETH), Says Charles Hoskinson
Charles Hoskinson, the founder of Cardano blockchain and head of IOG has recently issued more statements about the native token ADA. He was attending the event called Rare Evo Blockchain.
During the event, he addressed the attendants and claimed that ADA is going to surpass Bitcoin and Ethereum. He highlighted that the Total Value Locked (TVL) for ADA has increased by 200% despite the ongoing downturn in the crypto markets.
Furthermore, he also cited the increased transaction volume for ADA as a bullish development for the blockchain. He mentioned the positive reviews shared by Messari in a latest report.
The firm is a crypto market intelligence forum and Cardano founder cited that at a positive development for the ecosystem. Hoskison maintained that Cardano is a blockchain network that has continued to add new updates.
Cardano Founder Says ADA has Low Volatility
Cardano founder maintained that ADA does not have the same price volatility as the remainder of the crypto sector. He retained that the token does not undergo a massive volatility during bullish changes.
The developer maintained that the lack of considerable volatility does not indicate ideal growth for the currency. The statement was analyzed by other experts in the sector who compared the development in Cardano with Ethereum since 2021.
The analysts said that ADA has been racing against ETH to record another ATH. The analysis concluded that if ADA underwent the same ratio of development as ETH, its market cap would be standing at $570 billion rather than current $9.13 billion evaluation. It leaves the room for 62 fold additional appreciation.
For Cardano coin to reach the $570 billion evaluation, per unit cost for ADA has to be around $16.12. As per the analyst, this is an uphill feat to achieve.
Hoskinson has remained steadfast regarding his prediction of making ADA the biggest cryptocurrency in the world. The analysts who projected the $16.13 per unit projection for ADA is a YouTube channel operating under the title of Altcoin Daily.
The analysis reveals the massive amount of work ADA community has to put in order to level with the claims to dethrone other cryptocurrencies.
At the same time, Hoskinson has call upon crypto projects to trust and collaborate with each other. Additionally, the he has talked about the importance of putting together a community that is not evil.
The ADA community is currently looking at the Voltaire upgrade that will bring more decentralization to the project. Meanwhile, Binance Liquid Swap which is a centralized trading forum has decided to remove liquidity pools for ADA and Pepe coin.
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