Last month, Cardano price showed its resilience by staying afloat by 8% when the entire market plummeted. Its price is no longer determined by Bitcoin’s trajectory. ADA has increased 41.5 times in a year, giving investors a return of 1153%.
The altcoin has earned its place in the top 10 tokens by market cap. It is now the world’s largest proof of stake validation blockchain. It’s been said Cardano can achieve what Bitcoin and Ethereum can’t due to their rigidity and heavy congestion + fees respectively.
Some bullish predictions have been made for Cardano by the algorithm-based forecasting site Wallet. The predictions state ADA price will rise above $2 by the end of June, above $2.86 by December, and $4.25 by the end of 2022. Eventually, by 2025 it will be at $8.43.
Why will Cardano succeed?
Peer to Peer Payment – ADA is ideal for transactions as its settling is efficient. It is also a green token as it uses a proof of stake consensus mechanism.
Cardano X Cuban – Hoskinson has recently revealed Cardano is in contact with Cuban over an MOU for an NFT marketplace Cuban is set to develop.
Market Liquidity – ADA has a very liquid market with a market cap of more than $40 Million. This hints that its prices are less prone to sudden high volatility.
Lightweight Architecture – To bring it at par with Ethereum, the launch of Mary has been made which allows it to do more than just retain ADA. It enables the creation and trade of other tokens too.
Growing Popularity – Right from its introduction to Bloomberg and Coinbase, its popularity is ever increasing. ADA is widely available for trade and Exchanges have reported that users trading Cardano have grown significantly.
Increasing Use Cases – Cardano has been using its blockchain to help solve problems in third-world countries. They aim to bring various countries’ data on the blockchain to make it secure and tamper-proof.
Now let’s address the elephant in the room,
Will Cardano, win the race against Ethereum?
In fact, Cardano is a new blockchain aiming to solve unaddressed problems. It is capable of providing what Ethereum does for way less fee and charges. It is also not congested and slow like ETH is. Hence, it is only wise for retail users to use Cardano.
While Ethereum has 115% Year to date growth, Cardano has achieved 517% Year date growth. All of this is a clear indication that if Cardano grows at the pace it is currently growing it will surely be at par with Ethereum, perhaps even beat to it.