- Analysts state that a gain of four times the current price and market capitalization would bring Cardano neck and neck with Ethereum.
- Crypto Twitter is abuzz with the possibility of Cardano flipping Ethereum to become the second-largest cryptocurrency.
- A cryptocurrency analyst and entrepreneur, Tai Zen, states that the time taken by Cardano for going from $5 to $10 will be shorter than the time taken to go to $5.
Ahead of the Alonzo hard fork and the launch of smart contract functionality on Cardano, the altcoin’s market capitalization has increased to $92.4 billion. It has replaced BNB as the third-largest cryptocurrency.
Cardano expected to flip Ethereum with 4x rally
Cardano’s market capitalization has increased by over 187% in nearly 30 days. Analysts expect the proof-of-stake blockchain network to surpass Ethereum’s market cap if ADA continues rallying consistently. Independent analyst and YouTube content creator Lark Davis has set a realistic price target of 4x for ADA.
So what is a realistic price target for Cardano long term, say end of the decade?
Well a 4X pump would put ADA at the same market cap as Ethereum now = $10 per ADA
10X pump would give ADA same market cap as BTC now = $28 per ada
— Lark Davis (@TheCryptoLark) August 24, 2021