Cardano continues to grow with each passing day, and the numbers seem to go beyond simple price promotions and trading volumes. In fact, both the growing user base and increasing individual participation underscore the growth of cryptocurrency. Ergo the question – how big can Cardano really get? How much is the ADA likely to rise? Will it possibly be the first choice over Ethereum?
Cardano for $ 15?
Well, this is a prediction based on more than just speculation. As explained in the latest video from Crypto Capital Venture, that number is not impossible as Cardano’s market cap could potentially increase 10 times, a development that would put the altcoin’s value at $ 15. The above video added
“It is much more realistic that Cardano will reach a market cap of 10x to around $ 500 billion before Ethereum 10x hits the market cap of nearly $ 3 trillion”
There are some good points to support this claim. For example, consider the increase in staking on the Cardano blockchain. Almost $ 31 billion in ADA has already been staked. At the time of going to press this was 71.6% of the total ADA offering. In addition, addresses with staked addresses have increased 11% in just one month to total 680,701.
Cardano’s price action appeared to mimic these fundamentals as well. According to Crypto Capital Ventures, the altcoin still appears to be in the middle of a bull market. In fact, Cardano’s move on the daily chart seemed very similar to Ethereum’s June 2017 bull market.
ADA imitates ETH
At that time, ETH had fallen by 69% and was still able to increase. Another important indicator of the bull market was the 20-day moving average. During the ETH’s bull market, the 20 DMA (green line) crossed the 50 DMA (blue line). In less than a month, however, it exceeded the 50 DMA again and the price of Ethereum rose in the future.
Right now, Cardano appears to be in a similar phase as all fingers agree with ADA’s uptrend. Given on-chain data, metrics, and indicators, a potential bull market seems like a possibility. Additionally, Crypto Capital Ventures described Cardano’s performance on Bitcoin and Ethereum by saying:
“In my opinion, Cardano is preparing to dominate the ADA / ETH chart and it will also dominate the ADA / BTC chart.”
This bull market alone drove the price of ADA up nearly 14,000% as even institutional interest appears to be rising. In fact, Grayscale recently announced that it would add Cardano to its portfolios, just behind Bitcoin and Ethereum.
That says a lot about Cardano and its future, but time will tell how much of it will become a reality.