Will Cardano Overtake Ethereum?

Will Cardano Overtake Ethereum?

Cardano has been placed in second place in a new ranking of cryptocurrencies by the DeFi platform, Coin98. This places Cardano behind Ethereum but in front of Polkadot, which is in third place, and Cosmos, which is in fourth place. The ranking sheds information on the growing support for C

 

Cardano, which was formerly known as the "Japanese Ethereum," has been subjected to a significant amount of criticism from industry observers, including being given the term "ghost chain." Cardano, on the other hand, is exhibiting signs that it is still alive after the recent improvements and developments on the blockchain. This is made very clear by the fact that its developer activity is climbing daily.


The recent months have seen an increase in the amount of activities that Cardano's developers have been engaged in, which is evidence of the developer's unwavering drive to developing new products as well as improving and expanding the capabilities of existing ones. As a result, this demonstrates that they are committed to the long-term roadmap of the network.

The consistent ascent in the number of Plutus scripts is another another observable indicator that activity levels are rising across the Cardano ecosystem. At this time, 3,474 Plutus scripts are available for use. While everything was going on, Input Output Global, the company that was responsible for building Cardano, activated the Vasil upgrade on September 22. They then released all of the features of Vasil five days later.

Armstrong asserts that Cardano has the potential to surpass Ethereum.

Ben Armstrong, a controversial crypto YouTuber, has made a big prediction regarding the future of Cardano. This comes at a time when there has been a lot of positive news. On Twitter, he made the bold statement that he believes Cardano will overtake Ethereum in terms of both market valuation and userbase within the next six years at the latest. Cardano may have a market cap that is now rather remarkable at $12.5 billion, but it is still a far cry from Ethereum's market worth of $156 billion.

His prediction garnered both support and criticism, with some overly optimistic members of the Cardano community expressing belief that there was a good chance that such a 'flippening' could happen as Armstrong predicted. Others, on the other hand, were not as optimistic and did not believe that such a 'flippening' could occur. On the other hand, given Armstrong's questionable past within the bitcoin industry, it is difficult to take this prognosis with anything more than a grain of salt.

A different YouTuber recently accused him of sponsoring fake cryptocurrency ventures, prompting him to take legal action against the other YouTuber in response. Because of the situation, Armstrong was forced to endure a significant amount of humiliation. In the end, he abandoned the project in the face of intense opposition from the cryptocurrency community.


Ojike Stella

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