Ethereum has created lots of media buzz ever since the network underwent the London upgrade. Ether's price has skyrocketed from under $2k to over $3k. While the majority of the crypto market is currently in the green, it appears that Ethereum is gaining a lot of recognition.
ETHUSD Chart by TradingView
ETH‘s recent price spike has led some crypto fans to opine that it could be on a path to toppling Bitcoin. According to commentaries by market pundits, ETH could surpass Bitcoin’s market cap before the end of this year. However, while these enthusiasts seem to be super bullish on ETH, they have an even more pronounced outlook about Cardano.
ADA: The Sleeping Giant
Cardano has been one of the most prolific blockchain networks expanding by huge bounds of late. A few months ago, the Cardano network underwent an upgrade to initiate its transition for smart contracts. Another upgrade to expand this capability, along with DeFi, is expected in a few weeks time.
ADA, which is Cardano's native crypto, has seen some serious gains over the past few days. In a week, the price rose from around $1.20 to the current range of around $2.17. A quick look at its market data shows that ADA has had a 48% price increase over the last 7 days.
ADAUSD Chart by TradingView
Interestingly, a lot of people are now boarding the Cardano train. That's especially notable considering that the network has been ignored by many for years with analysts now calling it a “sleeping giant” that has finally stirred.
Ousting Ether
Apparently, it‘s possible that Cardano will be giving Ethereum a hard time in the coming future. For one, Cardano’s development follows a rather slow but sure strategy that completely evolves the system every time it undergoes an upgrade. Also, Cardano's claim to making efforts to decentralize the internet is winning many gallantries and notes into its camp. Some developers are already ditching other blockchains to build on the Cardano system.
At the moment, Cardano sits at position 4 in the charts, with only Binance Coin (BNB) between it and Ethereum which is at position 2. At the current growth rate, it‘s only a matter of time before Cardano topples BNB and sets sight on ETH’s position. There's already some chatter in the crypto community that ADA will eventually beat ETH in terms of total market valuation.