- In his speech, Hoskinson predicted that Cardano will surpass Bitcoin and Ethereum to become the world’s largest cryptocurrency.
- Despite Cardano’s valuation being far behind Bitcoin and Ethereum, Hoskinson still believes that ADA will eventually become the world’s largest cryptocurrency.
- According to Hoskinson, the inefficient management models of market leaders – Bitcoin and Ethereum – can help Cardano surpass them in the long run.
Cardano’s founder Charles Hoskinson made an interesting prediction in addition to predicting that ADA token will surpass BTC and ETH.
Charles Hoskinson’s Bold ADA Predictions
Charles Hoskinson, CEO of Input Output Global (IOG) and founder of Cardano, made bold predictions for the leading blockchain Cardano. In his speech, Hoskinson predicted that Cardano will surpass Bitcoin and Ethereum to become the world’s largest cryptocurrency.
According to Hoskinson, Cardano will achieve this great success in the future due to its decentralized decision-making and on-chain governance commitment. Hoskinson said the following;
“This is a challenging task for us, and that’s why I think Cardano will probably be the world’s largest cryptocurrency.”
It is important to note that Cardano is far behind Bitcoin and Ethereum in terms of market value. As of writing, Cardano is ranked as the 7th largest cryptocurrency with a market value of $9.08 billion.
In contrast, Bitcoin and Ethereum stand as the first and second largest cryptocurrencies with market values of $506.21 billion and $198.07 billion, respectively. Despite Cardano’s valuation being far behind Bitcoin and Ethereum, Hoskinson still believes that ADA will eventually become the world’s largest cryptocurrency.
According to Hoskinson, the inefficient management models of market leaders – Bitcoin and Ethereum – can help Cardano surpass them in the long run. Hoskinson pointed out that Bitcoin’s weakness may come from its static design. In particular, the world’s largest cryptocurrency has not changed its design for 13 years.
Furthermore, Hoskinson stated that Ethereum’s rejection of on-chain governance could become a long-term problem, especially as it accumulates millions of users.
Other predictions by Hoskinson
In addition, Hoskinson also predicted that Cardano could be more than just a cryptocurrency in the future, and he said the following;
“I think Cardano will be the backbone of a new digital nation, a new community – a place where we can start trusting each other again, transitioning from ‘can’t be bad’ to ‘can’t be bad’.”
Meanwhile, Cardano’s native token ADA is trading at $0.2593 with a 1.3% decrease in the last 24 hours. The cryptocurrency has been experiencing continuous declines since May 2023. As previously reported, it is likely that ADA will experience further declines as a recent chart shows that ADA is mimicking its 2019 price movements.
