A veteran crypto analyst has shared more details about an altcoin he expects to dethrone Ethereum (ETH) in the long run.
Popular analyst predicted when Ethereum will be in 3rd place
Comparisons like Cardano and Ethereum have become a routine for leaderboards. Similar to Ethereum preparing to migrate to Ethereum 2.0 with the Merge upgrade, Cardano is one of the popular PoS Blockchains. As a result, it is natural to compare which project might be more successful in the future. In broader terms, Ethereum sits just behind Bitcoin (BTC) at the top of the ladder. As measured by market cap, Cardano (ADA) currently ranks eighth.
Ben Armstrong says the leading altcoin project will change on this date
The top 20 rankings have undergone significant changes in recent years due to new players and the failure of some projects. Tether (USDT) and USDC rank third and fourth respectively, increasing the popularity of stablecoins. In this context, crypto analyst Ben Armstrong thinks Cardano will gain significant volume in 6-10 years. According to the analyst, Ethereum (ETH) will lose its market share and user base to Cardano (ADA):
I firmly believe that Cardano will surpass Ethereum at some point in terms of market cap and users. Ironically, the slow roadmap for full ETH 2.0 will be the Achilles’ Heel, although it won’t happen anytime soon. Time range: 6 to 10 years.
I officially now believe that Cardano will eventually pass Ethereum in market cap & users.
It won’t be soon, but ironically, the slow roadmap for full ETH 2.0 rollout will be the Achilles Heel.
Timeline: 6-10 years.$ADA
— Ben Armstrong (@Bitboy_Crypto) October 15, 2022
Ethereum’s market cap is currently $157 billion. Cardano is worth $12.58 billion. By comparison, ETH’s market cap is currently 13 times greater than ADA.
Cardano (ADA) trades in a decisive price range
During the current bear market cycle, one of the most volatile cryptocurrencies was ADA. The recent struggles of the crypto market have also become fierce with back-to-back failures on the macro scene. The current state of the global economy is causing numerous negative pressures on the market. Meanwhile, crypto analysts like Michael van de Poppe are predicting a price increase for Cardano. He claimed that the current price represents a very solid opportunity for investors to go long on ADA.
Analysts, on the other hand, believe that ETH should reach a crucial support level in the $1,450 range. Popular crypto analyst Rekt Capital, which you follow on Kriptokoin.com, predicted in a tweet on October 14 that turning $1,450 into support would only confirm a bullish rally for Ethereum.
Ethereum experienced a 10% rebound after the September CPI announcement, rising from $1,209 to $1,339. The recovery in exchanges and Bitcoin price resulted in a rebound in the broader crypto market. ETH price also rose and it is currently trading above $1,300.
40826
