ADA Continues to Grow, While ETH Remains Somewhat Stagnant

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  • Dan Gambardello uploaded his latest ADA analysis to YouTube earlier today.
  • The trader predicted that ADA would eventually surpass ETH as the altcoin leader.
  • Both of the Layer-1 cryptos printed gains over the last 24 hours.

The crypto trader and analyst Dan Gambardello shared his latest analysis for Cardano (ADA) in a YouTube video earlier today. In the video, he noted that the Cardano network continues to grow despite the current consolidation phase. In addition to this, the trader predicted that ADA would eventually overtake Ethereum (ETH) as the leading altcoin.

One of the key indications of the network’s continued growth in the past few weeks was the high level of development activity surrounding the project. Gambardello highlighted that Cardano was ranked 3rd in terms of the number of notable GitHub commits over the last 30 days. In this regard, ADA outperformed ETH, which was ranked 10th on the list.

Another aspect of Cardano that has experienced growth recently is its Total Value Locked (TVL). The trader noted that this on-chain metric had seen exponential growth throughout the past few weeks, which led him to predict that a new all-time high (ATH) may be set before the next bull run.

From a technical perspective, Gambardello forecasted continued consolidation for ADA’s price for the next few weeks. He added that the months ahead might be turbulent for the altcoin’s price as the Bitcoin (BTC) halving edges closer. During this potentially volatile period, he believes ADA’s price may retest the $0.32 mark.

At press time, CoinMarketCap indicated that ADA was changing hands at $0.3718 after it had printed a 1.95% gain over the last 24 hours. Meanwhile, ETH’s price had increased by 1.89% during this period and stood at $1,888.67 as a result. Both of the altcoins’ weekly performances were in the green as well.

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