- Charles Hoskinson predicts ADA will become the world’s biggest cryptocurrency.
- Hoskinson said Cardano is currently the number one blockchain in development activity.
- Cardano’s TVL grew by over 200% despite the downturn in the cryptocurrency market
Charles Hoskinson, Cardano founder, predicts that the blockchain platfoFrm’s cryptocurrency, ADA, will surpass Bitcoin and Ethereum to become the biggest cryptocurrency in the world. Hoskinson predicted the Rare Evo blockchain event and said his product is currently the number one blockchain in development activity.
Hoskinson told the listening audience at the blockchain event that Cardano’s Total Value Locked (TVL) grew by over 200% despite the downturn in the cryptocurrency market. He mentioned the growing ADA transaction volume as one of the positive factors developing with the Cardano ecosystem. According to Hoskinson, getting positive reviews from Messari, the crypto market intelligence platform, is a notable development.
In Hoskinson’s opinion, Cardano symbolizes a growing ecosystem with a continuous, relentless pursuit of perfection. He detaches Cardano’s growth from the characteristic volatility of the overall crypto market, especially during bull runs. To Hoskinson, that is not a reflection of ideal growth.
Analyzing Hoskinson’s speech on the Crypto YouTube channel, Altcoin Daily, the host acknowledged the achievements enumerated by the cryptocurrency’s founder. He compared Cardano’s growth with Ethereum, assuming that ADA could match Ethereum’s growth as of 2021 when the flagship altcoin reached an all-time high (ATH).
According to the host, if Cardano’s market cap were to match that of Ethereum at its peak, that would bring it to $570 billion. Compared to Cardano’s current market cap of $9.13 billion, which is a multiple of about 62, a Cardano market cap of $570 would potentially put ADA’s price at $16.12. The host thinks that is an enormous task.
Despite the size of the potential achievement, Hoskinson was adamant about his prediction. According to him, the Cardano community is united because there is a need for a better way of trusting each other. Among other claims, he explained that the community aims to develop an institution that can’t be evil.
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