On today’s trading day, Cardano investors have every reason to celebrate. Because the ADA / USD price has climbed to the mark of 2,65 dollars today and has reached a new all-time high. Thus, the altcoin even outstripped the strong trend from May 2021 when ADA/USD had already advanced into the price region of 2.5 dollars.
Cardano with 80 billion dollars ahead of Binance Coin
Cardano has also achieved a significant increase in market capitalization as a result of the price jump. Currently, the altcoin is valued at more than $ 80 billion. Thus, Cardano has now advanced into the top 3 of the most valuable cryptocurrencies in the world, according to current figures from coincodex.com show.
Cardano is now worth about 6 billion dollars more than the Binance coin of the crypto exchange of the same name. On the following XRP coin, the lead is even already stately 25 billion dollars. This puts only the leading currency Bitcoin and altcoin-Primus Ethereum ahead of Cardano, which traditionally occupy the first two places in the crypto ranking.
Bitcoin worth ten times more than Cardano
However, the distances to the top 2 are still huge. Bitcoin is currently valued at around 911 billion dollars and thus has a market capitalization more than ten times as high as Cardano. Ethereum, on the other hand, currently has a market value of around 371 billion dollars and is thus valued even more than 360 percent higher than Ethereum.
Nevertheless, it does not seem impossible that Cardano could also launch an attack on Ethereum in the next few years, provided the strong trend of ADA / USD continues. Because the history of the crypto market shows that actually nothing is impossible.
The best example is the success story of Dogecoin over the past twelve months. The cryptocurrency has risen by almost 9,000 percent and has thus pushed itself out of the niche among the top 10 cryptocurrencies. Of course, the fun token owes its strong development not insignificantly to its great advocate Elon Musk.
Return: 2,000 percent Cardano vs. 315 percent Ethereum
But Cardano also has very impressive growth rates within a year. Thus, Cardano has risen by around 2,000 percent, clearly surpassing both Bitcoin and Ethereum. BTC is on a price increase of about 315 percent during this period, while ETH was able to increase by about 700 percent.
One example illustrates that Cardano is undoubtedly one of the best investments of 2021. Anyone who invested 1,000 euros in Cardano a year ago can now look forward to a return of 20,000 euros.
With hardly any other plant, such a profit could be achieved in the same period. Whether buying Tesla shares or investing in gold, returns are significantly lower. The price of the electrical engineer has “only” increased by about 70 percent over the same period. The 1,000 dollars would have turned into only 1,700 dollars. And gold even lost value in the same period, falling by 7.3 percent year-on-year.
Upgrade Alonzo fuels wave of euphoria
However, the current bull market of the Cardano price is not only due to the good overall development on the crypto market in recent weeks. Because Cardano performs far better than the average of all cryptocurrencies. Even the slight correction of Bitcoin & amp; Co.in the past 24 hours does not seem to curb the euphoria among ADA investors. The price increased by another 5 percent compared to the previous day.
The course is supported by the anticipation of the upcoming upgrade with the name Alonzo. It is intended to enable smart contracts in the Cardano network.
Technologically, Cardano currently seems to be at least one step ahead of Ethereum. Because at Cardano, the proof-of-stake procedure is already established as a consensus mechanism for transactions, while the Ethereum community is eagerly waiting for the complete transition to Ethereum 2.0.
Cardano technologically one step ahead of Ethereum
Cardano currently has a clear scaling advantage and scores in terms of speed with a throughput of more than 250 transactions per second, while Ethereum only comes to a value of around 15 transactions per second.
In the long term, however, Cardano promises its users even better speeds. Thanks to the second-layer solution Hydra, a value of up to one million transactions per second should be possible. Ethereum’s goals, on the other hand, are set lower. 100,000 Transactions per second should be realistic thanks to various scaling solutions.
Even if Cardano currently seems a step ahead technologically and the supporters of the project already dream that the network could replace Ethereum as the number 1 in the field of decentralized finance platform, one should not underestimate Ethereum.
For example, the Ethereum Foundation has announced that it will connect the Ethereum Mainnet to the beacon chain later this year. This means that the switch to the proof-of-stake consensus mechanism will also take place in 2021.
Analysts trust ADA / USD 20 dollar
In technological terms, Ethereum could soon be back on par with Cardano. But what about the price forecast? Who has the better cards for the future?
Coin Price Forecast is extremely bullish on the price trend of ADA / USD. The analysts expect a year-end price for 2021 of just under 50 euros. This would almost double the current level.
For 2025, market watchers already expect an ADA / USD price of more than $ 10 per token. Continuous growth is also expected for the following years. In the long term, the analysts even believe that a price of around 20 dollars by 2033 is possible. This corresponds to an increase of more than 600 percent at current prices.
Analysts: Ethereum and Cardano Extremely Bullish
The price forecast for Ethereum in this period is also very positive, but slightly lags behind the assessment for Cardano. For example, analysts predict a year-end price for ETH/USD of $ 5,300. Around 70 percent more than currently. By 2033, a price target of just under $ 20,000 will be issued, an increase from the current level of 530 percent.
The forecast for the next 5 years of Wallet Investor for the Cardano rate foresees a price target of around 11 dollars. That would equate to growth of more than 330 percent. The price target for Ethereum, however, is around $ 14,000 by 2026.With around 345 percent growth, ETH is even slightly ahead in the analysts ‘ assessment.
Overall, both Ethereum and Cardano seem very good investments for the next few years. A clear favorite can not be identified, even if the current trend Cardano sees slightly stronger.