Whale landfills have occurred with Cardano, probably due to a market correction after its strong performance or concerns about its scalability and adoption rates.
Will
Cardano reach $10? Statistical analysis
Now, let’s take a look at how long it took Ethereum to go from market capitalization of $18 billion to $333 billion. It took Ethereum 4 years to reach $333 from $18 billion. Why will it be longer?
It’s been difficult for Cardano so far, but it’s been the same with its competitors, Solana and Ethereum.
The cryptocurrency market has crashed in a massive way and this has affected all major cryptocurrencies and even altcoins. Cardano has lost more than 65% of its value in the last 12 months. Compared to ADA, Ethereum has fallen by about 36% since January 2022
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One of the main reasons for Cardano’s difficult journey this year is because of a large number of competitors (such as Solana or AVAX). Cardano has a much more difficult task than earning a share even if its growth remains high. This year, for example, Cardano underperformed Ethereum and is on a par with Solana. So, unlike Ethereum, which had 2-3 main competitors such as Litecoin and Ripple, Cardano has to deal with Ethereum itself, which has responded to every Cardano update or innovation with an update itself. So Cardano could grow, but it’s unlikely to gain shares from the market leader Ethereum. So 30% per year is an estimate of fair growth for Cardano
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At 30% per annum, it will take 13 years for Cardano to reach $10
Cardano Forecast: Will Cardano Reach $50?
To reach $50, ADA will need to increase 130 times. At $50, Cardano’s market capitalization would be $1.7 trillion. If Cardano were to increase by 30% every year, it would take 19 years to reach $50. It is not practical to make forecasts for these types of periods.
