Cardano (ADA) has breached a three-month down-trending resistance level, signaling that an uptrend is about to kickstart. If this is the start of the bull run, how high can Cardano price hit if it captures 113% of Ethereum’s market cap?
Cardano Price if ADA Capture 113% of Ethereum Market Cap
Cardano, also known as the Ethereum-killer, shot up nearly 3000% between 2020 and 2021. This rally caused ADA to hit an all-time high of $3.101 with market capitalization reaching a staggering $95 billion. With the entry of institutions, this bull run has high expectations, so, what would cardano price be if it captured 113% of Ethereum’s market cap??
Let’s break it down; the Cardano price trades at $0.396 with a market capitalization of $14.06 billion and circulating supply of 35.68 billion ADA. If the so-called Ethereum-killer were to capture 113% of Ethereum’s market capitalization, which stands at $315.16 billion, it would put Cardano’s market cap at $356.90 billion. If the circulating supply of Cardano were to remain at $36.68 billion, it would put the price of Cardano at $10.
From Cardano’s current price, the $10 target is roughly 25 times higher, ie., ADA needs to pull a 25x to hit the $10 target. However, from the ATH of $3.101, the $10 per ADA target is 3.22x away.
Will Cardano Price Hit $10?
If the same question was posed in 2021, the chances for Cardano price to hit $10 were pretty good. As of September 26, 2024, the chances are slim for ADA to hit $10. On the other hand, there is a good chance ADA price could reach $1 during this cycle. To achieve $1, Cardano price would need to rally 155% from the current price, which is not unlikely of old coins such as ADA.
The crypto market tends to prefer newer coins as opposed to coins of the previous cycles. Popcat, for example, a top meme coin that was birthed in 2024, ran up 130% in the past 20 days. Another fun-themed crypto MOG also shot up 117% in 20 days. Such a price action wouldn’t be surprising considering the relevance of the asset. Therefore, investors that have high expectations need to turn their heads toward newer cryptocurrency tokens.
To conclude, this Cardano price prediction that expects ADA to hit $10 if it captures 113% of Ethereum’s market capitalization is highly unlikely.
The post Here’s Cardano Price if it Captures 113% Ethereum’s Market Cap appeared first on CoinGape.
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Cardano’s recent breach of the down-trending resistance is promising; it could be the start of a new bullish phase!”
“If ADA captures 113% of Ethereum’s market cap, hitting $10 seems ambitious, but it’s exciting to speculate on potential growth!”
“A 25x increase to reach $10 is a tall order; however, achieving $1 seems more feasible based on current market trends.”
“The comparison between ADA and newer coins like Popcat and MOG is insightful; it highlights the shifting investor preferences.”
“Institutions entering the market could significantly impact Cardano’s price; it will be interesting to see how this unfolds.”
“It’s crucial for investors to manage expectations; while ADA has great potential, the path to $10 is uncertain.”
“With Cardano’s past performance in mind, I’m curious to see how it adapts in the current crypto landscape!”
“The analysis of ADA’s market cap against Ethereum offers valuable insights; I’ll be watching closely as this bull run develops.
Cardano breaking the down-trending resistance is definitely promising, could we be witnessing the start of the next major bull run?”
“A $10 target if Cardano captures 113% of Ethereum’s market cap is ambitious, but it’s exciting to think about its potential!”
“Hitting $10 might be tough, but a 155% rally to reach $1 in this cycle seems much more realistic for ADA.”
“Interesting comparison between ADA and new coins like Popcat and MOG. Shows how the market is shifting toward newer tokens!”
“The entry of institutions could be a game-changer for Cardano’s price, boosting its chances of significant growth!”
“It’s important to stay grounded—while Cardano has potential, the path to $10 isn’t guaranteed, but I’m optimistic about $1.”
“Given ADA’s performance in the past, it will be fascinating to see how it evolves in this new market environment!”
“Great analysis on ADA’s market cap compared to Ethereum—it’ll be exciting to watch how the market responds in this bull run.