Crypto firm Cardano is currently battling the SEC over ADA not being a security. The situation does not make Charles Hoskinson, the boss of Cardano, doubt about the potential of the crypto. He sees the latter imposing itself on the crypto market to the point of exceeding in value, bitcoin and ether!
In short
• Charles Hoskinson sees ADA outperforming bitcoin and ether.
• ADA currently has a market capitalization of $9.16 billion, far behind bitcoin and ether.
• Cardano intends to improve the governance structures of Bitcoin and Ethereum to achieve its objectives.
ADA, potential main crypto market?
Charles Hoskinson, the CEO of Cardano, is showing unflinching optimism regarding ADA. The official sees the valuation of the crypto rising to make it the most important asset in the crypto industry.
“I think Cardano will probably become the biggest crypto in the world. I think it will become more than just crypto. I think it will become the backbone of a new digital nation”said Charles Hoskinson.
As a reminder, this leading role in the crypto market is currently assumed by bitcoin (BTC). A crypto that, despite its many setbacks, is currently worth just over $26,000.
Ether (ETH) secondarily assumes this status. This, with a price tag of $1,655. A valuation that is very much higher than that of Cardano’s ADA. The latter is currently valued around $0.26.
It is obvious that Charles Hoskinson projects boldly about the outlook for the ADA. Is the crypto expert dreaming a little too big? He is allowed to be particularly optimistic about the future of the ADA.
For now, the asset seems to be light years away from BTC and ETH. The facts say so. Eighth in the ranking of the most relevant cryptos on the market, ADA has a market capitalization of around $9.16 billion.
Peanuts compared to the $506 billion market capitalization of bitcoin (BTC). A figure that is $198 billion for Ethereum’s ETH. How does Cardano intend to fill and then overcome such a gap?
Cardano bets on improving governance structures
Under the current circumstances, ADA has its work cut out for it to pull off a coup against ETH. Even less the BTC. But Charles Hoskinson has a plan. It consists of perfecting the governance structures of Bitcoin and Ethereum.
According to the boss of Cardano, these would be obsolete. From his point of view, they are unsuited to the current crypto context where neglect of governance structures can increase long-term vulnerabilities.
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