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According to Charles Hoskinson, Cardano will surpass competitors Bitcoin and Ethereum to become the world's largest cryptocurrency
According to Charles Hoskinson, it is anticipated that Cardano will surpass its competitors, namely Bitcoin and Ethereum, and emerge as the leading cryptocurrency globally
Charles Hoskinson commented on recent developments in Cardano and that the project is on its way to beat competitors Bitcoin and Ethereum.
Hoskinson believes Cardano is likely to become the world’s largest cryptocurrency with its governance model and decentralization.
ADA price is currently in a downward trend that started in mid-April and the altcoin is at support at $0.2589.
Cardano developer Charles Hoskinson, an American entrepreneur, offered his thoughts on the cryptocurrency. The author of the Ethereum-alternative believes that due to widespread acceptance, the token will likely outperform competitors Bitcoin and Ethereum in terms of market capitalization.
Hoskinson's words have failed to spark a rally in the altcoin, and the price of ADA is currently at $0.2589.
Cardano, according to Charles Hoskinson, can outperform competitors.
Cardano's competitors in the crypto ecosystem, Bitcoin and Ethereum, have the highest market capitalizations. Hoskinson spoke at the blockchain convention Rare Evo 2023, where he discussed recent Cardano improvements.
During his address, Hoskinson stated that Cardano will most likely become the world's largest cryptocurrency. Hoskinson ascribed the project's sustainability, scalability, and interoperability to distinguishing it from the method followed by blockchains such as Bitcoin and Ethereum.
Cardano's Alonzo upgrade, which was released recently, drives smart contracts on the altcoin's blockchain and promotes dApps and DeFi projects and their development in the ADA ecosystem. Cardano's utility and potential market reach are thus driving factors that can outperform Bitcoin, Ethereum, and other projects in the ecosystem.
At the time of writing, the ADA price is falling and trading at $0.2589. The altcoin is trading below its three long-term EMAs of 10,50 and 200-day at $0.2665, $0.2890, and $0.3344.
Hoskinson's comments did not work as a bullish stimulus for the ADA price, and it remains to be seen whether the cryptocurrency will begin to rebound from its recent decline.
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