Cardano co-founder, Charles Hoskinson, has made a bold proclamation, stating that Cardano will surpass Bitcoin and Ethereum within the next decade. Speaking at the Cardano Summit in Argentina, Hoskinson emphasized that the team is more focused on building an efficient and dedicated community rather than engaging in aggressive marketing tactics.
Cardano (ADA) has experienced a bullish trend on all fronts, particularly in its social media activities. According to data from Messari, Cardano gained 2000 net followers on X in October, bringing its overall follower count to 823,870. This is a positive development as the project had seen a decline in followers from 836,000 in March to below 822,000 in September. However, Rick McCracken, a prominent Cardano stakeholder with over 200 million ADA tokens, believes that the project lacks an aggressive marketing strategy.
McCracken’s claim against Cardano and Hoskinson’s position highlights the fact that several other projects in the market have overshadowed Cardano, despite its current position as the eleventh largest cryptocurrency. Nevertheless, Charles Hoskinson remains confident that Cardano has the potential to surpass both Bitcoin and Ethereum in the next decade. This daring prediction was made at the recently concluded Cardano Summit in Argentina.
To put this claim into perspective, analysts point out that Hoskinson’s prediction implies that the market cap of ADA could reach trillions of dollars, surpassing the price of ETH and BTC. Hoskinson’s assertion is based on the belief that Cardano is technically superior to the top two crypto projects, especially with the implementation of its decentralized governance model and the remarkable items on its roadmaps.
Hoskinson further elaborated on this, explaining that Cardano has the capabilities to address all problems. This is why the team focuses on building a more efficient community rather than relying solely on marketing efforts. During the recent event, Hoskinson clarified that the team’s focus is on long-term sustainability rather than short-term success.
Taking a dig at venture capital funds, Hoskinson highlighted that these projects contradict the very essence of blockchain technology as they are centralized. His confidence is bolstered by the upcoming Voltaire era, which is expected to introduce on-chain governance. At the Summit, Hoskinson emphasized that this fully decentralized governance structure will enable Cardano to quickly adapt and resolve issues without third-party involvement.
Prior to these claims, Hoskinson had previously declared Cardano as the number one blockchain in the industry. Giorgio Zinetti, the CTO of the Cardano Foundation, also expressed agreement with Hoskinson, stating that Tezos and Polkadot are smaller chains that already have on-chain governance.
At present, ADA is trading at $0.36, experiencing a 2.8% surge in the last 24 hours. However, the asset remains down by 41% from the year-to-date.