This website uses cookies to ensure you get the best experience on our website

Blog

Cardano to Replace Ethereum and Binance Smart Chain, ADA to reach $2

Date:

15th Apr 2021

Author:

Dalmas Ngetich, for CryptoAltum News Team

The next-gen Cardano platform will replace Ethereum and Binance Smart Chain (BSC), supporters maintain. The explanations being Ethereum is clunky and BSC's centralized nature. Even at spot rates, ADA/USD is undervalued. The next fair value, they add, is a breakout that will lift the ADA price above $2 in a trend continuation pattern.

Details:

Developers of Cardano, IOHK, assert that the platform is a vast improvement of Ethereum and even more decentralized than Bitcoin. Presently, Ethereum and BSC dominate. The latter has centralization concerns while Ethereum, as it builds, plans to add Layer-2 options. However, some analysts are skeptical, saying Sharding—central to Eth2, is too complex to pull off in decentralized systems.

Impact on ADA Price:

Bullish. Cardano is preparing to release several announcements relating to progress in Africa. At the same time, the network is readying for DeFi and smart contracting. These and more combine to build a convincing bullish case for ADA.

More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18.