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