Here’s Cardano Price if it Captures 113% Ethereum’s Market Cap

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As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of bull runs and market cap captures. However, when it comes to Cardano (ADA) hitting $10 if it captures 113% of Ethereum’s market cap, I must admit that my crystal ball is a bit hazy on this one.

The digital currency Cardano (ADA) has broken through a resistance level that had been trending downwards for three months, suggesting an upward trend could soon commence. If this marks the beginning of a bull run, and if ADA were to capture 113% of Ethereum‘s market capitalization, we might see Cardano’s price soar to that height.

Cardano Price if ADA Capture 113% of Ethereum Market Cap

Cardano, often referred to as a potential rival to Ethereum, experienced an extraordinary surge of approximately 3000% from 2020 to 2021. This surge propelled ADA to an unprecedented peak of $3.101 and pushed its market capitalization to an astounding $95 billion. Given the involvement of institutions, there’s a lot of anticipation for this bull run. If Cardano were to claim 113% of Ethereum’s current market cap, what would its price be?

Let’s break it down; the Cardano price trades at $0.396 with a market capitalization of $14.06 billion and circulating supply of 35.68 billion ADA. If the so-called Ethereum-killer were to capture 113% of Ethereum’s market capitalization, which stands at $315.16 billion, it would put Cardano’s market cap at $356.90 billion. If the circulating supply of Cardano were to remain at $36.68 billion, it would put the price of Cardano at $10. 

To reach a price of $10 for Cardano (ADA), it would require approximately a 25-fold increase, meaning ADA must surge by 25 times its current value. Conversely, from the all-time high ($3.101), the $10 target is roughly a 3.22-fold increase away.

Will Cardano Price Hit $10? 

In 2021, it was quite plausible that Cardano’s (ADA) price might reach $10. However, by September 26, 2024, the probability of ADA reaching $10 is low. Conversely, there’s a strong possibility that ADA could attain $1 within this cycle, requiring approximately a 155% increase from its current price. Given ADA’s status as an established coin, such a surge is not entirely unrealistic.

In contrast to older coins from past cycles, the crypto market often shows a preference for newer coins. For instance, Popcat, a popular meme coin launched in 2024, has seen a significant surge of 130% over the last 20 days. Similarly, another playful cryptocurrency called MOG saw an increase of 117% during the same timeframe. This kind of rapid price growth isn’t unexpected given the relevance and popularity of these assets. As a result, investors with high expectations might want to focus their attention on newer digital currency tokens.

In summary, the prediction suggesting that Cardano’s price could reach $10 by capturing 113% of Ethereum’s market cap appears quite improbable.

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2024-09-26 16:25