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Will ADA outperform Bitcoin? – Charles Hoskinson’s 100x prediction explained
In a recent interview with Blockworks, Cardano founder Charles Hoskinson made a bold claim about the potential future performance of his native cryptocurrency, ADA. According to him, it is possible for ADA to rally 100x or even 1000x in value, potentially outperforming Bitcoin (BTC). This prediction has sent shockwaves throughout the crypto community, with many questioning whether such an outcome is feasible.
For those who may not be familiar, Charles Hoskinson is the co-founder of Ethereum and the creator of Cardano. His words carry significant weight given his experience in the space and the success he has achieved as a pioneer in decentralized technology. So, what does it mean if he thinks ADA can outperform Bitcoin?
According to Hoskinson, the key factor that could lead to such an outcome is the potential integration of ADA with Bitcoin’s DeFi ecosystem. In his words, “ADA could do 100x, or 1000x…We’re not second-class citizens. Cardano does substantially more, and it will end up being the yield layer of Bitcoin DeFi.”
On the surface, this prediction may seem far-fetched to some, but when we look at the data, there are a few points that could support his claim. Firstly, it’s essential to acknowledge that ADA has not always underperformed Bitcoin in terms of price performance. In November last year, ADA actually outperformed BTC by 160%. This may be seen as an anomaly by some, but considering the context at the time, this rally suggests that ADA could potentially follow a similar path.
Another factor that could support Hoskinson’s prediction is the recent increase in capital inflows into the cryptocurrency. According to Santiment data, the realized cap of ADA has increased from $23.4 billion to $23.6 billion over the past week, indicating that investors are still pouring money into the asset despite the current sell-off.
In conclusion, while this prediction may seem overly optimistic, it’s crucial not to ignore the potential catalysts that could drive such an outcome. The integration of ADA with Bitcoin DeFi and historical data both suggest that there is a possibility for ADA to outperform Bitcoin in the future.
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Source: ambcrypto.com
