Cardano Founder Takes a Swipe at Solana’s Network Value
A recent comparison was made between Solana (SOL) and Cardano (ADA), prompting Cardano founder Charles Hoskinson to throw what seemed like a subtle jab at the Solana network. The comparison arose when a Twitter user asked Hoskinson about when ADA would hit $1, noting that SOL had reclaimed $140. In response, Hoskinson stated that the price increase does not necessarily indicate a good ecosystem or real network value. This statement has caught the attention of the crypto community, as it suggests that Hoskinson believes Solana lacks real network value despite having a good ecosystem.
Hoskinson’s comment is not the first time he has criticized Solana and questioned its capabilities. In February, when Solana experienced an outage, Hoskinson jokingly suggested that the developers should shut down and restart the network to fix it. He also previously criticized the Solana ecosystem for spending millions of dollars on marketing.
Despite Hoskinson’s reservations about Solana, comparisons between Solana and ADA are likely to continue, especially if crypto analyst Chris O’s prediction comes true. O predicted that both tokens would compete for the position of the third-largest cryptocurrency by market cap, with their rankings flipping back and forth.
Currently, ADA is ranked eighth by market cap, while SOL holds the fifth position. However, ADA faces competition from other cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB), which have outperformed it recently.
Will ADA Reach a New All-Time High?
Hoskinson was also asked whether he believes ADA will reach a new all-time high (ATH) in this bull run, but he did not provide a response. While Hoskinson remains tight-lipped about ADA’s future trajectory, analysts have differing opinions on where the token is headed.
ADA maximalists like Dan Gambardello, the founder of Crypto Capital Venture, continue to offer bullish price predictions for ADA. Gambardello believes that ADA could rise as high as $11 in the next bull run, surpassing its current ATH of $3.
However, reports from AlphaQuest Research and K33 suggest that ADA may go to zero, and investors would be better off selling their tokens rather than waiting for significant gains that may never materialize.
As of now, ADA is trading at $0.7334, experiencing a decline in the last 24 hours according to data from CoinMarketCap.
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