Insights on Cardano (ADA) from Crypto Influencer Dan Gambardello
Dan Gambardello, the founder of Crypto Capital Venture and a prominent crypto influencer, recently shared his thoughts on Cardano (ADA) in a detailed video. He discussed Cardano’s market position, technological advancements, and compared it to Ethereum, highlighting why he believes Cardano is a strong contender in the crypto industry.
Cardano’s Resilient Market Position
Gambardello emphasized that despite market volatility, Cardano has managed to maintain its position as one of the top five cryptocurrencies. He noted that Cardano is well-prepared for the next bull cycle and has remained resilient even during bearish sentiment.
Market Cycles: Cardano vs. Ethereum
Gambardello drew parallels between the market cycles of Cardano and Ethereum. He pointed out that both cryptocurrencies experienced similar first bull markets, with Ethereum reaching a $125 billion market cap and Cardano close behind at $93 billion. Additionally, both coins saw significant drops during their bear markets, with Ethereum falling around 94% and Cardano around 91%.
Technological Advancements: Cardano vs. Ethereum
Gambardello argued that Cardano is not “late to the party” when it comes to technological advancements. He highlighted the launch of Alonzo smart contracts and the emergence of DeFi platforms like Sunday Swap as evidence that Cardano is on a similar but potentially more advanced technological path compared to Ethereum.
Total Value Locked (TVL) and Staking
Gambardello discussed the concept of Total Value Locked (TVL) and suggested that if staked ADA were included in Cardano’s TVL calculations, it would rank much higher. He believed that Cardano’s innovative staking mechanism, which allows ADA to remain in the user’s wallet, should be considered an asset and included in TVL calculations.
Market Cap Projections
Gambardello speculated that even if Cardano doesn’t reach Ethereum’s $546 billion market cap, a more conservative estimate of $350 billion would still result in a price of $10 per ADA. However, he clarified that this is not a price prediction but rather a starting point for discussion.
DeFi and Total Value Locked
Gambardello pointed out that Cardano already has around a million dollars in TVL as of January 2022, thanks to the launch of DeFi platforms like Sunday Swap. He highlighted that back in November 2018, Ethereum had almost no TVL after its first bull market, indicating Cardano’s potential to catch up with or even surpass Ethereum in the future.
The Importance of Staking in TVL
Gambardello questioned why staked ADA is not considered in Cardano’s TVL calculations. He argued that Cardano’s staking mechanism is innovative and should be included in TVL calculations. He referenced a tweet suggesting that if staked ADA were considered, Cardano would rank second in terms of TVL with $5.5 billion.
Conclusion
Gambardello concluded by stating his belief that Cardano is a strong contender in the crypto industry due to its technological advancements and market resilience. While acknowledging the flaws of Cardano, he praised its performance in terms of security, decentralization, and scalability. He encouraged viewers to share their thoughts and subscribe to his channel for more insights.
Hot Take: Cardano’s Potential to Surpass Ethereum
Cardano, with its market resilience and technological advancements, has the potential to surpass Ethereum in the crypto space. The launch of Alonzo smart contracts and the emergence of DeFi platforms like Sunday Swap demonstrate Cardano’s progress. By considering staked ADA in Total Value Locked (TVL) calculations, Cardano’s ranking would significantly improve. While it may not reach Ethereum’s market cap, a more conservative estimate still suggests a positive outlook for ADA’s price. As Cardano continues to grow and innovate, it could become a major player in the crypto industry.
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