Cardano to rally 6x to over 10 dollars. Your next buy zones for Cardano and Cardano’s so advantages over Ethereum. That’s what we’re going to talk about today.

Cardano Now In Price Discovery

Not too long ago, in may, Cardano actually dropped more than a hundred per cent along with the entire crypto market by over a hundred per cent.

But with significant improvements, that is the smart contract that is aiming to be rolled out. There is renewed interest in ada. But for me, I really think that there is just more new dumb money that is coming into Cardano.

Remember, people buy into the hype, and there is a lot of hype with Cardano right now. With the news about Cardano Alonzo and with smart contracts.

But you know there’s also a lot of new people that are new to defi who doesn’t even know what that means.

They most likely heard about Cardano from some guy in a Facebook group, and then they bought it.

But, remember, the market moves in emotional waves. And those that bought in recently are probably making some gains and feeling very, very euphoric right now.

But of course, we know that there will probably be a retracement or pullback soon because nothing goes up indefinitely. Other than the amount of us dollars.

Cardano Leading The Pack

Really Cardano is leading the pack? İn terms of gains, Cardano is leading the pack ahead of Bitcoin and Ethereum and reaching a new all-time high before those two big assets.

And really, for me, I really think that we shouldn’t expect these daily gains in Cardano until more dapps and dexs come to the Cardano ecosystem.

Why Are Smart Contracts Important?

Right now, you really can’t do much on Cardano, but once more smart contracts get added to the Cardano network, that will bring significant value by exploring the use cases that will be possible on the Cardano blockchain.

And this is especially so for defi or decentralized finance because it allows developers to build apps to bring dapps and to bring defi services to the Cardano network. And these smart contracts will make Cardano Ethereum’s biggest competitor.

Now smart contracts haven’t brought a lot of Defi yet to the Cardano ecosystem. İt’ll also bring more about nfts which is also a huge hype right now.

What’s good about that is because Cardano’s fee structure is much less inexpensive than the fee structures in Ethereum in order to mint nfts or to do any action for that matter.

What Cardano Has That Ethereum Doesn’t

There’s this subtle advantage that is mentioned but not too mentioned by the people.

Most of us know that Cardano is proof of stake which means that it is less energy-intensive than Ethereum. So when it comes to processing transactions, all right, that’s all cool.

But anyway, there is this one other thing that has not been mentioned, and that thing is called sharding.

Cardano has sharding implemented which is something that Ethereum is working on now but has not released yet. And this sharding makes it so that Cardano can process way more transactions than Ethereum can.

In fact, they say that Cardano with sharding is able to process more transactions than a visa, which does 65 000 transactions per second.

So this is a game-changer. This is the major subtle advantage that Cardano has over Ethereum.

604% Cardano Rally?

Taking a look at Coingecko, we can see that Ethereum has a market cap of 405 billion, whereas Cardano is basically 75 billion. So now, 6x of that, we take 75 times 6, which gives us 450 billion dollars. So that’s for the market cap if Cardano goes to 13 USD, let’s say.

Now I’m not going to say that won’t happen because anything can happen in crypto. It’s just that the probability of that happening right now in the many months coming.

It is very low. I don’t see Cardano replacing Ethereum at number 2 anytime soon.

So that’s something that I wouldn’t put my whole house on let’s say now I just want to repeat the basic rule of thumb that the prices of the alt market.

Tend to keep following the price movements of Bitcoin and Ethereum. So when you see Bitcoin is going up, then you can start expecting all the altcoins to rise as well.

So what is that saying a rising tide lifts all boats. That’s what happens Bitcoins basically the tide.

However, here’s the catch the catches that you probably won’t see as huge of a rise in the altcoins as compared to Bitcoin and Ethereum. I know some of the folks in my comments have said that they’ve been seeing Bitcoin and Ethereum making major movements.

Whereas the outs that they are holding aren’t moving at all. And that’s because when Bitcoin and Ethereum rise after a big dip following a big dip. Money typically flows from the alts back to Bitcoin and Ethereum.

That’s a surprising fact you might like to know is that Cardano has skyrocketed more than 1300 per cent this year, making it the best performing top five cryptocurrencies compared to the returns of one thousand and thirty per cent for binance coin. Three hundred thirty per cent for eth and fifty-nine per cent for Bitcoin.

So lastly, let’s briefly touch upon Ethiopia. So Cardano has been assisting Ethiopia’s ministry of education with the goal of building a blockchain-based application that is a universal student credentialing system that is slated for q3 of 2021.

IOHK team demonstrated that the project will allow admins to create tamper-proof educational records across 3 500 schools, that is 750 000 teachers. İnteracting with the blockchain data of 5 million students on the Cardano ecosystem.

Which is expected to be around October, which coincides with the release of smart contracts on Cardano. Now that’s a different story, but this is good for Ethiopia and their higher education system.

Because their system is actually troubled with corruption that favours certain people, and it also has a lot of misappropriation of resources. IOHK system will facilitate student-teacher records allowing for the digital verification of grades and the remote monitoring of school performance.

So what we see is that Ethiopia is trying for something that they really need in the states. Because do you know that 21 of adults in America are actually illiterate.

They can’t read or write. And the Ethiopian government plans to equip students and teachers with tablet computers that are connected to the national internet network.

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