Ethereum
Cardano to hit $9.86 if it hits Ethereum market cap
Cardano’s price could skyrocket up to 21 times to a price of $9.86 if it had Ethereum’s current market cap.
Cardano Price to Ethereum Market Cap
Despite Cardano’s drastic price decline, market observers have persisted with their high price targets for ADA, which would significantly increase its market valuation. Amidst these projections, we assessed how much Cardano’s price would need to skyrocket to reach the market cap of a cryptocurrency such as Ethereum (ETH).
Data from a market analysis tool confirms that ETH has a market capitalization of $348.6 billion, making it the second largest crypto asset, behind Bitcoin with a valuation of $1.198 trillion. Ethereum’s market cap also had an impact during the market plunge, as the asset itself collapsed below the crucial psychological support of $3,000.
However, at its current valuation, Ethereum has a market capitalization of 21.97 times that of Cardano. If Cardano climbed to claim this $348.6 billion valuation, its price would have increased significantly to $9.86, marking a new all-time high. This assessment takes into account a fairly stable circulating supply of over 35 billion ADA tokens.
Can Cardano reach $9.98?
While this $9.86 price may seem unachievable to most, some market analysts have recently outlined price targets in the region. Analyst Ali Martinez predicted On May 3, Cardano has the potential to reach a price of $9.9, citing historical patterns from the previous bull run.
Moreover, this Wednesday, The Crypto Basic present a list of several market watchers who predicted Cardano to reach a price around the $10 threshold in multiple time frames, including crypto YouTube channel Altcoin Daily and popular crypto chartist Lucid.
Meanwhile, others expect Cardano’s price to decline, but the projections remain optimistic. For example, analyst Jake Gagain predicted in March, this ADA would reach $7.5 next year. Chris O’Connor, founder of Cardano Ghost, claimed that ADA could reach $6.66 to $7.77 depending on its trajectory during the current cycle.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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