Cardano (ADA) is making significant progress towards reaching the $1 mark, while Solana (SOL) has successfully reclaimed the $140 price level. This has led some crypto users to compare the performance of both assets.
Charles Hoskinson, the founder of Cardano, has emphasized the importance of building a resilient ecosystem rather than solely focusing on short-term price appreciation. He believes that the surge in price should be seen as a reflection of the asset’s genuine network value, rather than an indicator of a good ecosystem.
Analysts agree with Hoskinson’s approach, stating that prioritizing technological updates and developmental projects is crucial for creating a strong and sustainable ecosystem. Cardano’s progress in aligning itself with leading projects has been highlighted in recent reports.
Although Cardano’s price performance has been positive, with a 17% increase in its year-to-date price, it is still a long way from its all-time high of $3.099. Additionally, its 24-hour trading volume has decreased by 28%.
In terms of wallet addresses, 0.39% of the total ADA active wallet addresses hold at least $100,000 worth of the asset, while 16% hold between $1,000 and $100,000. Comparing Solana and Cardano’s price surges in the last 30 days, both assets have recorded a 51% increase, making the argument that one outshines the other baseless. Analysts predict that ADA could reach $8 by 2025.
There are also predictions that Cardano could experience a breakout sooner than expected, with a potential rise to $0.80, a retracement to $0.60, and then a bull run towards $8 by January 2025.
However, despite these positive predictions, Cardano was excluded from Grayscale’s GDIF, which raised questions from Hoskinson. Grayscale has shown interest in ADA, considering it as an investment option for two of its funds. ADA currently makes up 1.6% of the GDLC and 19.77% of the GSCPxE Fund, while Solana accounts for 44.54%.
Overall, Cardano’s focus on building a resilient ecosystem and its positive price performance indicate a promising future for the asset.