Cardano, the once-dismissed “ghost chain,” has emerged as a formidable competitor to Ethereum in terms of developer activity. Surpassing Ethereum with over 21,000 GitHub commits in the last 12 months, Cardano’s momentum is challenging old narratives and attracting renewed investor interest.
The data from Cryptometheus showcases Cardano’s thriving ecosystem, with 550 core repositories and 4,200 GitHub repositories contributed by 12 core projects and 36 ecosystem projects. This surge in development not only dispels the notion of Cardano being a stagnant network but also positions it as a vibrant and utility-driven platform.
Despite ADA trading at $0.6971 (down 2.42%) and ETH at $1,806.86 (down 0.76%), market sentiment remains cautiously optimistic for Cardano. While both altcoins show bearish momentum in the short term, analysts predict a potential 100% surge for ADA during the current market cycle, with projections of reaching $10 by 2029.
In a bold critique of Ethereum’s future, Cardano founder Charles Hoskinson expressed skepticism about ETH’s longevity, suggesting it may not survive the next decade. Hoskinson believes that Ethereum will be eclipsed by Bitcoin DeFi as Layer 2 solutions continue to attract users away from the network.
The rivalry between Cardano and Ethereum continues to intensify, with Cardano’s impressive developer activity and potential price rally setting the stage for a significant shift in the cryptocurrency landscape. Investors are closely watching these developments as they navigate the ever-evolving crypto market.
Next: Uniswap gets Coinbase boost, but UNI investors are running for the hills – Why?