Crypto Twitter’s mysterious whale talks about ‘Ethereum moment’ for an altcoin. Accordingly, he predicts a bull run for the altcoin.
What scenario does Cardano Whale have in mind for the altcoin?
Cardano-focused Twitter account Cardano Whale predicts that Cardano could have its ‘Ethereum moment’ in its next bull run. The ADA whale clarifies what he means next. cryptocoin.com As you follow, Cardano managed to rise to third place in terms of market capitalization last year. In this period, Ethereum, as usual, was in second place. The mysterious whale makes the following statement:
One possible scenario I have in mind is that Cardano will have its ‘Ethereum moment’ in its next bull run. What he’s trying to do when pumping the last to the third. But unfortunately it is still too early. DeFi, NFTs and community activity will explode. It will solidify my view that there are no VC prefab shortcuts in crypto.
A likely scenario in my mind is that Cardano will have its Ethereum moment next bull run (what it tried to do last one as it pumped to 3rd, but alas too early), with DeFi, NFTs and community activity exploding. Will solidify my view that there are no VC prefab shortcuts in crypto
— ADA whale (@cardano_whale) October 22, 2022
Cardano Whale notes that the uptrend is pretty early as it doesn’t have the ‘components’ that Cardano currently has. However, DeFi predicts a repeat of the same scenario as NFTs and community activity explode. He says there will eventually be a vacuum for Cardano to succeed in its next bull run.
How is altcoin price performance?
In the months leading up to the September 2021 Alonzo upgrade, ADA rose more than 1,800%. It outperformed Bitcoin and Ethereum in terms of earnings during this period. It later became the third largest cryptocurrency by market cap.
Exactly in August 2021, Cardano was trading above $2.50. It also reached a market capitalization of $78 billion. Due to the current bear market, the altcoin has lost most of this value. ADA is currently the eighth largest cryptocurrency with a market cap of $11.9 billion. At the current price of $0.34, it has significantly moved away from its all-time high.
Some believe Cardano has the potential to one day flip Ethereum. One of them is YouTuber crypto analyst Ben Armstrong (BitBoy). The analyst predicts that Cardano will surpass Ethereum in terms of market cap. He also managed to create a stir on Twitter by sharing this view.
Cardano NFT volume hits new record
According to Stocktwits NFTs Data, Cardano NFTs have reached 4.4 million ADA. Thus, it set a new record for 24-hour volumes. Notably, NFT volumes were up 328% from last weekend.
Also, Cardano NFT project Ape Society has reached 10,000 ADA at its base price, which refers to the cheapest NFT in the collection. Now Stocktwits NFTs are reporting that the base price for Ape Society is up 67% and Cabins is up 102%, recording $515,513 in volume in the last 24 hours.
