The eighth-largest cryptocurrency, Cardano (ADA), has shown some indications of life during the last two weeks. The network’s minor improvements were what actually encouraged investors’ hope. After that, Cardano must work even harder to surpass $4 and catch up to Ethereum in terms of market capitalization. According to CoinGecko’s data, ADA is now trading at about $0.48 with a 7-day gain of almost 5%. So, without a doubt, the network requires a lot of support if it wants to move the token beyond the $4 threshold successfully. Related Readings | Bitcoin Drops Below $22,000, Is Peter Brandt’s Analysis Still In Play? In recent years, Ethereum has ranked second to Bitcoin in value. Despite a significant increase in value since its inception, Cardano is certainly one of the most significant blockchain networks in the market, and its native coin ADA ranks in the top 10 currencies. Per the Nomics statistics, the market cap of ADA is currently approximately $16.21 billion, while the market cap of ETH is roughly $147.93 billion. ADA accounts for just 10.93% of Ethereum’s market capitalization. Well, to match the market valuation of Ethereum, Cardano will have to surge by 9.25x. ADA would then trade at a price of $4, representing a gain of 823.39%. Furthermore, ETH has gained nearly 13% over the past week and is presently trading at $1,215.41. According to CoinGecKo statistical data, the daily trading volume...
