Crypto strategist and trader Benjamin Cowen says the implementation of smart contracts on Cardano can push the value of the sixth-largest crypto asset to a new all-time high.
In a new strategist, the crypto analyst explains how ADA could potentially follow the footsteps of Ethereum (ETH), which he says has been doing well due to its various applications in many protocols.
“A lot of ETH is getting eaten up on all these different platforms, of people that are actually utilizing Ether: NFTs (non-fungible tokens), DeFi (decentralized finance). There’s just so many various applications right now, so many dApps that people are using for Ether, and arguably that’s contributed to the high market capitalization.
Cardano does not really have that effect yet. It does not have that same level of network effect now. Obviously, we hope it can grow into that. None of us, I don’t think, are claiming that Cardano’s ecosystem is currently bigger than Ethereum’s, but I