Popular Crypto Analyst Explains How Cardano can follow the pattern of Ethereum in achieving greater success.
Popular Crypto Analyst and Trader Benjamin Cowen told the over 538K subscribers of his YouTube channel in a video released on the launch eve of smart contracts support on the cardano mainnet.
For instance, he said Cardano could build upon Ethereum’s success pattern by emphasizing application adoption.
Benjamin Cowen notes Ethereum’s widespread use for multiple protocols, starting with non-fungible tokens (NFTs) and decentralized finance (DeFi). Meanwhile, This makes users to hoard and spend ETH.
The popular crypto analyst said Ethereum’s applications contributes largely to its market capitalization and growth.
However, Cardano is yet to achieve a similar level of adoption of app utilization. Nonetheless, Cowen predicted Cardano’s ecosystem and network effect will continue to grow and lead to a positive impact on price.
“None of us, I don’t think, are claiming that Cardano’s ecosystem is currently bigger than Ethereum’s, but I do think that Cardano will grow with time, and I do think that as more utility is actually built out on the platform, that this will have a positive impact on the price.”
Popular Crypto Analyst Benjamin Cowen evaluates the $ADA-$ETH trading pair. He added that if it records a new a-time high, that $ADA token could worth as much as $4.50. This means that the $4.50 could be his mid-term price call for ADA.
Also, Cowen says that $ADA is in a large re-accumulation phase trading between $1 and $3. Additionally, He also sets target for ADA to break through to a new milestone. This is possible once it passes the $3 price mark.