Cardano Surpasses Ethereum in Developer Activity for First Time
Cardano has surpassed Ethereum in developer activity, challenging its previous reputation as a "ghost chain." This change has sparked optimism among investors regarding potential price increases for ADA.
Key Developments
- Cardano recorded 21,439 GitHub commits over the past year, outpacing Ethereum's 20,962 commits.
- Activity spans 12 core projects and involves 36 projects overall, demonstrating real-world utilization.
Ethereum's Position
- Ethereum is experiencing what some describe as an "underwhelming year" with declining developer numbers.
- Charles Hoskinson, Cardano's founder, predicts Ethereum could collapse by 2040 due to outdated technology and fragmentation of layer 2 solutions.
- The Ethereum Foundation aims to enhance scaling capabilities to address developer disengagement.
Price Forecasts
- ADA currently trades at $0.69, maintaining key support levels.
- Analysts suggest ADA may jump to $1.20-$1.30 within this market cycle, with a long-term target of $10 by 2029.
- A recent transfer of $20 million in ADA from exchanges is seen as a bullish sign.
Strategic Initiatives
- Cardano plans to expand its ecosystem through partnerships, including an integration with XRP for its Lace Wallet.
- This collaboration aims to enhance price performance and increase real-world use cases for both ecosystems.
- Positive developer metrics and strategic alliances contribute to a shift away from the "ghost chain" stigma.