A recent comparison was made between Solana (SOL) and Cardano (ADA). In response, Cardano’s founder, Charles Hoskinson, used the opportunity to throw what seemed like a subtle jab at the Solana network.
Cardano Founder Thinks Solana Has No Real Network Value? The comparison was drawn when an X (formerly Twitter) user (known as Jeremy) stated that SOL had reclaimed $140 and quizzed Hoskinson about when ADA would hit $1. The Cardano founder replied and simply said, “Number goes up != good ecosystem or real network value.”
However, his statement has caught the eyes of members of the crypto community, as he could have been insinuating that Solana has a good ecosystem but lacks real network value. If so, it won’t be the first time that Hoskinson throws shade at Solana and criticizes the network’s capabilities.
In February, when Solana suffered an outage, he released an X post where he joked about the developers possibly shutting down and restarting the network to get it back up. In January, he also suggested that the Solana ecosystem was getting it wrong by splashing millions of dollars on marketing.
Despite his reservations about Solana, Hoskinson can expect more comparisons between Solana and ADA, especially if crypto analyst Chris O’s prediction is accurate. The analyst had predicted that both crypto tokens would battle it out to become the third-largest crypto token by market cap, adding that he sees them flipping each other “back and forth.”
ADA (currently the eighth-largest crypto token) will, however, have some catching up to do if it is to go head-to-head with SOL, which is currently ranked as the fifth-largest token by market cap. In the meantime, ADA also risks Dogecoin (DOGE) and Shiba Inu (SHIB), which have outperformed it lately.
Will ADA Hit A New All-Time High? Hoskinson was also quizzed on whether he thinks ADA will see a new all-time high (ATH) in this bull run, but he did not respond. While the Cardano founder remains tight-lipped about ADA’s future trajectory, analysts have given varying views on where the crypto token is headed.
On the one hand, ADA maximalists like Dan Gambardello, the founder of Crypto Capital Venture, have continued to offer bullish price predictions for the crypto token. Gambardello has predicted that ADA could rise to as high as $11 in the next bull run, surpassing its current ATH of $3.
On the other hand, reports from AlphaQuest Research and K33 suggest that ADA is going to ‘zero’ and that investors are better off offloading their tokens rather than waiting for significant gains that might never come.
At the time of writing, ADA is trading at $0.7334, down in the last 24 hours, according to data from CoinMarketCap.
ADA price at $0.73 | Source: ADAUSDT on Tradingview.com Featured image from Securities.io, chart from Tradingview.com
Sign Up for Our Newsletter! For updates and exclusive offers enter your email.
Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.