For the benefit of newcomers in the crypto sphere, including some Cardano community members, there was a time when the digital token ADA was a top 10 digital currency.
Back in 2018, during price parabolic movement that led to all-time highs recorded by virtually all cryptocurrencies in the market, ADA was priced above $1, with over $30 billion market capitalization.
The value dropped drastically during the bear market that followed the peak. Afterward, Cardano (ADA) lost its position among the top 10 digital currencies. However, the digital currency recently displayed an outstanding performance to reclaim its position atop the crypto market.
Ryan Selkis Expects Cardano (ADA) To Be a Top Five Crypto By 2021
The founder of Messari, Ryan Selkis is a well-known personality in the cryptocurrency community. On 22nd June 2020, Selkis took to Twitter to share his opinion about what crypto ranking should look like by 2021.
In the tweet, he pointed out that some digital currencies that occupy the top 10 in the market don’t deserve the position. He tagged them real Garbage, hoping they will be flushed out eventually.
Ryan Selkis shared this, “Overvalued is one thing. Stupid is another. Here’s hoping to flushing out the real garbage.”
Overvalued is one thing. Stupid is another. Here’s hoping to flushing out the real garbage.
Next year’s top 10:
What are yours?
— Ryan Selkis (@twobitidiot) June 22, 2020
Specifically, he expects ADA to become the 5th largest cryptocurrency. Considering current prices in the market, the digital token will have to double its market cap to clinch such a position.
Cardano’s Growth Is Dependent on Beating Blockchains Such As Ethereum (ETH)
The creator of Cardano made this known in a recent interview with Ryan Selkis of Messari. There, he said “It’s the biggest lie ever told in the space. It makes sense why that lie is so propagated, that Ethereum has achieved the network effect.”
“They say ‘we’re the dominant platform’. Yes, you’re the dominant platform. It’s like saying you’re the biggest fish in a very tiny pond next to the ocean. No one has won. We’re all fighting right now in a small pond.”