When it comes to cypto predictions, all kinds of figures are often thrown out there. Recently Cardano’s Charles Hoskinson said that he wishes to see Cardano become the first trillion dollar crypto. This got investors excited, with many predicting that Cardano (ADA) could be worth over $200 a coin in the near future. While in crypto things move a little fast, chances of such a huge market cap in the near future are quite minimal.
That’s because it would mean that Cardano would have a market cap that is more than 7 times that of Bitcoin (btc). If bitcoin (BTC) were to maintain its market dominance, and this looks likely to continue in the foreseeable future, it would mean that bitcoin (BTC) would have a market cap of over $20 trillion, if Cardano were to have a market cap of $1 trillion.
One thing is likely though, Cardano has the potential to give over 600% in returns in the course of 2018. For Cardano to give such a return, it simply needs to get back to around $1, and that’s very probable. In 2017, Cardano shot up to over $1 when it was still pretty much a whitepaper, with very little in terms of development.
Fast forward to July 2018 and Cardano has accomplished so much. At this point, Cardano has a working paper wallet, which means that investors can now store their coins in cold storage. On top that, Cardano is close to finalizing on Ouroboros. This will make it the first verifiable proof-of-stake blockchain in the market. By making use of Proof-of –Stake, Cardano will achieve two key objectives.
First, it will eliminate the need for the power extensive Proof-of-Work mining that is currently used by bitcoin (BTC), Ethereum (ETH) and other major cryptos. Second, Proof-of-Stake means that Cardano (ADA) will be one of the most scalable, yet decentralized cryptocurrencies in the market. Given that scalability is the key hindrance to the adoption of blockchain technology, it then follows Cardano will gain wide adoption in different industries including in finance within a very short-time.
In short, Cardano is one crypto that could touch on every aspect of the global economy, and that will be huge boost in its value. Can this give Cardano a market capitalization of $1 trillion? It probably will, but that will happen in the very long-term, over 10 years from now.
What’s most probable is that these developments will take Cardano back to over $1 pretty soon. This will be a more than 600% profit, when an investment is made at current prices. That’s a massive return that has the potential to transform someone’s life if they have a significant holding of Cardano (ADA).
In essence, an investor at this point should aim to get a large enough number of Cardano (ADA), an amount that can have an impact on their finances, if Cardano makes a run to the $1 mark. With bitcoin turning bullish, it won’t be long before Cardano (ADA) and the rest of the altcoins market follows suit.