Industry exec believes Cardano (ADA) will be the fifth-largest crypto in 2021 ๐จ This article is 4 years old...
Industry exec believes Cardano (ADA) will be the fifth-largest crypto in 2021
2 min read
Updated: Jul. 3, 2020 at 9:11 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
There was a time when Cardano’s ADA was a top-ten cryptocurrency.
At the peak of 2018’s bubble, the altcoin was trading above $1.00. That coincided with a market capitalization of over $30 billion. At the time, Cardano’s market cap was the size of a mid-large-cap company.
Things have changed though as value has consolidated in tried-and-true players like XRP, Litecoin, and Binance Coin.
ADA is now the eleventh largest cryptocurrency and was even lower down on the list just months ago.
Yet an executive says that this weakness is unlikely to last, especially with the Shelley upgrade nearing.
ADA could be a top-five crypto asset by 2021: executive
Ryan Selkis, CEO of Messari, says that he thinks the top ten cryptocurrencies will get a facelift in 2021 as “real garbage” has once again populated the industry.
He expects the third-largest cryptocurrency to the tenth-largest, which means Tether’s USDT, XRP, and others, to all be replaced by other projects. All but Binance Coin, which he expects to remain a top altcoin.
Of note, he believes ADA will become the fifth-largest cryptocurrency. At current prices, the asset taking that seat would require its market capitalization to double to $4.5 billion.
Cardano will need to encroach on Ethereum
Cardano’s growth will be dependent on it beating out other blockchains, according to Charles Hoskinson.
The Cardano founder told the executive in a recent June interview that Ethereum is not yet at a point where it will decisively become the leading smart contract blockchain.
Hoskinson went as far as to say that Cardano and other networks/technologies can begin to nip away at the incumbent.
This comment was made in reference to Cardano’s Shelley upgrade. The blockchain upgrade, which is its “Ethereum 2.0” moment so to say, will purportedly increase its usability exponentially.
Whether it can be pulled off and if ADA will see adoption remains to be seen though.
Cardano’s success is also put into question because the launch of Ethereum 2.0 is also nearing.
That upgrade is expected to be a big market catalyst for ETH, with one branding it the largest economic shift in crypto ever.
Not the only one expecting a crypto shake-up
Selkis is notably not the only executive expecting a shake-up in the top cryptocurrencies. Though, the Messari founder seems to be one of the only investors expecting Cardano to take a top seat.
The co-founder of crypto research firm Blockfyre and a fund/advisory called MoonRock Capital, Simon Dedic, recently commented:
“I will get some serious hate for that, but I stand by my opinion: XRP, BCH, BSV, LTC, and EOS absolutely do NOT deserve belonging to the TOP 10 cryptocurrencies.”
I will get some serious hate for that, but I stand by my opinion:$XRP, $BCH, $BSV, $LTC and $EOS absolutely do NOT deserve belonging to the TOP 10 cryptocurrencies.
Actually can't wait until they vanish and clear the way for solid candidates like $VET, $LINK, $XTZ or $ATOM.
— Simon Dedic (@scoinaldo) June 21, 2020
His comment indicated he harbors no animosity towards Cardano, but he did say that he expects Vechain, Chainlink, Tezos, and Cosmos to encroach on the incumbents.
Mentioned in this article
Cardano 
XRP 
Bitcoin Cash 
Bitcoin SV 
Litecoin 
EOS 
VeChain 
Chainlink 
Tezos 
Cosmos 
BNB 
Messari 
Charles Hoskinson 
Ryan Selkis 
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In this article
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
XRP
$1.33763
Theย XRP Ledgerย is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Bitcoin Cash
$488.778
Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Bitcoin SV
$67.9729
Bitcoin SV is a full-node implementation for Bitcoin Cash (BCH).
Litecoin
$89.5254
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.
EOS
$0.66977
EOS is a blockchain protocol that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications..
VeChain
$0.03161
VeChain is an enterprise-focused blockchain ecosystem that aims to enhance supply chain management by connecting blockchain technology with the real world through ‘a comprehensive governance structure, a robust economic model, and advanced IoT integration’.
Chainlink
$14.8128
Chainlink is a decentralized oracle network that connects smart contracts on the blockchain to real-world data.
Tezos
$1.04155
Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth.
Cosmos
$6.43904
Cosmos is a blockchain ecosystem where thousands of dApps interoperate to create the foundation for a new token economy.
Messari
Messari is a fast growth startup in New York that is building the next generation data layer for the global cryptoasset community.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Ryan Selkis is the founder and CEO of Messari, a reliable data and market intelligence for crypto investors.