Cardano vs. Ethereum: May the Best Blockchain win

The Cardano (ADA) vs Ethereum (ETH) argument is common in the cryptocurrency space for a good reason: both networks offer similar features and investors believe that their preferred coin is the best to buy.

Charles Hoskinson, co-founder of Ethereum began the development of Cardano in 2015.

However, it was not until 2017 that the open-source, blockchain-based network and cryptocurrency-based asset was launched.

Ethereum is an older platform: The white paper was released in 2013 by Canadian-Russian Vitalik Buterin.

Alongside some co-founders, he organized a fundraiser, and in 2015, Ethereum, the second most popular cryptocurrency platform after Bitcoin was launched.

As of the 15th of September 2021, Coindesk reported the price of ETH to be $3,536.56 and the price of ADA to be $2.52.

The prices of Ethereum and Cardano are far apart, but both coins have had significant price rises that resulted in profits for crypto investors and traders.

In February 2021, Cardano recorded a surge despite the dips that some other coins like Bitcoin and Ethereum faced.

Early September 2021 saw a massive rise in Ethereum with the token being priced at $3789. From a price of $1700 in late June, ETH rose to become one of the most profitable coins: the NFT surge was a major contributing factor.

One thing that makes cryptocurrency interesting is that the prices of coins rise and fall: dips are great periods for buyers who want to hold the coin and not-so-great periods for traders who need to sell their coins for a profit.

In late July 2021, Ethereum was priced at between $1700 to $1750: the dip was associated with a fall in Bitcoin that left its price in the $30000s. It was a perfect time for bulls to buy, and they bought ETH.

August 2021 saw Cardano dip to as low as $1.87, way below the normal $2 margin. This time this dip was due to market changes: traders bought more ADA and the price continued to rise.

A strong factor that determines the willingness of cryptocurrency investors to invest is coin stability. You would not want to put 1000 dollars in crypto and end up with $2.50 after some weeks.

Although Ethereum is volatile, it is more stable compared to Bitcoin. Dips in ETH are usually following the dips in BTC: However, dips in ETH are relative to a lower percentage.

Cardano on the other hand has seen many price changes: The coin still does well because of the good staking model and the lower barriers for staking. This keeps ADA at a strong place in the crypto market.

In the Cardano vs. Ethereum argument it is important to know that comparatively, Cardano is cheaper than Ethereum in terms of price.

Ethereum is the second most popular cryptocurrency with a market capitalization of over $400 billion; It is commonly speculated that the coin could reach $10,000 in the next few years. 

According to Long Forecast, Ethereum is billed to be at $3,435 in September, then dip to below $3000 in November and December, and reach a whopping $10,185 in April of 2023.

Cardano has shown huge potential, up by 1600% from last year: it is one of the most talked-about tokens in the crypto space, and rumors say ADA may reach $8 Soon.

Long Forecast sees Cardano at $2.77 in September, dipping to below $2 until June of 2022 and rising steadily to reach $3.80 in April 2023. 

Ethereum is the second most popular cryptocurrency: DeFi and NFTs make ETH more widely used as a crypto asset all over the world. 

In June 2021, Coinbase reported that ETH was the most used cryptocurrency on their website. Ethereum also took up 26% of the trading volume as compared to 24% for Bitcoin.

Cardano is reported to be the third-largest cryptocurrency in the marketplace. The Alonzo upgrade is the key to bringing smart chain functionality to this blockchain, establishing ADA in DeFi.

Cardano's popularity is likely to increase: the proof of stake method, lower energy consumption, and the cheaper price is likely to attract more crypto enthusiasts.

As someone who believes in the future of cryptocurrency, I find the Cardano vs. Ethereum argument very interesting.

I have read different opinions on the matter and I must say that the prospects for Cardano are quite high, but I do not see the coin beating Ethereum at price.

People who want small investments in cryptocurrency might find Ethereum overwhelming, even though it is more popular. Buying $50 worth of ADA seems more likely than $50 of ETH, considering gas fees and crypto purchase restrictions.

In my opinion, if you want to buy a coin for long-term purposes, Ethereum is the way to go. On the other hand, if you want a cheaper coin to sell when you are strapped for cash, buy Cardano. In your decision-making, do your market research and do not borrow to invest or make an investment you cannot afford to lose.

Disclaimer: All opinions shared in this article are that of the author and they do not count as investment advice.