Prediction: Cardano Will Be Worth More Than $1 in 1 Year

Core Insights - Cardano's price has declined approximately 13% over the past year, while Bitcoin and Ethereum have increased by 9% and 2% respectively, maintaining a market cap of around $18 billion and ranking as the 10th most valuable cryptocurrency [1][2]. Group 1: Market Performance - Cardano remains over 80% below its all-time high, contrasting with Bitcoin and Ethereum, which reached new all-time highs earlier this year [2]. - Despite the bearish sentiment towards Cardano, there is a belief that its price could potentially double to $1 within the next year [2]. Group 2: Technological Advantages - Cardano was developed by Ethereum co-founder Charles Hoskinson and utilizes a proof of stake (PoS) consensus mechanism, allowing for staking to earn rewards, unlike Bitcoin's proof of work (PoW) [4]. - The platform's proprietary PoS blockchain protocol, Ouroboros, supports smart contracts and has undergone formal peer reviews to ensure scalability and security, distinguishing it from other PoS blockchains [5]. Group 3: Performance Metrics - Cardano's Layer-1 blockchain can achieve speeds of 250 transactions per second (TPS), significantly higher than Ethereum's average of 15 to 30 TPS, and can reach up to 1,000 TPS with its Layer-2 Hydra solution [6]. - Cardano has a circulating supply of approximately 36 billion tokens with a maximum supply of 45 billion, allowing for valuation based on scarcity similar to Bitcoin [7]. Group 4: Future Outlook - Despite underperforming compared to Bitcoin and Ethereum, Cardano's network upgrades are expected to attract more developers and potentially increase its price [8].