Hoskinson Fires Shots at Ethereum While Pushing Cardano’s Next Big Update
- Hoskinson declared: “I want Cardano to win” in his AMA, pushing developers toward the Glacier update as a DeFi catalyst.
- Ethereum dwarfs Cardano on every metric, from TVL ($91.6B vs $362M) to transactions per second (17.7 vs 0.27).
- ADA’s price action remains bearish, with support eyed near $0.74, while indicators hint at growing selling pressure.
Charles Hoskinson, the mind behind Cardano (ADA) and one of Ethereum’s original co-founders, has ramped up the rivalry with Ethereum in his latest Ask Me Anything (AMA) session. While Ethereum continues to tower over Cardano with a staggering $532 billion market cap versus ADA’s $28 billion, Hoskinson doubled down on his vision of Cardano eventually carving out its own place at the top.
During the session, Hoskinson bluntly said: “I want Cardano to win” when asked about its competition with Ethereum. He urged developers to keep building within the Cardano ecosystem and highlighted the upcoming Glacier update, which will introduce Hydra protocol upgrades, advanced smart contracts, and the Midnight token. According to him, this could be a turning point for Cardano’s long-stalled DeFi adoption.
Ethereum’s Lead Still Looks Insurmountable
The numbers tell a clear story. Ethereum dominates with $91.64 billion in Total Value Locked (TVL) across DeFi, while Cardano trails massively with just $362 million. On-chain activity paints the same picture: Ethereum processes 1.46 million daily transactions, compared to Cardano’s 27,329.
Even when it comes to raw performance, Ethereum outpaces ADA with 17.78 transactions per second (TPS) on average, compared to Cardano’s 0.27 TPS. The theoretical ceilings widen the gap further: Ethereum maxes out at 119 TPS, while Cardano only reaches 18.
Hoskinson admitted the gap but remains convinced that upgrades like Glacier could act as a catalyst for catching up.
Behind-the-Scenes Insights and Rivalries
Hoskinson also shared an anecdote about Sergey Nazarov, the founder of Chainlink (LINK). According to him, Nazarov demanded too high a price for Cardano integration, calling Sergey a man who “knows he’s sitting on a golden egg.” It was a rare glimpse into the behind-the-scenes negotiations that shape blockchain alliances and rivalries.
Meanwhile, Cardano’s recent market performance hasn’t inspired much confidence. ADA is down for the fourth straight day, slipping 1% and falling below its 50-day EMA at $0.8126, with eyes now on the 200-day EMA at $0.7426 as the next support zone.
Technical Picture: ADA Fighting to Stay Afloat
Momentum indicators point to continued bearish pressure. The Relative Strength Index (RSI) has dropped below the neutral line to 44, suggesting weakening buying interest. The MACD is also drifting toward the zero line, flashing signs of rising selling momentum.
For ADA to shake off this slump, bulls need to reclaim the 50-day EMA at $0.8126 quickly. Until then, pressure from Ethereum’s dominance—and broader market headwinds—will likely keep Cardano on the defensive.
The post Hoskinson Fires Shots at Ethereum While Pushing Cardano’s Next Big Update first appeared on BlockNews.
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Hoskinson Fires Shots at Ethereum While Pushing Cardano’s Next Big Update
- Hoskinson declared: “I want Cardano to win” in his AMA, pushing developers toward the Glacier update as a DeFi catalyst.
- Ethereum dwarfs Cardano on every metric, from TVL ($91.6B vs $362M) to transactions per second (17.7 vs 0.27).
- ADA’s price action remains bearish, with support eyed near $0.74, while indicators hint at growing selling pressure.
Charles Hoskinson, the mind behind Cardano (ADA) and one of Ethereum’s original co-founders, has ramped up the rivalry with Ethereum in his latest Ask Me Anything (AMA) session. While Ethereum continues to tower over Cardano with a staggering $532 billion market cap versus ADA’s $28 billion, Hoskinson doubled down on his vision of Cardano eventually carving out its own place at the top.
During the session, Hoskinson bluntly said: “I want Cardano to win” when asked about its competition with Ethereum. He urged developers to keep building within the Cardano ecosystem and highlighted the upcoming Glacier update, which will introduce Hydra protocol upgrades, advanced smart contracts, and the Midnight token. According to him, this could be a turning point for Cardano’s long-stalled DeFi adoption.
Ethereum’s Lead Still Looks Insurmountable
The numbers tell a clear story. Ethereum dominates with $91.64 billion in Total Value Locked (TVL) across DeFi, while Cardano trails massively with just $362 million. On-chain activity paints the same picture: Ethereum processes 1.46 million daily transactions, compared to Cardano’s 27,329.
Even when it comes to raw performance, Ethereum outpaces ADA with 17.78 transactions per second (TPS) on average, compared to Cardano’s 0.27 TPS. The theoretical ceilings widen the gap further: Ethereum maxes out at 119 TPS, while Cardano only reaches 18.
Hoskinson admitted the gap but remains convinced that upgrades like Glacier could act as a catalyst for catching up.
Behind-the-Scenes Insights and Rivalries
Hoskinson also shared an anecdote about Sergey Nazarov, the founder of Chainlink (LINK). According to him, Nazarov demanded too high a price for Cardano integration, calling Sergey a man who “knows he’s sitting on a golden egg.” It was a rare glimpse into the behind-the-scenes negotiations that shape blockchain alliances and rivalries.
Meanwhile, Cardano’s recent market performance hasn’t inspired much confidence. ADA is down for the fourth straight day, slipping 1% and falling below its 50-day EMA at $0.8126, with eyes now on the 200-day EMA at $0.7426 as the next support zone.
Technical Picture: ADA Fighting to Stay Afloat
Momentum indicators point to continued bearish pressure. The Relative Strength Index (RSI) has dropped below the neutral line to 44, suggesting weakening buying interest. The MACD is also drifting toward the zero line, flashing signs of rising selling momentum.
For ADA to shake off this slump, bulls need to reclaim the 50-day EMA at $0.8126 quickly. Until then, pressure from Ethereum’s dominance—and broader market headwinds—will likely keep Cardano on the defensive.
The post Hoskinson Fires Shots at Ethereum While Pushing Cardano’s Next Big Update first appeared on BlockNews.
Read More