Following Charles Hoskinson’s forecasts that Cardano could outperform Bitcoin with a 1,000x rally, this article estimates what ADA price would be at that level.
ADA, the native token of the Cardano ecosystem, suffered a notable price crash over the past day. The downturn was driven by the Federal Reserve’s decision to maintain interest rates, which sent Bitcoin and other crypto prices tumbling. However, after dipping to $0.74, ADA has rebounded to $0.78.
Cardano Founder Says ADA Will Outperform Bitcoin
At press time, ADA was changing hands at $0.7804, down slightly 0.51% over the past 24 hours and 1.32% over the past week. It is currently down 74.82% from its previous all-time high of $3.10, registered on September 2, 2021.
Despite this, investors are optimistic that ADA will surpass its ATH and aim for ambitious targets. This optimism gained momentum after Cardano founder Charles Hoskinson predicted that ADA could outperform Bitcoin and rally up to 1,000x from its current level.
He suggested that Bitcoin’s upside potential is now limited, emphasizing that the premier asset might rally 10x from its current level to a $1 million price target. This estimated price translates to a market cap of $20 trillion, assuming the premier asset maintains a supply of 20 million coins.
However, he believes ADA could outperform Bitcoin’s gains and soar within the range of 100-1,000x.
ADA Price If It Grows by 1,000x
Amid this optimism, The Crypto Basic explored how much one ADA coin could be worth if its price increased by 1,000x. For context, this represents a 99,900% surge from its current level.
Notably, with ADA trading at $0.7804, it boasts a market cap of $27.63 billion. A 100x rally would drive ADA to $78.04, while a more ambitious 1,000x surge would see it reach $780.40.
At $780, ADA’s market cap will soar to $27.63 trillion. Similarly, the $78 price is equivalent to a market cap of $2.76 trillion, assuming ADA’s supply remains at 35.41 billion coins.
Timeline for Cardano (ADA) Price to Reach $780
Changelly and Telegaon projected that Cardano might hit the $78 mark between 2036 and 2040. However, neither has provided a timeline for the coin to reach the $780 target.
Meanwhile, Changelly expects Cardano to reach a maximum price of approximately $739 by December 2050. Interestingly, this is just $41 below the $780 projection.
Overall, despite the formidable journey ahead, the Cardano founder believes ADA is capable of soaring 1,000x, given its added utility in DeFi—something Bitcoin natively lacks.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
