dailyhodl.com
Crypto influencer Lark Davis says smart contract platforms Cardano (ADA) and Ethereum (ETH) are gearing up to rally by 300% from their current prices.
This week, Davis takes to Twitter and YouTube to provide his fresh takes on the future of ADA and ETH as the overall crypto market sustains more than a $2 trillion market cap.
Cardano, which is approaching the August launch of smart contracts on its platform, could meteorically rise prior to the release claims Davis.
“Cardano smart contracts in August will probably see the price double in triple in the lead up to the event.”
Back in January, Davis predicted that over the long term, Cardano’s ADA token would easily sail to $1.00 and likely hit $4.00 or $5.00 during the current bull cycle.
ADA, the seventh-largest crypto asset by market cap, is trading at around $1.33 at time of writing.
Looking at Ethereum, Davis says it is poised to appreciate by at least 300% as well this bull run, noting that buying the top smart contract platform under $3,000 is still a steal.
“In 2021, Ethereum becomes deflationary and moves to proof of stake. Buying under $3,000 is still cheap!”
The reason why Davis believes $3,000 is such a low price tag for ETH is that the trader suspects it will reach $10,000 during this bull market.
“We’re only one-third to a half of the way through this current market cycle and Ethereum is already getting close to $3,000. Let’s fast forward six to twelve months, I can easily see Ethereum getting to $10,000.”
Davis notes that $10,000 per coin will put Ethereum at a $1.2 trillion market cap, which is not an insane valuation considering the platform’s dominance in the space.
Even though Ethereum has plenty of competitors, remarks Davis, he still believes that the blockchain will continue to act as the backbone of the crypto space.
“That is only a 1.2 trillion market cap, that’s really not that absurd when you think about it. And that’s just the short term.
This is the fundamental smart contract platform. It is the beating heart of the cryptocurrency industry. Things are priced in Ethereum. You see it being the heart of DeFi (decentralized finance), the heart of NFTs (non-fungible tokens), token launches, all other stuff. And yes there are many other blockchains coming up…
And I do believe in the vision, one network, many chains. So in the future, it’s not going to be such a heavy level of dominance by Ethereum, but just because there is going to be one network and many chains does not mean that all these chains are going to have an equal share of the market. I think that when ETH 2.0 comes out, Ethereum will maintain its complete dominance on the market.”