First off, I want to say I predicted this unprecedented rise of ADA. On the 11th, I wrote an article stating I was selling all my ERC-20 tokens for ADA. See that article for reference. I have to say I like Charles Hoskinson's style. He called out the haters by clearly rubbing salt in their wounds and Twitter is rather entertaining today, with the ETH crowd clearly upset by the rise of Cardano to the number #3 spot, just under ETH for market cap.
At this time 2/27/2021, ADA sits at $1.28 after a relatively small sell-off, and what I would consider a buying price now if interested, or if you are a risk-taker it might fall back to $1 (No guarantee). A lot of people bought for pennies, and you can't blame them for wanting that house or Lambo.
I am going to make another prediction at this time.
In the spirit of Hoskinson, and going to spit into the wind and people like BitBoy Crypto, who is telling you to hold your ETH, who is predicting a price to upwards of $10,000 per ETH.
I predict the opposite, ETH 1.0 is near or close to the highest price it will ever see. This is based on its current use and its stingy gas fees. Now ETH fanboys are up in arms against ADA saying things like ADA is no good because it is POS (Proof of Stake) which ironically is what ETH 2.0 is supposed to become in the future, eliminating the gas fees, yada, yada, yada.
The truth is that many tokens in the ERC-20 program (ETH's token program) are already planning on migrating from Etheriuem to Cardano's network. Cardano is releasing an update to allow users to create their own tokens similar to the ERC-20 tokens. This update is coming in days, not years. Included in this update, is a bridge for those assets on the ETH network to transfer over to Cardano in a smooth transition.
OH, NO THE MINERS!
ETH is largely backed and supported by mining, and back and supported by the miners. Of course, they want to see it succeed. Who can blame them? However, with time those sentiments will go away. There will be no more mining after the so-called ETH 2.0. So this tells us that support for ETH will start to wane once the miners no longer have reason to back it. The only ones remaining will the ones with large bags and they won't be buying, putting the ETH ecosystem into a downward spiral.
Of course, some ERC-20 tokens will remain on ETH, mainly because of the fall of ETH gas fees, and the fall of ETH price. But knowing this, it should concern anybody holding ETH right now, because the price of ETH will fall dramatically. This is not taking into account any bugs or other problems that arise with the ETH 2.0 rollout.
Simply put, Cardano has already fixed the problem that ETH will be seeking to fix. It has taken them a little longer, but now it appears they are taking the lead. That right, I said the lead. Maybe not in market cap, but what happens to ETH's market cap after it falls. Cardano will move into the #2 spot. It is just a matter of time before this happens.
Here is where I am going to stress, to ETH 90's boy band lovers. No, ADA is NOT a SCAM! I am telling you, you really need to do your homework. Cardano is the most decentralized network in the world. The amount of programming that has gone into this project is mind-boggling and we are just at the tip of the iceberg. DO SOME RESEARCH.
Here is a very good video just released on YouTube to get you started:
And Just for fun, here is another one (Warning: Humor):
Conclusion: You better get yourself a bag of ADA!