Recently, popular crypto analyst and trader Benjamin Cowen outlined how Cardano can follow in the footsteps of Ethereum to achieve even greater success.
In a video released on the eve of the launch of smart contracts support on the Cardano mainnet, i.e. the Alonzo hard fork combinator (HFC) event, Cowen told the over 538K subscribers of his YouTube channel that Cardano could build upon Ethereum’s success by emphasizing application adoption.
Cowen highlighted Ethereum’s widespread use for multiple protocols, including non-fungible tokens (NFTs) and decentralized finance (DeFi), whih cause users to hoard and spend ETH. The market strategist said Ethereum’s applications have been a large contributor to its market capitalization.
According to Cowen, Cardano has yet to achieve a similar level of adoption of app utilization. However, Cowen predicted Cardano’s ecosystem and network effect would continue to grow, leading to a positive impact on price. SOURCE Crypto Analyst Explains How Cardano ($ADA) Can Emulate Success of Ethereum ($ETH) | Cryptoglobe