At the recent Rare Evo conference, Cardano founder Charles Hoskinson boldly predicted that ADA will one day become the biggest cryptocurrency globally, surpassing titans like Bitcoin and Ethereum.
“Cardano is going to become the backbone of a new digital nation,” Hoskinson said, with lofty ambitions for the network to facilitate greater trust and transparency.
However, ADA has faced recent struggles in the market, dropping 15% over the past month amid the broader crypto downturn. The token now holds the 7th spot by market capitalization as Hoskinson aims for the top position long-term.
Additionally, the SEC has labeled ADA a security in recent lawsuits, drawing strong rebuttals from the Cardano team. Despite having the 6th highest all-time NFT sales, Cardano trails networks like Bitcoin and Base in weekly trading volume and DeFi TVL locked on-chain.
While ADA has seen setbacks on its mission, Hoskinson remains unfazed in his vision for Cardano to reign as the premier global cryptocurrency. But the road to becoming number one remains challenging.
