Cryptocurrency
ETH vs. ADA: Is Cardano or Ethereum a Better Investment in 2024?
![](https://letizo.com/wp-content/uploads/2024/05/eth-vs-ada-is-cardano-or-ethereum-a-better-investment-in2024_66523ba6cd792.jpeg)
Markets got a big spike in Ethereum price this week on crypto exchanges. What’s behind it and what factors can investors take into consideration to determine whether Ether or its friend Cardano is the better buy?
Ethereum has a birthday coming up on July 30. It was launched in 2015 to create a “world computer” with the same Web3 blockchain properties as Bitcoin has for storing cash and making payments.
Cardano was launched on September 23, 2017 by initial coin offering (ICO) and founded by an Ethereum co-founder, Charles Hoskinson. Today it’s the 10th largest cryptocurrency by market capitalization.
Ethereum Market Cap (May 22): $451.8 billion
Cardano Market Cap (May 22): $17.2 billion
Certain differences between the two cryptocurrencies are an advantage for one or the other and a good reason to be bullish or bearish for ETH or ADA tokens.
But some of the two networks’ differences are tradeoffs that are more complex to evaluate as yielding an advantage for either crypto. Here are 7 key factors at play in the future Ethereum price against Cardano:
1. ETH vs. ADA – Technical Analysis (a tie)
Ethereum price is nearly all the way back to its ATH (all time high) after spiking this week on Ethereum spot ETF buzz. Cardano has a long way to go. That might actually be more bullish for ADA, with more upside left in its price.
The recent Ethereum ETF approval will shake up the entire meta for investing in Ether. If bulls take the price past $4,000, another 12.5% increase would pump ETH to $4,500— within striking range of the previous Ethereum ATH of $4,721 in Nov. 2021.
Forbes recently mentioned an Ethereum price prediction of $5,000 by the end of 2024. Bitcoin ETF issuer VanEck predicts $11,800 by 2030. An even more bullish outlook forecasts $10,000 ETH by the end of the year.
Over the short term, Cardano technical indicators and moving averages over the weekly span recommended “Sell” on Thursday. Meanwhile, Ethereum technical indicators for the seven-day span recommended “Strong Buy,” according to data from Investing.com.
2. Ether Spot ETF – Regulatory Analysis (bullish ETH)
There’s no denying it. Charles Hoskinson would certainly agree: U.S. regulators seem to favor Bitcoin and Ethereum over Cardano and other DeFi networks.
The SEC said okay to Ethereum futures ETFs in October, revealing it didn’t seem to think of Ether as an unregistered security. However, the U.S. regulator has classified Cardano and other cryptocurrencies as unregistered securities in lawsuits against multiple blockchain companies, while ignoring Bitcoin and Ether.
As Fortune Magazine reported on May 1, “Furthermore, despite launching a number of lawsuits against crypto companies since April 2023, the agency has never named Ether to be a security in its complaints.”
The SEC lawsuit against Ripple has taken years (since Dec. 2020) and still has not yet been resolved. It is costly and leaves the future unsure for the currencies under the government’s crosshairs.
Markets abhor uncertainty.
It may not be fair, but it’s a bullish factor for ETH and bearish for ADA.
3. ADA vs. ETH – Fundamental Analysis (a wash)
Fundamental analysis is the preferred method of investors who are not total degenerates. Instead of chart technical analysis or meme currency voodoo economics, the fundamentalist looks at an investment prospect and asks what would “The Intelligent Investor” author Benjamin Graham do if he were here?
Graham says:
“The intelligent investor is a realist who sells to optimists and buys from pessimists. In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
If a business’s expected future revenues discounted to the present day exceed its current market value, then it may be a good investment. If they match or fall short of the business’s market cap, then it may be a poor investment.
ADA: $263.8 million TVL (3% annual reward rate + 121% annual growth rate) / Market Cap: $16.4 Billion
ETH $64.9 Billion TVL (5.5% annual reward rate + 145% annual growth rate) / Market Cap: $453 Billion
Going by the data above without any further context, it appears Cardano would be the winner, because its inflows make up a much smaller portion of its market cap than Ethereum (0.019 to 0.22), but only if we expect it to grow at the same rate as Ethereum in the future.
The lopsided institutional adoption between the two will make that difficult for Cardano unless it finds a use case, a feature/benefit, and a narrative that shakes up the retail Internet markets for cryptocurrency.
4. Cardano vs. Ethereum – Gas Fees (cat’s game)
There are lower and more predictable fees on Cardano, but higher fees on Ethereum are also a feature, not necessarily a bug. They make it more expensive to misuse the network for cybercrime that doesn’t pay, so it’s more secure. Big institutions like that.
That’s one reason why the industry leader, Bitcoin’s slow, expensive network, with a low transaction bandwidth holds its capital so well. In many ways these built-in costs qualify participants better than Know Your Customer policies and automatically and without discriminating on any basis other than ability and willingness to pay the network’s fees.
Still for newcomers, enterpreneurs, startups, and investors starting out with a smaller cash pile, smart contract blockchain networks with lower fees like Cardano have an advantage. Transaction fees on both networks are highly variable and spike during periods of high network use.
5. Ease Of Use – Cardano (another tie)
Some people in Web3 feel Ethereum has an ease-of-use problem. It’s become too overgrown with complicated, byzantine layers on top of layers, creating a steeper learning curve and potential security threats.
Blockchain advocate Daniel Cawrey wrote in a recent opinion article on Blockworks:
“Ethereum is becoming a multilayered lasagna-like system whereby complexity and fees are pushing people to the margins, causing interoperability and security concerns.”
While true, much like Ethereum’s higher transactions fees— the complexity of Ethereum may be a reason to be bullish for ETH. It could simply be proof of the network’s success. As Cawrey acknowledges in the piece, the network is beginning to achieve its “world computer” concept.
Any computer architecture expert would be hard-pressed to explain how a Turing-complete global computer that anyone can use on a peer-to-peer network would become anything but a flying spaghetti monster of complexity.
6. Ether vs. Cardano Whales (bullish ADA)
A massive 15,000 ETH whale deposit to Kraken on May 18 spotted by Whale Alert suggested a bear run on Ether by whales could be incoming, but after the SEC approved the spot Ethereum ETF a surge in whale-sized transactions has been net positive for the network, according to IntoTheBlock data.
Meanwhile, Cardano whales have been extremely bullish for ADA in May. They boosted holdings in Cardano tokens by 11% in a month. Whales tend to be smart money with some of the most advanced analytics and market outlooks to know what they’re doing, so that’s positively bullish for Cardano.
https://x.com/intotheblock/status/1790774801277042863
7. Ethereum vs. Cardano Memes (bullish ETH)
Meme coins are a definite advantage for Ethereum. While Cardano does have meme coins, none of them are notable and they have not topped the market cap charts like Ethereum’s SHIB, PEPE, and FLOKI.
Cardano has succeeded in making a simpler, lower-fee Ethereum, but crypto markets tend to reward projects that leaven their technology with some meme karma. Maybe an Orange Pill Moon Boys NFT collection or something with a dog on it would do the trick.
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Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
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TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
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Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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