Crypto commentator Eric Wall has ignited a firestorm within the Cardano community with a bold and scary prediction of ADA’s exit from the top 10 digital assets by year’s end.
This forecast shared on X, sent shockwaves through the Cardano faithful, particularly due to Wall’s established reputation for insightful cryptocurrency commentary.
Read Also: Charles Hoskinson Shares Major Updates on Cardano (ADA) Innovations and Progress
Adding fuel to the flames, Wall suggested that Polygon (MATIC) would usurp ADA’s position, further amplifying the community’s fear and uncertainty. Despite predictions of massive surges of up to 2000% for Cardano, Wall believes 2024 will not be ADA’s year.
To fight this, past inaccuracies in Wall’s predictions regarding late 2021 and early 2023 were dug up, leading Cardano loyalists to express their doubts openly. This is not the first time Wall has shared negative predictions for Cardano but the digital asset has defied him at every turn.
Cardano founder Charles Hoskinson responded with a sarcastic GIF showing the caption, “Well… we’re waiting!”
Cardano (ADA) remains firmly in eighth place on CoinMarketCap, boasting a market cap of $18.4 billion. ADA is trading at $0.5222, with a strong 7.36% surge over the last 24 hours and no signs of slowing down.
Next to Cardano (ADA) on the crypto ranking log is Avalanche (AVAX), with $12.8 billion in market capitalization.
Hoskinson, who already predicted a remarkable 2024 for Cardano, has always been a strong defender of his cryptocurrency, and the community is firmly behind him.
Wall’s predictions extend far beyond Cardano, encompassing a diverse range of crypto developments for 2024. Notably, he anticipates Bitcoin reaching a new all-time high, a potential bottom for the ETH/BTC ratio, and he believes the community will get another chance to buy BTC below $35,000.
However, Wall also foresees challenges for Bitcoin maximalists. He anticipates ongoing struggles in censoring Ordinals and the initiation of a new soft fork activation process. Most intriguingly, he speculates on the highly improbable scenario of a Bitcoin halving block reorganization due to Miner Extractable Value (MEV) issues.
Read Also: Charles Hoskinson: Our Challenge Is For Cardano (ADA) to Become Biggest Crypto
Despite some uncertainty caused by recent whale activity, Cardano (ADA) seems to be performing fine. With the 2024 Bitcoin halving around the corner, all signs point to a good year for the digital asset, despite Wall’s bearish predictions. It has surged 14.4% over the past seven days, and although it has not reclaimed the $0.62 level it began the year with, it is inching closer.
Follow us on Twitter, Facebook, Telegram, and Google News
The cryptocurrency sector remains a hotspot for investors aiming to capitalize on groundbreaking opportunities. Understanding…
In a recent interview with Tony Edward on the Thinking Crypto podcast, Simon McLoughlin, CEO…
While Cardano battles price instability, dropping by 22% before a sharp recovery to $0.7750, Polkadot's…
Amid a bearish market outlook in recent days, characterized by mostly sideways trading across several…
Singapore, Singapore, May 15th, 2024, ChainwireA major event in Cosmos is the recent passing of…
Infinite Block, a prominent South Korean virtual asset service provider, has officially joined the XRP…