Speaking in a recent Ask-Me-Anything (AMA) session, Hoskinson, who co-founded Ethereum before launching Cardano, expressed concerns over Ethereum’s long-term viability. He suggested that Ethereum’s reliance on layer 2 solutions—such as Optimism, Arbitrum, and Base—could ultimately lead to its collapse. These solutions, designed to scale the network, are drawing value away from Ethereum’s core, creating fragmentation that could weaken the platform’s cohesion and governance.
Hoskinson likened Ethereum to outdated tech giants like BlackBerry and Myspace, warning that its growing fragmentation, along with the exodus of users to other platforms like Solana and Bitcoin DeFi, may spell its downfall. He also criticized Ethereum’s transition to a rollup-centric architecture, questioning the effectiveness of its proof-of-stake model and its accounting and virtual machine systems for the next generation of blockchain applications.
Cardano’s Price Action Shows Bullish Momentum
In contrast, Cardano has recently experienced a price recovery, gaining 2.88% to close at $0.7178. The price has been steadily increasing from recent lows, with strong buyer support at key levels. Cardano’s price has broken above its 50-day simple moving average at $0.6866, signaling potential further upside.
This upward momentum, coupled with strong buyer accumulation, supports a positive outlook for Cardano. The 200-day moving average suggests a potential price target of $0.80, aligning with bullish market sentiment. However, risks remain, as Cardano’s price faces resistance at the 200-day moving average, and failure to hold above the $0.6866 level could trigger a pullback toward $0.6153.
Outlook: Cardano vs Ethereum
While Hoskinson’s prediction about Ethereum’s future raises eyebrows, Cardano’s current bullish trend highlights its growing strength in the market. As Ethereum faces technical and market challenges, Cardano may continue to gain traction with its more robust and scalable framework.
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