Cardano (ADA) Tops $0.70 as Founder Predicts Ethereum Collapse

input: Cardano rivals like Avalanche, Solana, Polkadot, NEAR, and Algorand are gaining market share as Ethereum faces scalability challenges.

Cardano (ADA) prices rose above $0.70 on Wednesday, notching a weekly gain of 12.2%.

Cardano founder Charles Hoskinson predicts that Ethereum will collapse by 2040 due to scalability and governance issues.

Cardano rivals like Avalanche, Solana, Polkadot, NEAR, and Algorand could benefit if Ethereum’s market share continues to shrink.

Cardano (ADA) prices continued to recover this week, trading above $0.70 on Wednesday.

Cardano: Key Levels to Watch

The token rose by 12.2% for the week, closing above a key resistance zone at $0.68-$0.70, a level it last breached in February 2024.

Cardano Technical Analysis: Bulls Take Charge as ADA Breaks Above Crucial Resistance

While the broader cryptocurrency market showed signs of weakness, ADA found strength, potentially benefiting from comments by Cardano founder Charles Hoskinson.

In an interview with CNBC, Hoskinson, an original co-founder of Ethereum, stated that the blockchain network faces an uncertain future due to scalability and governance limitations, which could lead to Ethereum’s collapse within the next 15 years.

“Without fundamental reform, I think [Ethereum] will disintegrate by 2040,” Hoskinson said, adding: “There are huge problems that still need to be solved.”

Cardano Founder Predicts Ethereum Will Collapse by 2040

Long-standing market concerns regarding Ethereum’s technical roadmap and its transition toward rollups and modular scaling, including recent updates such as Dencun, have sparked pessimism among crypto analysts.

These factors, along with the threat of U.S. institutional inflows, could see Ethereum rivals gain more ground in the months ahead.

Cardano Rivals to Watch if Ethereum Collapses by 2040

Notably, Hoskinson co-founded Ethereum before exiting to found Cardano.

His prediction of Ethereum’s collapse, which carries weight in the crypto community, comes as several major ETFs tracking these rivals await the Securities and Exchange Commission’s (SEC) approval.

If Ethereum continues to lose market share, Avalanche (AVAX), Solana (SOL), Polkadot (DOT), NEAR Protocol (NEAR), and Algorand (ALGO) are some 5 Cardano rivals to watch in the months ahead, based on recent price trends, ETF filings and institutional demand for these assets.

1. Avalanche (AVAX)

Current AVAX Price: $22.43, up 12% for the week.

VanEck’s spot Avalanche ETF filing entered SEC review in April.

Avalanche’s high transaction throughput, customizable subnets, and enterprise integrations strengthen its case as a scalable smart-contract platform.

2. Solana (SOL)

Current SOL Price: $149.23, up 6.9% for the week.

Solana ETF applications by Franklin Templeton, Grayscale, and VanEck remain under SEC evaluation, with decision deadlines in October according to Bloomberg chief ETF analyst Eric Balchunas.

Solana’s fast transactions through-put and growing decentralized finance (DeFi) traction continues to drive institutional and developer interest.

3. Polkadot (DOT)

Current Polkadot Price: $4.27, up 10% for the week.

Nasdaq submitted an application to list a 21Shares Polkadot ETF, pending SEC approval.

4. NEAR Protocol (NEAR)

Current Price: $2.64, up 21% for the week.

Bitwise filed for a NEAR ETF in April, highlighting accelerating institutional demand.

5. Algorand (ALGO)

Current Price: $0.2287, up 18.8% for the week.

21Shares listed Algorand ETPs across European exchanges, but no current U.S. ETF filings.

In summary:

Hoskinson’s assessment of Ethereum’s future attests to growing concerns surrounding the long-term viability of the pioneer smart-contract blockchain network. Despite a leadership shuffle at the Ethereum Foundation in early March, key on-chain benchmarks like scalability, governance, and decentralization resilience remain clouded under pessimism.

As regulatory clarity improves and technological differentiation widens, Cardano rivals like platforms like Avalanche, Solana, Polkadot, NEAR, and Algorand, capable of meeting those demands are expected to gain market share.

Frequently Asked Questions (FAQs)

1. Why does Charles Hoskinson believe Ethereum will collapse by 2040?

2. Which Cardano rivals are expected to grow if Ethereum fails?

3. What is the significance of the recent ETF filings for these rivals?