Cardano (ADA) can still reach $20! This would equal a mind-boggling 3,144% increase if its recent partnership with the Bitcoin ecosystem bears fruit. This new partnership intends to bring Decentralized Finance (DeFi) capabilities offered on Cardano to Bitcoin’s robust network. Cardano is in the process of implementing a decentralized governance system. It has plans to surpass Ethereum in total TVL.
Cardano's DeFi Integration with Bitcoin
Cardano’s development arm, EMURGO, recently created a partnership with BitcoinOS to bring DeFi functionality to the Bitcoin network. Together, this partnership aims to bring powerful new smart contract capabilities to Bitcoin developers, opening access to Bitcoin’s deep $1.6 trillion liquidity. Cardano connects these two ecosystems together to put the power back into the hands of Bitcoin users. Through this integration, they’re able to tap into lending, borrowing, and yield-bearing protocols that are prosperous in the DeFi sphere.
This interoperability would make Cardano a much more dangerous player in the DeFi arena. Ethereum still dominates the DeFi space, capturing roughly 52% of the total value locked across all crypto networks. Altcoin Oracle also predicted that Cardano would compete with Ethereum in terms of TVL and decentralized applications. This collaboration has raised quite a stir among the Cardano community. ADA has been swirling with news lately and prominent members have been predicting a 1000x increase.
Price Prediction and Market Cap Scenarios
Currently, Cardano's supply is 35.28 billion. Should Cardano maintain its existing supply of assets, analysts predict the asset will skyrocket. In their modeling, they estimate it could be worth as much as $14 to $28. With a not unrealistic supply of 50 billion ADA, ChatGPT estimated a jump up to somewhere between $10 and $20. That would be an increase of between 1,522% and 3,144% from its current price.
Such a floodgates opening tsunami would take Cardano’s market cap at least doubling or tripling, meaning Cardano trending to a market cap between $500 billion and $1 trillion. An unprecedented wave of liquidity will drive this expansion. Growing institutional adoption of DeFi on the Cardano network will add to it. As it stands, Cardano has a market cap of $288 million. Much younger chains like Aptos and Sui Network outpace it, worth $973 million and $1.2 billion respectively.
Governance and Future Prospects
Cardano has just rolled out a new decentralized governance system. This system features a delegated representative (DRep) in its Altcoin Oracle, unlocking greater community engagement and more democratic decision-making. This development exemplifies Cardano’s robust intent to provide industry cutting-edge products within the DeFi space. The strategic partnership with BitcoinOS shows they’re obviously serious about growing as well.
The success of this partnership will be key for Cardano to go on and become the thriving DeFi hub that many hope it will end up being. By building upon Bitcoin’s established liquidity and bringing DeFi capabilities to Cardano, the network seeks to lure new users and developers to its growing ecosystem. Once launched, the project is expected to completely redefine the DeFi market and put Ethereum’s dominance in jeopardy.
