Markets
Is Cardano or Ethereum a Better Investment in 2024?

The markets have seen a sharp increase in the price of Ethereum on cryptocurrency exchanges this week. What’s behind it and what factors can investors consider to determine whether Ether or its friend Cardano is the better buy?
Ethereum will have its birthday on July 30th. It was launched in 2015 to create a “world computer” with the same Web3 blockchain properties as Bitcoin for storing cash and making payments.
Cardano was launched on September 23, 2017 via initial coin offering (ICO) and founded by an Ethereum co-founder, Charles Hoskinson. Today it is the tenth largest cryptocurrency by market capitalization.
Ethereum Market Cap (May 22): $451.8 billion
Cardano Market Cap (May 22): $17.2 billion
Some 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 differences between the two networks are more complex trade-offs to evaluate as they bring an advantage to both cryptocurrencies. Here are 7 key factors at play in the future Ethereum price against Cardano:
1. ETH vs. ADA – Technical Analysis (a draw)
Ethereum price is almost back to its all-time high (all-time high) after seeing a spike this week due to Ethereum spot ETF rumors. Cardano still has a long way to go. This could actually be more bullish for ADA, with more upside room in its price.
THE recent The approval of Ethereum ETF will shake up the entire meta for investing in Ether. If bulls take the price above $4,000, another 12.5% increase would push ETH to $4,500, within an impressive range from Ethereum’s previous ATH of $4,721 in November 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 calls for $10,000 of ETH from the end of the year.
In the short term, Cardano technical indicators and weekly moving averages recommend “Sell” on Thursday. Meanwhile, Ethereum seven-day technical indicators recommend a “strong buy,” according to data from Investing.com.
2. Ether Spot ETF – Regulatory Analysis (ETH Bullish)
There’s no denying it. Charles Hoskinson would certainly agree: US regulators appear to favor Bitcoin and Ethereum Above Cardano and other DeFi networks.
The SEC gave the green light to Ethereum futures ETFs in October, revealing that it did not appear to consider Ether to be an unregistered security. However, the US regulator classified Cardano and other cryptocurrencies as unregistered securities in lawsuits against several blockchain companies, ignoring Bitcoin and Ether.
Like Fortune magazine reported above May 1: “Furthermore, despite filing a series of lawsuits against cryptocurrency companies since April 2023, the agency has never named Ether as a security in its complaints.”
The SEC’s lawsuit against Ripple has been years in the making (since December 2020) and has not yet been resolved. It’s expensive and leaves the future uncertain for currencies in the government’s sights.
Markets hate uncertainty.
It may not be right, but it is bullish for ETH and bearish for ADA.
3. ADA vs. ETH – Fundamental Analysis (a wash)
Fundamental analysis is the preferred method for investors they are not totally degenerates. Instead of technical analysis of charts or voodoo meme currency economics, the fundamentalist looks at an investment perspective and asks what “The Intelligent Investor” author Benjamin Graham would 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 company’s expected future revenues discounted to date exceed its current market value, then it may be a good investment. If they match or fall short of the company’s market capitalization, it may be a poor investment.
ADA: $263.8 million TVL (3% annual reward rate. + Annual growth rate of 121%.) / Market capitalization: $16.4 billion
ET $64.9 billion TVL (5.5% annual reward rate. + Annual growth rate of 145%.) / Market capitalization: $453 billion
Looking at the data above without further context, it seems that 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 time. currency like Ethereum in the future.
Imbalanced institutional adoption between the two will make this difficult for Cardano unless it finds a use case, a feature/benefit, and a narrative that shakes up the cryptocurrency retail internet markets.
4. Cardano vs. Ethereum – Gas Fees (A No-brainer)
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. Great institutions like that.
This is one reason why the industry leader, Bitcoin’s slow and expensive network, with low transaction bandwidth, holds its capital so well. In many ways these integrated costs qualify participants better than Know Your Customer policies and automatically and without discrimination on any basis other than ability and willingness to pay network fees.
However, for newcomers, entrepreneurs, startups, and investors starting with a small amount of liquidity, smart contract blockchain networks with lower fees like Cardano have an advantage. Transaction fees on both networks are highly variable and peak during periods of high network usage.
5. Ease of Use – Cardano (another tie)
Some people at Web3 believe that Ethereum has an ease of use problem. It has become too overgrown with complicated, byzantine layers upon layers, creating a steeper learning curve and potential security threats.
Blockchain advocate Daniel Cawrey wrote in a recent opinion piece on Blockworks:
“Ethereum is becoming a multi-layered lasagna-like system where complexity and fees are pushing people to the sidelines, causing interoperability and security issues.”
While that’s true, just like Ethereum’s higher transaction fees, Ethereum’s complexity could be a reason to be bullish on ETH. It may simply be evidence of the network’s success. As Cawrey acknowledges in the article, the Internet is beginning to realize his “world computer” concept.
Any computer architecture expert would have difficulty explaining this as to A Turing-complete global computer that anyone can use on a peer-to-peer network would become anything but a flying monster of complexity.
6. Ether vs Cardano Whales (ADA Bullish)
A massive 15,000 ETH whale deposit at Kraken on May 18 spotted by Whale Alert suggested that a bear run on Ether by whales could be on the way, but after the SEC approved the Ethereum spot ETF it There was a whale-sized increase in transactions was net positive for the network, according to IntoTheBlock data.
Meanwhile, Cardano whales were extremely bullish on ADA in May. They enhanced participations in Cardano tokens by 11% in one month. Whales tend to be smart with some of the most advanced market analysis and perspectives to know what they are doing, so this is positively bullish for Cardano.
https://x.com/intotheblock/status/1790774801277042863
7. Ethereum vs. Cardano Memes (ETH Bullish)
Meme coins are a distinct advantage for Ethereum. While Cardano has meme coins, none of these are noteworthy and have not topped the market cap charts like Ethereum’s SHIB, PEPE, and FLOKI.
Cardano managed to create a simpler, lower-fee Ethereum, but cryptocurrency markets tend to reward projects that imbue 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.
Markets
Bitcoin, Ethereum See Red as Markets Crash on Volatility

Bitcoin AND Etherealalong with the rest of the top 10 cryptocurrencies by market cap, appear to be in hibernation on Thursday morning.
At the time of writing, the Bitcoin Price is still below $65,000 and 2.2% lower than it was this time yesterday, according to CoinGecko data. Things are worse for the Ethereum Pricewhich is 3.7% lower than 24 hours ago at $3,185.22. The drop in ETH’s price is identical to that of Lido Staked Ethereum (stETH), a liquid staking token for Ethereum.
In recent days, falling prices have led to the liquidation of derivative contracts worth $225 million, according to Coin glassAnd about half of that, about $100 million, was liquidated in the last 12 hours.
When a trader is liquidated, it means that their position in the market has been forcibly closed by an exchange or brokerage due to a margin call or insufficient collateral. Margin is especially important when it comes to leveraged positions, which allow traders to control a multiple of their deposit, such as opening a $10,000 position with only $1,000 in their account.
Now that Bitcoin has been in the red for three days in a row, there is a chance that the world’s oldest and largest cryptocurrency could sink even further, BRN analyst Valentin Fournier said in a note shared with Decrypt.
“Bitcoin has closed in the red for three days in a row, with one-way trading showing limited resistance from bulls. Ethereum had a slightly positive Monday with strong resistance from bears who have won the last two days,” he wrote. “This momentum could take BTC to the $62,500 resistance or even the $58,000 territories.”
Looking ahead, Fournier said BRN’s strategy will be to “reduce exposure to Bitcoin and Ethereum and find a better entry point after the dip.”
This is despite Federal Reserve Chairman Jerome Powell’s comments yesterday on interest rates being widely regarded as accommodating and indicative of FOMC rate cuts in September.
Singapore-based cryptocurrency trading firm QCP Capital said the rally in stocks, which sent the S&P 500 up 1.6% from Wednesday’s close, was not felt in cryptocurrency markets.
“Cryptocurrencies have seen a broad sell-off overnight and into this morning,” the firm wrote in a trading note. “The market remains poised as traders pay close attention to daily ETH ETF outflows and further supply pressure from Mt Gox and the US government.”
Meanwhile, the other top-ranking coins are showing mixed performance.
Solana (SOL) is down 7.2% since yesterday to $169.13. Things are even worse for its most popular meme coins. In the past 24 hours, the most popular meme coins Dogwifhat (WIF) are down 12% and BONK (BONK) is down 9%, according to CoinGecko data.
Their dog-themed competitor, Ethereum OG Dogecoin (DOGE), the only meme coin in Coingecko’s top 10, is down nearly 4% since yesterday and is currently trading at $0.1205.
XRP (XRP) dropped to $0.608, which is 7% lower than it was at this time yesterday.
Binance’s BNB Coin (BNB) has kept pace with BTC and is currently trading at $571, down 2.4% from yesterday. Toncoin (TON), the native token of The Open Network, is down just 0.4% over the past day.
This leaves the stablecoins USDC (USDC) and Tether (USDT), both of which are stable as they maintain their 1:1 ratio with the US dollar.
Markets
XRP Market Activity Drops During Ripple-SEC Talks: Price Steady

The Securities and Exchange Commission (SEC) will hold another closed-door meeting with Ripple on Thursday, as the market hopes for a possible resolution to the legal battle between the two entities.
However, the cryptocurrency market remains relatively bearish, with the price and trading volume of XRP down in the last 24 hours.
Ripple holders take no risk
At press time, XRP is trading at $0.60. The altcoin’s price has dropped 6% over the past 24 hours. During that time, trading volume was $27 million, down 27%.
The SEC met before with the digital payment company on July 25. While the outcome of that meeting remains unknown, the Sunshine Act Notice for Thursday’s meeting includes one additional topic of discussion from the July 25 closed meeting: the instituting and resolving injunctive relief. That has market participants speculating whether a settlement is imminent.
In an exclusive interview with BeinCrypto, Ryan Lee, Lead Analyst at Bitget Research, noted that:
“This meeting will discuss possible resolution options for the Ripple Lawsuit. The founder of Ripple Labs said that a legal settlement could be announced soon. If an official settlement plan is released, it could positively impact XRP’s price movement.”
However, an assessment of XRP’s price movements on a 4-hour chart shows a spike in bearish bias as the market awaits the outcome of this crucial meeting. Its Moving Average Convergence/Divergence (MACD) indicator readings show that its MACD line (blue) has crossed below its signal line (orange).
XRP 4 Hours Analysis. Source: Trading View
Traders use this indicator to gauge price trends, momentum, and potential buying and selling opportunities in the market. When an asset’s MACD is set this way, it is a bearish signal that suggests selling activity is outweighing buying momentum.
Additionally, the altcoin relative strength index (RSI), at 46.08, is currently below its neutral 50 line and in a downtrend. This indicator measures overbought and oversold market conditions for an asset.
To know more: How to Buy XRP and Everything You Need to Know
XRP 4 Hours Analysis. Source: Trading View
At 43.83 at the time of writing, XRP’s RSI suggests a growing preference among the market participants for tokin distribution.
XRP Price Prediction: Derivatives Traders Exit Market
The XRP derivatives market has also seen a decline in trading activity over the past 24 hours. According to Coinglass, derivatives trading volume has plummeted 18% and open interest has dropped 10% during that period.
Open interest refers to the total number of outstanding derivative contracts, such as options or futurethat have not yet been resolved. When it drops, traders close their positions without opening new ones. This is a bearish signal that reflects a lack of confidence in any potential positive price movement.
According to Lee, the outcome of the meeting with the SEC “would have a significant impact on the price movement of the token.” If the outcome is favorable, the price of the token could rise towards $0.75 in August.
To know more: Ripple (XRP) Price Prediction 2024/2025/2030
XRP 4 Hours Analysis. Source: Trading View
On the other hand, if no favorable resolutions are reached, the price could plummet to $0.50.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto strives to provide accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAND Disclaimers They have been updated.
Markets
Bitcoin’s Dominance Hits Three-Year High, But Analysts Say Altcoins Are Ready to Rebound

Bitcoin is now the dominant force in the cryptocurrency market, surpassing 53% of the total cryptocurrency market, a stronger share than it has been in the past three years.
Bitcoin’s market cap now stands at $1.27 trillion, second according to CoinGecko data. In contrast, the total cryptocurrency market cap is $2.43 trillion, with Ethereum occupying 15.9% of the market, worth $389 billion.
Bitcoin’s rise to dominance this year is unusual, as altcoins typically do better than Bitcoin in a bull market. While meme coins made a strong comeback during Bitcoin’s rally to all-time highs earlier this year, the so-called “wealth effect” It has not been appreciated as much by mid-range coins, such as Ethereum and Cardano.
“ETF flows fundamentally alter market dynamics,” he wrote Meltem Demirors, former chief strategy officer at CoinShares, tweeted Wednesday: “BTC gains no longer translate to alts and the longer tail of crypto.”
Bitcoin’s takeover has continued even as the market cap of Tether (USDT) continues to grow, the world’s largest stablecoin and the third-largest cryptocurrency after BTC and ETH. Stablecoins are backed by fiat currencies and are excluded from some measures of Bitcoin dominance due to fundamentally different value models.
The surge continued to pace even after the launch of Ethereum spot ETFs last week, which ironically culminated in a news sell-off event, and net outflows from new investment products since they were launched. This went against the predictions of K33 Search so far, which predicted that ETFs would catalyze ETH’s growth over the next five months.
Despite the poorer performance of the alts, there is reason to believe that they are ready to bounce back very soon.
CryptoQuant CEO Ki Young Ju said Tuesday that whales are “preparing for the next altcoin rally,” as limit buy orders for assets other than BTC and ETH are on the rise.
The executive shared a chart showing how the “cumulative difference between purchase volume and sales volume” has increased in recent months.
“The indicator measures the difference between buy and sell orders over a year,” CryptoQuant told Decrypt. A buy/sell order is a pre-set request to buy or sell a cryptocurrency if it hits a certain price level, which creates resistance and support levels.
“If the trend is up, it means that more people are placing buy orders, showing strong interest in buying,” CryptoQuant said.
By Ryan-Ozawa.
Markets
XRP and SOL Retrace as BTC Price Drops to 2-Week Lows (Market Watch)

After Monday’s crash, in which BTC fell by several thousand dollars, the scenario has repeated itself once again in the last 12 hours, with the asset falling to a 2-week low of $63,300.
Alt coins followed suit, with most of the market in the red today. SOL and XRP lead the way from the higher cap alts.
BTC Drops To $63.3K
After a violent Thursday last week, when BTC crashed to $63,400, the asset went on the offensive over the weekend and surged above $69,000 on Saturday, as the community prepared for Donald Trump’s appearance at the 2024 Bitcoin Conference in Nashville.
His speech was followed by more volatility before the cryptocurrency settled around $67,500 on Sunday. Monday started off rather optimistically for the bulls as bitcoin hit a 7-week high of $70,000.
However, he failed to maintain his run and conquer that level decisively. On the contrary, he was rejected bad and dropped to $66,400 by the end of Monday. Tuesday and Wednesday were less eventful as BTC remained still around $66,500.
The last 12 hours or so have brought another crash. Bears have pushed the leading digital asset down hard, which has fallen to a 2-week low of $63,300 (on Bitstamp), leaving over $200 million in liquidations.
Despite the current rebound to $64,500, BTC’s market cap has fallen to $1.270 trillion, but its dominance over alts is recovering and has reached 52.6%.
Bitcoin/Price/Chart 01.08.2024. Source: TradingView
The Alts are back in red
Ripple’s native token has been at the forefront of the market challenge in recent days as pumped up to a multi-month high of over $0.66. However, its run was also interrupted and XPR fell by more than 6% in the last day to $0.6.
The other big loser among the larger-cap alternatives is SOL, which has lost 8% of its value and is now struggling to get below $170.
The rest of this altcoin cohort is also in the red, with ETH, DOGE, BNB, AVAX, ADA, SHIB, and LINK all seeing drops between 2 and 5%.
The total cryptocurrency market cap lost another $70 billion overnight, falling below $2.4 trillion today on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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