Cardano wants to become the first $1 trillion cryptocurrency

24 Jul, 2018
by Matthew Kim
News
 Cardano wants to become the first $1 trillion cryptocurrency

Founder of Cardano, Charles Hoskinson, says that he would “love” for the ADA project to become the world’s first trillion dollar cryptocurrency project. Does it have a chance?

Currently sitting with a market cap of $4.4 billion, Cardano is ranked 8th on the list of cryptocurrencies. Because of its large supply, ADA tokens are still low in price, valuing at $0.17 at the time of writing. With the current circulating supply of 25.9 billion ADA tokens, each token would be worth about $38.57 with the market cap at a trillion dollars. That would be a growth of over 22688 percent.

The 1 trillion market cap is the milestone that Apple, Google, and Amazon are in a close race to break. The surpassing of the $1 trillion threshold will surely be a monumental achievement. Each of the potential companies is a legendary company that has firmly established an empire over the past decades.

Cardano, on the other hand, is a two year old project that has yet to offer a real product to the world. For Cardano to break the $1 trillion mark, it will undoubtedly have to survive a long period of time. But cryptocurrency projects have a record for possessing small lifespans (other than Bitcoin). Take a look at the snapshot of the top 10 cryptocurrencies from 5 years ago:

Recognize any other than Bitcoin or Litecoin?

This is not to say that Cardano has no chance of breaking the $1 trillion market capitalization. Cardano is a very promising project on paper. However, at this point the goal is clearly a long shot. Perhaps the idea would be more palpable when the current roadmap is accomplished.

Read more about: Cardano (ADA)

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