Charles Hoskinson, founder of Cardano, predicts Ethereum may shut down in 10-15 years due to over-reliance on Layer 2 networks. Despite his claims, Ethereum sees price rebounds and bullish sentiment from holders. In contrast, Cardano’s ADA surges with growing trading volumes, while Remittix stands out for simplifying cross-border crypto payments.
Charles Hoskinson, the founder of Cardano (ADA), has recently stirred the pot with a controversial prediction regarding Ethereum. He claims that Ethereum only has about 10 to 15 years left before it faces complete shutdown. His reasoning revolves around the platform’s increasing dependence on Layer 2 networks, which, according to him, dilute Ethereum’s core functionalities by drawing computational resources away. This bold declaration has sparked various discussions across Twitter and other social media platforms.
But despite Hoskinson’s stark warning, Ethereum has shown resilience. Though the cryptocurrency’s price has dropped significantly—down 42% this year and 13.6% in the past month—holder sentiment seems surprisingly optimistic. A survey conducted on CoinMarketCap indicates that around 80% of Ethereum holders remain confident in a potential price resurgence for the platform. In fact, Ethereum has enjoyed a rebound, with a notable 14% increase in value in just two weeks as the broader market also begins to recover.
While Hoskinson’s comments might dampen the mood for some, it hasn’t stopped Ethereum-based Layer 2 projects from upgrading their networks. These improvements are aimed at reducing gas fees and enhancing overall performance, keeping the ecosystem competitive and functional. Some analysts even suggest that Ethereum could exceed Bitcoin’s dominance, thanks to its price movements that indicate a breakout from a descending wedge pattern.
Turning to Cardano, its ADA is experiencing a surge as trading volume jumps by 37%, pushing it past the $1 billion threshold. ADA’s price has climbed to about $0.72 recently. Following this momentum, Hoskinson has increased his critiques of Ethereum, drawing parallels between its fate and past tech giants like Myspace and Blackberry, which lost their market relevance as they became too complicated. Additionally, he unveiled ongoing developments and partnerships, including a collaboration with Ripple’s RLUSD stablecoin.
In spite of the competitive landscape, Cardano’s ADA has shown impressive growth, currently reflecting a 16% rise and a staggering 54% increase year-to-date. This reflects a significant shift in market conditions, which Cardano supporters hope will take the platform even further.
Meanwhile, while the focus shifts between Ethereum’s challenges and Cardano’s growth, a new player is making waves in this space. Remittix, a budding crypto-focused platform, is leading the way in revolutionising cross-border payments with its innovative model. The Remittix presale has successfully captured over $14.5 million, supporting its efforts to connect crypto and traditional payment systems without the usual hassles. Users can send crypto payments directly from their wallets to bank accounts globally, without convoluted crypto wallet complications.
Additionally, transaction fees are straightforward—there are no hidden charges, just a flat fee for each transaction. Businesses aren’t left out; the Remittix Pay API empowers merchants to accept crypto payments easily. With a cap of 1.5 billion RTX tokens available, early investors can snag half of this supply before the launch, with RTX now priced at $0.0757, appealing to those looking for a bargain. There’s a significant momentum to watch here.
To discover more about the future of PayFi and Remittix, check out their presale links.
