Speaking at the Rare Evo blockchain and cryptocurrency convention, Cardano founder and Ethereum co-founder Charles Hoskinson said he believes ADA will eventually become the biggest cryptocurrency in the world. In his view, Cardano is not just building another digital asset network, but a foundation for a new kind of digital nation and society built on stronger, verifiable trust.
Hoskinson argued that Cardano’s ambition goes beyond the traditional tech principle of “don’t be evil.” Instead, he described a system designed around the idea of “can’t be evil”, where the architecture itself helps reduce the need for blind trust. He said this vision could ultimately allow Cardano to surpass both Bitcoin and Ethereum in the global crypto rankings.
Bold vision meets weak market performance
Despite that optimism, ADA’s recent market performance has been under pressure. According to the report, ADA is down 15.2% against the U.S. dollar over the past month, with a 9.2% decline over the last two weeks. By market capitalization, the token currently ranks seventh among cryptocurrencies. That gap between long-term ambition and near-term price weakness stands out clearly.
Cardano is also dealing with regulatory friction. In lawsuits brought by the U.S. Securities and Exchange Commission, ADA was identified by regulators as a security. Cardano’s development team pushed back directly, stating that under no circumstances is ADA a security under U.S. securities laws. The disagreement remains a meaningful overhang for investor sentiment.
Competition in DeFi and NFTs remains intense
On the ecosystem side, Cardano currently holds about $161.8 million in total value locked across its DeFi sector. However, Base, the Coinbase-backed blockchain launched only weeks earlier, has already moved ahead with $185.53 million in TVL. The comparison highlights the pressure Cardano faces from newer chains competing for users and capital.
In NFTs, Cardano ranked eighth in weekly sales, trailing Bitcoin, with $1,507,729 in digital collectible sales over the last seven days. On an all-time basis, though, Cardano still ranks sixth, with cumulative NFT sales of $612,699,836. Taken together, Hoskinson’s remarks reflect a sweeping long-term vision, but Cardano still faces real hurdles in price action, regulation, and ecosystem growth before it can challenge for the top spot.