Clear out ETH for ADA? Is the doubling prophecy a pie in the sky or a trap?
Recently, some people have been crazily shouting to clear out ETH and switch it all to ADA, swearing that the exchange rate must double. This life-or-death recommendation is fundamentally untenable; let's get straight to the facts:
On the technical side, the ADA/ETH exchange rate has recently fluctuated between 0.53 and 0.62, with indicators showing bearish dominance. The price has dropped into the oversold zone, yet no one is stepping in, and trading volume is clearly decreasing, indicating it is likely to drop further. Doubling? Let's first break through the 0.62 barrier!
On the fundamental side, Cardano is indeed upgrading and integrating a Bitcoin Layer2, which theoretically could attract Bitcoin funds. But the reality is that Ethereum's DeFi ecosystem and NFT market have matured, and institutional holdings lean more towards ETH. Although the number of DApps in ADA has increased by 300%, user activity is far behind Ethereum.
The key point is that these promoters only highlight the positives and never mention the risks! While Bitcoin reaching new highs can indeed heat up the market, will the funds flow into ADA or continue to speculate on ETH? U.S. regulatory bills could crash the market at any time, and if Cardano's cross-chain technology fails to take off, this operation could turn into a high-position watch in an instant.
No signals on the technical side, and fundamental risks are present. If you want to play, focus on the 0.53-0.62 range for short-term trading, and consider waiting until Cardano's technology is truly implemented before making long-term decisions.
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