Surprisingly, the much-hyped activation of smart contracts on the Cardano (ADA) blockchain could stimulate a range of Layer 1 platforms, according to DeFiance Capital, Asia's premier DeFi-focused investment firm. It was founded by Arthur Cheong (Arthur0x) and took part in practically every top-tier decentralized finance protocol's investment rounds. Wangarian (@0xWangarian), one of its experts, reveals another surprise driver for Ethereum (ETH) in September.
Here's how $90 billion could come to Ethereum.
Cardano (ADA) smart contracts debut, according to Mr. Wangarian's newest tweet, may be the most bullish catalyst for all major Layer 1 platforms, including Ethereum (ETH).
According to DeFiance Capital's partner, L1s (only "live" platforms) could burst if retail investors who invested in Cardano (ADA) discover that the overhyped smart contract ecosystem does not work.
As a result, their funds may be sent to other "native" blockchains, such as Ethereum (ETH). L1s may see a massive infusion of liquidity as Cardano (ADA) capitalisation reaches an all-time high of $96.1 billion as of press time.
Cardano (ADA) is currently only surpassed by Bitcoin (BTC) and Ethereum (ETH) in terms of market capitalization. Binance Coin (BNB), its closest competitor, with a market valuation of $76 billion.
Cardano's (ADA) detractors are enraged.
The largest PoS blockchain was instantly targeted by Ethereum (ETH) maximalists after concerns with the testnet launch of Cardano (ADA) smart contracts.
Many commentators emphasized Cardano's (ADA) EUTXO model's ability to handle complex economic scenarios.
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