Thread by @cryptorecruitr

🔍If you want an idea of how big #Cardano can be, read this!

Despite price fluctuations, bearish sentiment, and many people exclaiming $ADA is over, TVL can be a leading indicator of things to come, especially when compared to the success of Ethereum. 🧵

1/10 Cardano's DeFi ecosystem is nearing a TVL of 600M ADA. This shows growing trust and usage of Cardano's DeFi platforms. As I've mentioned many times, this is only the beginning.

Note: USD TVL is around $162M and $ADA market cap is around $9B

2/10 It is important to remember that in the early days of Ethereum DeFi, and around 1 year before the 2020 Bitcoin halving, Ethereum TVL was only around $400M TVL and $25B market cap

3/10 This is closer to the realm of where Cardano sits right now, also now in its early DeFi days, also around 1 year before the next Bitcoin halving.

Now, let's look at what happened to ETH TVL in the last bull market.

It exploded to $129B TVL

4/10 ETH market cap also soared to $568B, from $25B.

That's a 22x for a top 2 crypto blue chip!

5/10 As a value investor in $ADA, this is where my thesis comes into play.

From my own research, I believe that while Cardano was slower to market, it was built to be a more secure, scalable, decentralized, and economical blockchain than Ethereum.

This gives Cardano potential!

6/10 The time to prove this theory is now, before the bull market. And it's actually happening.

Cardano is breaking TVL records while Ethereum is in decline.

This speaks volumes.

7/10 It's proof of concept season for Cardano right now, and Cardano is proving itself.

So when the next wave of value comes crashing into the cryptocurrency space, Cardano will be waiting to onboard that value into its ecosystem.

8/10 I am not predicting that Cardano will capture a $500B market cap like Ethereum did last cycle. Maybe it will. Maybe not.

If it does even half of that, $ADA could see a price of $7. That is around a 26x for this blue chip crypto from these current bear market levels of .27.

9/10 As always, I note that this is all speculation. This is just how I view things.

I always keep in mind that at any given time, crypto could fail. Cardano could somehow fail. It could all go to $0. Considering that extreme scenario is always a part of my approach.

10/10 I have been tracking crypto cycles and Cardano for years.

I think it offers extreme potential - not just for price - but also for the continued use case for builders to build and innovators to innovate in a secure, scalable, and decentralized environment.