Cardano Remains Most Likely L1 To Flip Ethereum

Ethereum (ETH) has long reigned as the dominant force in the world of altcoins, holding the top spot with the highest total value locked (TVL) in DeFi protocols and an unrivaled developer ecosystem. Despite numerous challengers over the years, none have come close to dethroning it. But now, Cardano (ADA) is reigniting the debate, positioning itself as a serious contender for replacing Ethereum as the king of the altcoins.

A Bold Challenge

The latest indication of Cardano potentially closing the gap on Ethereum came in a recent Altcoin Daily poll, where nearly 27,000 crypto enthusiasts were asked which blockchain was most likely to surpass Ethereum. In a surprising twist, Cardano took the lead, claiming 46% of the vote. Solana (SOL) followed closely behind with 39%, while other projects like SUI and BNB barely registered.

Cardano influencer YOD₳ weighed in on the results, dismissing the low rankings of SUI and BNB. He pointed out that SUI lacks a strong community and that BNB is often seen as primarily an exchange network, not a fully decentralized blockchain.

On the other hand, both Cardano and Solana are seen as more established, trusted projects within the crypto ecosystem, making them the most likely candidates to challenge Ethereum.

The Growing Hype Around Cardano

Lately, Cardano has been riding a wave of optimism, fueled in part by speculation about new partnerships. One of the most buzzed-about rumors is a potential collaboration with Ripple to support the launch of the RLUSD stablecoin.

However, the excitement reached new heights when Cardano founder and IOHK CEO Charles Hoskinson posted a cryptic image on social media after visiting the SpaceX headquarters in California. This sparked a frenzy of theories, with some suggesting partnerships with Elon Musk, SpaceX, or even a blockchain-based U.S. voting system powered by Cardano.

Though these ideas remain speculative, they have added fuel to the fire, painting Cardano as a potential player in the larger world of real-world governance solutions. Some even speculate that Cardano could help create a federal blockchain-based voting and ID system, in collaboration with entities like X (formerly Twitter), Hyperledger, and Hedera, under the guidance of Musk and political figure Vivek Ramaswamy.