Cardano’s smart contract progress, notably the Alonzo upgrade in September 2021, enabled DeFi and dApp development, boosting ADA’s utility. However, its value hasn’t consistently reflected this, dropping 50% against ETH by November 2021, per X posts. Cardano’s eUTXO model and formal verification offer technical edges over Ethereum’s scalability issues, yet Ethereum’s first-mover advantage and network effects dominate. ADA’s price surged to $3.09 in 2021 but later stabilized at $0.8451 by December 2024. Competition hinges on adoption—Cardano’s innovations may drive long-term value if it captures market share from Ethereum.