The community named it to be a much better version of ETH.
ADA is slowly building its momentum to be the best digital cash available summing up the scalability, high security, low transaction fees, interoperability and especially considering the backlash of ETH with current gas fees.
Also the creator strongly believes that cryptocurrency absolutely have to communicate one with another and most likely this will happen in the next 3-5 years and there are rumors of Cardano/Litecoin connection bridge.
Can we see a market cap bigger than Ehereums? At the actual price rates this means it should be around $12 per ADA.
Will it happen?
In the short term it looks impossible that cardano will beat Ethereum because Ethereum is second biggest digital currency and almost 90% Alts, DEFIs and NFTs have been created on Ethereum network, its use case is very strong that no other network can match easily. Cardano has just launched its smart contract project and it will take years to build its customers base then its price may reach above 10$.