Do you think Cardano will replace Ethereum?
Personally, I think that both blockchains will develop in different directions in the future.
Both blockchains would therefore be relevant and coexist.
I personally think of something like this:
Ethereum = DeFi
Cardano = dApp
I also thought of something like this:
Ethereum = NFT & Gaming
Cardano = dApp & DeFi
This might have been a good question 2018 but its obvious that cardano has failed in 2024. Launched in 2017, Cardano was always hyped as the most actively developed blockchain that could be an immediate threat to Ethereum but the threat from Cardano never came. Fast forward today, there are many alternatives of Ethereum and Cardano and even though Ethereum is holding its ground, Cardano just have a ceremonial presence on the market being out shadowed by newer and better competition. Cardano might exist a bit longer, but I don't see it gaining any momentum, Even though its currently at number 10 by marketcap, I see it slip down soon Memecoins and newer utility coins threaten its position.
You are absolutely right that in 2018 Cardano (ADA) was considered as potential competitor since 2017 when it was launched, and ialso in 2021 when overall cryptocurrencies' market was in bullish phase it relatively performed better and its price reached to $2,58 which is its all time high (ATH). However, since then it could not make any impressive moves, even in 2024 when Bitcoin made new ATH, Cardano price remained below a dollar.
In view of the foregoing, it is highly unlikely that Cadano can compete with Ethereum, Solana or BNB chains.