$ADA: Analyst Lists Five Reasons Why Cardano’s ADA Will Underperform This Bull Run.
A popular crypto analyst recently shared her skepticism about Cardano’s ADA performing well in the ongoing bull market🐂
She also mentioned her respect for Charles Hoskinson, Cardano’s founder, but emphasized that her admiration for him doesn’t extend to the ADA cryptocurrency.
📍 Slow Development Pace
The analyst criticized Cardano for its slow development process. She pointed out that the network has experienced multiple delays, including the postponement of the Vasil hard fork due to technical issues.
📍 Low User Engagement
The analyst noted that Cardano ranks 13th in daily active users and 30th in protocols, which refers to the number of projects being built on the platform. She argued that these metrics indicate a lack of engagement and development activity, which could lead to Cardano becoming irrelevant.
📍 Performance Metrics
The analyst stated that Cardano’s average transaction latency is 20 seconds, which is slower than Ethereum and significantly slower than other competitors like Solana and Polygon.
📍Overhyped and Lacking Substance
The analyst accused Cardano of being overhyped, largely due to its partnership with global advertising and marketing agency McCann Dublin (which went bankrupt in April 2023). She argued that the hype is manufactured and not backed by substantial development or adoption.
📍Lack of Real-World Adoption
Lastly, the analyst criticized Cardano for its lack of real-world adoption. She mentioned that although Cardano has announced various partnerships, especially in Africa, these have yet to show significant real-world impact.
📍Future Prospects
The analyst also touched upon Cardano’s future, stating that she believes the platform will continue to lag behind, especially in 2024 and 2025. She mentioned that new and innovative blockchain technologies are on the horizon, and Cardano will struggle to keep up.
