Cardano's Ghost Chain Debate Reignites as ADA Falls 

  • Cardano faces criticism for low TPS and declining market performance despite high TVL.

  • Scammers target Cardano users with fraudulent ADA token migration schemes.

  • ADA price shows a negative trend with a declining RSI and bearish MACD crossover.

Cardano continues to draw criticism from the crypto community over its low transaction volume and declining market performance. Despite $22 billion locked within the network, the platform handles only 1.3 transactions per second (TPS), sparking concerns about its utility and future.

Cardano is running at 1.3 transaction a second. This means less than 1.5 users are using @Cardano a second.

1.5 users people. Yet $22b is locked in the network controlled by one man.

This is the definition of a catastrophe.

(Data from @Cardano) pic.twitter.com/UHDIN4Aukw

— MartyParty (@martypartymusic) October 3, 2024

Most argue that this low transaction rate means that less than 1.5 users are using the network at any given second, prompting some to label the situation a catastrophe for Cardano.

Cardano saw 6,697 transactions in one hour, averaging an actual TPS of 1.86. Over 24 hours, the blockchain processed 112,179 transactions at an…

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