2023-10-24 18:15 |
Cardano is one of the weakest performers among the top 20 cryptocurrencies by market cap, sharing this category with Shiba Inu (SHIB), Tron (TRX), and Binance Coin (BNB). Its price has experienced a prolonged downward trend with limited signs of recovery.
Currently, it has only risen by a modest 4% over the past week, with bullish movements observed over the last 4 days. However, this uptick could also be part of an ongoing consolidation phase. In one of her recent YouTube videos discussing cryptocurrencies, a crypto analyst known as Lady of Crypto shared her perspective on why she is hesitant to invest in Cardano. Let’s delve deeper into her insights.
Cardano Isn’t Measuring UpLady of Crypto states Cardano’s development is far too slow for the fast-paced crypto industry. She calls it “excruciating,” noting competitors are outpacing Cardano.
Additionally, she highlights how few people actively use Cardano, ranking just 13th in daily active users. The analyst also points out Cardano has only the 30th most protocols being built on it, saying “a chain nobody builds on is a dead chain.”
Why Top Analyst Isn’t Buying Cardano – ADA is ‘Overhyped’Comparing Cardano technically, the analyst asserts it is slower and more expensive than competitors like Ethereum. She notes that Cardano’s average transaction speed is 20 seconds.
Perhaps most critically, Lady of Crypto believes Cardano is significantly overhyped. She attributes this to Cardano’s brand marketing firm, saying “it’s all manufactured hype.” Despite the promotion, tangible adoption remains lackluster.
Given all these issues, the analyst sees Cardano as continuously lagging further behind rivals each passing year. She concludes the broader crypto sphere is simply moving too rapidly for Cardano to keep up.
Lady of Crypto sees Cardano as an overpromised blockchain failing to deliver substantive results. With development delays, meager usage, and growing competition, she argues there are better crypto investments than ADA currently.
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