Cardano Under the Microscope- A Skeptic’s Viewpoint

• The analyst also highlighted stats showing relatively little usage and adoption of Cardano’s network.
• She cited figures ranking Cardano 13th in daily active users, 30th in protocols built on the network and 15th in total value locked

Investing in cryptocurrencies requires careful consideration, and not every analyst sees eye to eye on the potential of various digital assets. In a recent YouTube video posted on Nov. 29th, the analyst behind the popular Lady Of Crypto channel shared her insights on why Cardano’s ADA token hasn’t made it into her investment portfolio. It’s important to note that her perspective is personal and not financial advice.

Little Usage and Adoption: The analyst began by pointing out statistics that indicate Cardano’s network is lagging behind its competitors. Cardano ranks 13th in daily active users, 30th in protocols built on the network, and 15th in total value locked. According to her, these metrics suggest that Cardano is “clearly not performing well enough” when compared to other leading blockchain networks.

Transaction Speed and Cost Concerns: Another aspect of concern for the analyst is the speed and cost of transactions on the Cardano network. She argued that transactions on Cardano are slower and more expensive than competing networks like Solana and Polygon. While Cardano’s upcoming Hydra upgrade aims to enhance throughput, she expressed skepticism about its effectiveness, stating that it has not met expectations so far.

Manufactured Hype and Government Partnerships: The analyst delved into what she referred to as “manufactured hype” around Cardano, citing its partnership with the renowned marketing agency McCann Dublin. Beyond the hype, she claimed there is little evidence of real-world adoption stemming from Cardano’s government partnerships. This skepticism questions the substance behind the partnerships and whether they genuinely contribute to Cardano’s growth.

Predicting a Tidal Wave and Falling Behind: The analyst concluded with a prediction, foreseeing a “tidal wave” of new blockchain projects with advanced technology surpassing Cardano. She specifically mentioned innovations like zero-knowledge proofs (ZK-Proofs) and suggested that Cardano’s methodical approach might make it “too little too late” to leverage such advancements. In her view, Cardano could struggle to keep up, especially when technologies like ZK-Proofs become a significant revolution in blockchains.

Is Cardano Ready for the Future of Blockchain?

In the ever-evolving landscape of cryptocurrencies, analysts play a crucial role in guiding investors. While some remain optimistic about Cardano’s potential, this particular analyst’s concerns raise questions about the project’s competitive edge in the rapidly advancing world of blockchain technology.