An analysis of Cardano's current standing amid rising competition from new platforms such as Hyperliquid and Remittix reveals that ADA's status may be at risk.
Cardano's Challenges
Cardano was once praised as a research-driven project, but opinions are starting to change in 2025. Users report slow development progress on the platform, despite recent upgrades and a smart contract ecosystem. The DeFi usage and total value locked for Cardano continue to significantly lag behind competitors like Ethereum and Solana. The main issue lies in the lack of the expected developer and user momentum.
Hyperliquid: The Decentralized Exchange
Hyperliquid has emerged as one of the most talked-about platforms since 2024, offering a highly efficient decentralized exchange focused on scalability and speed. Key features include minimal slippage, powerful trading tools, and deep liquidity. The platform has gained significant traction among pro traders and DeFi enthusiasts, directly addressing decentralized trading pain points, unlike Cardano's more traditional approach.
Remittix: A New Contender in Global Payments
Remittix is a platform that emphasizes global payments, offering functionalities similar to companies like Stripe or Wise, but in the crypto space. The platform allows users to send crypto worldwide, ensuring that the recipient receives local fiat directly into their bank account. Key benefits of Remittix include global remittances, lower fees, and support for over 40 cryptocurrencies. This represents a significant leap forward compared to Cardano's current offerings.
Despite its updates, Cardano faces serious competition from platforms like Hyperliquid and Remittix, which offer innovative solutions and real utility, calling ADA's top-10 ranking into question.
