An analytical report from K33 Research emphasizes that the complete absence of significant activity on the Cardano network over time may lead to the devaluation of the ADA token. Anders Helset, a researcher from this company, draws attention to this issue and recommends considering the possibility of selling all digital assets.
The expert notes that for the Cardano token to have any value, there must be meaningful use of smart contracts on the network. However, in this case, according to K33 Research's analyst, the Cardano blockchain doesn't find significant applications. In his opinion, there is no compelling evidence that ADA is used in any significant areas.
According to Helset, an example of insufficient potential is the situation with stablecoins on the Cardano platform. These assets have become the primary means of exchange in the decentralized finance (DeFi) sector for trading altcoins.
The absence of stable coins like USDT and USDC on the Cardano network indicates that there are no significant events in this sector. Even Tether and Circle do not offer their stablecoins on this platform. The only stablecoins available on Cardano are linked to ADA and have a value of $0.76 instead of the standard $1. The expert also emphasizes that many projects were launched in the past, but most of them failed to succeed.
The current market capitalization of ADA is $19 billion, but according to K33 Research, it's just a coin that has performed well but lacks a clear purpose and is sold everywhere. Analysts also point to signals indicating the gradual disappearance of ADA from the cryptocurrency scene.
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