K33 Research, a prominent entity in the cryptocurrency research sector, has released a scathing report on Cardano (ADA), sparking widespread discussion in the crypto community. The report bluntly advises investors to divest from Cardano, citing a lack of meaningful use for its native token, ADA.<\/p>\n
In a detailed examination<\/a>, K33 Research asserts that the Cardano network suffers from a significant lack of practical application, which is essential for the inherent value of its native token. The report states, \u201cA smart contract network needs meaningful use for its native token to have any value. The Cardano network, however, has no meaningful use or any credible track to get it.\u201d<\/p>\n Addressing the counterargument often presented by Cardano supporters regarding the network\u2019s daily transactions averaging around 90,000, the report argues that these do not equate to meaningful blockchain activity. The report further elaborates, \u201cThere\u2019s nothing else going on in the Cardano Network than exchange transfers and a group of bagholders fabricating blockchain activity.\u201d<\/p>\n K33 Research highlights the absence of external evidence supporting any significant activity on the Cardano network, contrasting it with other protocols where real activity is corroborated by external proofs. This lack of external validation is termed as \u2018proof by contradiction\u2019 by the research firm.<\/p>\n One of the most telling indicators of inactivity, according to the report, is the situation of stablecoins on the Cardano network. K33 Research points out that the absence of major stablecoins like USDT<\/a> and USDC<\/a> on Cardano is a clear indicator that no meaningful decentralized finance (DeFi) activities are taking place. The only stablecoins present are reportedly Cardano-collateralized and valued at 76 cents to the dollar, which it refers to as \u201canother word for nothing.\u201d<\/p>\n K33 Research is pessimistic about Cardano\u2019s future, drawing parallels with other blockchain projects that started with no traction and later faded into irrelevance. The report notes that successful blockchains evolve over time, whereas \u201ccreationistic, grand idea, subsidized bootstrapping, and no real use-blockchains\u201d eventually lose their luster. It cites examples like IOTA, NEO, and EOS to illustrate this pattern.<\/p>\n Despite Cardano\u2019s current market valuation of $19 billion, K33 Research attributes this to its availability on various exchanges and its appeal to new crypto investors. The report critiques the narrative surrounding Cardano, describing it as \u201cscientific mumbo-jumbo\u201d that might mislead newcomers.<\/p>\n \u201cAda is a well-established coin that is tradeable \u2018everywhere\u2019, also on smaller local exchanges, making it one of the coins that are \u2018pushed\u2019 to aspiring crypto investors. Cardano also has an enticing story for newcomers, with Cardano being branded as \u2018the peer-reviewed research-driven blockchain network\u2019,\u201d the report mentions.<\/p>\n However, K33 Research foresees a decline in this allure, predicting that the number of new investors attracted to Cardano will dwindle.\u00a0Moreover, K33 Research casts doubt on the long-term viability of ADA, citing a lack of rally in its price compared to other strong smart contract tokens during recent market rallies<\/a>.<\/p>\n \u201cAda has not rallied in line with other \u2018stronger\u2019 smart contract tokens when markets have improved,\u201d the report states, suggesting a gradual fade from relevance rather than an abrupt disappearance.<\/p>\n According to K33 Research, the market doesn\u2019t rapidly eliminate such coins but instead \u201cbleeds them out\u201d over time. The report concludes, \u201cThings never happen overnight, and these processes often take years to play out fully. Still, all price signals also point to Ada gradually disappearing from the crypto map.\u201d<\/p>\n At press time, ADA traded at $0.531.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n K33 Research, a prominent entity in the cryptocurrency research sector, has released a scathing report on Cardano (ADA), sparking widespread discussion in the crypto community. The report bluntly advises investors to divest from Cardano, citing a lack of meaningful use for its native token, ADA.<\/p>\n In a detailed examination<\/a>, K33 Research asserts that the Cardano network suffers from a significant lack of practical application, which is essential for the inherent value of its native token. The report states, \u201cA smart contract network needs meaningful use for its native token to have any value. The Cardano network, however, has no meaningful use or any credible track to get it.\u201d<\/p>\n Addressing the counterargument often presented by Cardano supporters regarding the network\u2019s daily transactions averaging around 90,000, the report argues that these do not equate to meaningful blockchain activity. The report further elaborates, \u201cThere\u2019s nothing else going on in the Cardano Network than exchange transfers and a group of bagholders fabricating blockchain activity.\u201d<\/p>\n K33 Research highlights the absence of external evidence supporting any significant activity on the Cardano network, contrasting it with other protocols where real activity is corroborated by external proofs. This lack of external validation is termed as \u2018proof by contradiction\u2019 by the research firm.<\/p>\n One of the most telling indicators of inactivity, according to the report, is the situation of stablecoins on the Cardano network. K33 Research points out that the absence of major stablecoins like USDT<\/a> and USDC<\/a> on Cardano is a clear indicator that no meaningful decentralized finance (DeFi) activities are taking place. The only stablecoins present are reportedly Cardano-collateralized and valued at 76 cents to the dollar, which it refers to as \u201canother word for nothing.\u201d<\/p>\n K33 Research is pessimistic about Cardano\u2019s future, drawing parallels with other blockchain projects that started with no traction and later faded into irrelevance. The report notes that successful blockchains evolve over time, whereas \u201ccreationistic, grand idea, subsidized bootstrapping, and no real use-blockchains\u201d eventually lose their luster. It cites examples like IOTA, NEO, and EOS to illustrate this pattern.<\/p>\n Despite Cardano\u2019s current market valuation of $19 billion, K33 Research attributes this to its availability on various exchanges and its appeal to new crypto investors. The report critiques the narrative surrounding Cardano, describing it as \u201cscientific mumbo-jumbo\u201d that might mislead newcomers.<\/p>\n \u201cAda is a well-established coin that is tradeable \u2018everywhere\u2019, also on smaller local exchanges, making it one of the coins that are \u2018pushed\u2019 to aspiring crypto investors. Cardano also has an enticing story for newcomers, with Cardano being branded as \u2018the peer-reviewed research-driven blockchain network\u2019,\u201d the report mentions.<\/p>\n However, K33 Research foresees a decline in this allure, predicting that the number of new investors attracted to Cardano will dwindle.\u00a0Moreover, K33 Research casts doubt on the long-term viability of ADA, citing a lack of rally in its price compared to other strong smart contract tokens during recent market rallies<\/a>.<\/p>\n \u201cAda has not rallied in line with other \u2018stronger\u2019 smart contract tokens when markets have improved,\u201d the report states, suggesting a gradual fade from relevance rather than an abrupt disappearance.<\/p>\n According to K33 Research, the market doesn\u2019t rapidly eliminate such coins but instead \u201cbleeds them out\u201d over time. The report concludes, \u201cThings never happen overnight, and these processes often take years to play out fully. Still, all price signals also point to Ada gradually disappearing from the crypto map.\u201d<\/p>\n At press time, ADA traded at $0.531.<\/p>\n <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35143","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35143"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35143\/revisions"}],"predecessor-version":[{"id":35149,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35143\/revisions\/35149"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35143"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Future Outlook For Cardano<\/h2>\n
Sell All ADA Now?<\/h2>\n
Future Outlook For Cardano<\/h2>\n