Andrew Keys, director of DARMA Capital, made two predictions for 2023. altcoin He got the reaction of the community when he said that it would turn into zombie coins.
“Cardano (ADA) and EOS Altcoins Will Become Zombie Chains in 2023”
The analyst claimed that Cardano (ADA) and EOS altcoins were still eating the hype they were in the early days of their launch:
“Failed blockchains like EOS and Cardano have been among the “best” blockchains by market cap for years (Cardano is in the top 10 and EOS is in the top 40). These projects still live up to the hype from their early days, with virtually no ecosystem development despite the dizzying innovation taking place in the rest of Web3.”
The analyst also cryptocurrencies He claims that with the loss of speculative resources, it will lose its place among the best blockchains:
“At the current intensity of the bear market, Ethereum maintains (roughly) $1 billion in volume every 24 hours. Compare that to Cardano’s ~$1 million and EOS’ ~$100,000 daily volume.
The bear market hasn’t been kind to any network, but EOS is the most devastated altcoin of its initial funding round, with $4.2 billion in losses.
Both chains fail to deliver on their promises to the first consumers. In 2023, even institutional investors and first individual investors before the initial coin offering will lose interest. Death knells will sound for failed blockchains, and they will also lose their last remaining mainstream supporters due to the undeniable lack of on-chain adoption.”
In his statement on Twitter, the Cardano founder responded to the analyst’s claim and sarcastically said that they too are now a zombie chain.
I guess we are a zombie chain now too… https://t.co/YpoHwG7nWL
— Charles Hoskinson (@IOHK_Charles) December 21, 2022
*Not investment advice.
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