Many in the Cardano community are dissatisfied with their existence, and things have gotten to the point where founder Charles Hoskinson threatened to block anyone who whined at him about ADA prices immediately. Also, the altcoin has been listed by Bitstamp, while crypto exchange eToro limits ADA liquidity for US-based clients. Crypto researcher Max Maher took a closer look at metrics and the Cardano community to understand the mixed signals.
Researcher analyzed altcoin Cardano
Analyzing the actual volume of ADA, Maher noted the large drop in recent days compared to the levels at the beginning of the year. Currently, the actual volume of ADA is about $542 million, however, cryptocoin.com As we have also reported, this amount was over 9 billion dollars a few months ago. Maher used the following statements:
Still, it’s a different story if we look at the new addresses holding Cardano. You may find it surprising that the total number of wallets holding at least $100 ADA has been increasing quite steadily over the past few weeks. Also, total wallet addresses have increased much more steadily, regardless of dollar amount, recently surpassing a total of three million wallets.
While examining the evolution of the ecosystem, Maher suggested that many may have misunderstood Cardano’s Alonzo hard fork. The researcher surmised that frustrated community members expected to see smart contracts, DEXs, cryptogames, and other advanced features in the ecosystem instantly – but they were not prepared for the development time these projects required. According to Maher, Cardano has suffered from its own hype. The researcher said:
I wouldn’t rely on these developments for price action in a month or even two months, but I think in three to six months we’ll see a lot of solid usable dApps running on Cardano. All in all, if you want crypto that will grow 10x per month, you shouldn’t stop at Cardano.
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