Leading cryptocurrency analyst Lark Davis has been harshly critical of a top 10 altcoin project. That said, the altcoin community was quick to respond to Davis.
Heavy words from Lark Davis to Cardano!
In a tweet today, Lark Davis said that Cardano continues to surprise him by staying in the top 10 cryptocurrencies despite having little use. According to Davis, Cardano remained in the top 10 cryptos with ‘virtually no’ decentralized finance projects, few working individual decentralized apps (dApps) and only 70,000 daily average transactions.
He added that ADA holders continue to believe in Cardano’s potential despite its low utility. Lark Davis shared:
Cardano impresses me! It remained in the top 10 forever despite almost zero, a few running individual dApps, and an average of only 70,000 transactions per day. Yet ADA holders continue to believe in Cardano’s potential and Blockchain’s vision!
Altcoin community criticizes Davis
As expected, the tweet was not well received by members of the Cardano community. ADA Whale, a Twitter account dedicated to sharing the latest updates on Cardano, described Davis’ tweet as ‘weird and passive-aggressive’. ADA Whale responded to Davis by highlighting Cardano’s achievements since Blockchain was launched.
Contrary to Davis’s claim, ADA Whale said that Cardano has several decentralized exchanges, synthetics, and multiple borrowing and lending protocols. Additionally, ADA Whale added that Cardano is a pioneer in NFT and staking bonds, with over $8 billion of stake. ADA Whale asked Davis to stop the misinformation campaign, adding:
Also, you know as well as I do that since Cardano is based on UTxO, these 70,000 transactions cannot be compared to what people on other Blockchains are doing. Tokens are native assets and we can do many transactions within one transaction. I can transfer a 200 NFT wallet and that would be a single transaction.
Alongside ADA Whale, other Cardano enthusiasts also scolded Davis for his insulting tweet about the altcoin. Some Cardano community members have accused Davis of trying to divert people’s attention from numerous promotional crypto scams.
Meanwhile, Davis’s post about Cardano comes less than a month after Coindesk identified Blockchain as a zombie Chain. cryptocoin.com As we reported, Coindesk claimed in a comment last month that Cardano will become a zombie Chain by the end of this year due to its low utility.
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