While the cryptocurrency market continues to go through turbulent days with various developments, Cardano The debates on the front are also heating up. While many community members and influencers claimed the existence, many experts, including founder Charles Hoskinson, harshly criticized this view.
As we reported as Koinfinans.com, controversial analyst Ben Armstrong (BitBoy) compared the Cardano network to other networks, claiming that projects on the network are almost unknown.
“The biggest problem in the Cardano network is directly related to the network. For example, if you are on an exchange and you can see more usage areas, you can save money by choosing other networks.”
BitBoy claims another big reason for ADA’s underperformance is a lack of institutional money does.
“Because most of the liquidity is locked in stakes, and as long as it remains that way, people will not be able to deposit large amounts of money.
I think the markets show us this very clearly. It’s critical to look at where the big money is and where it’s going. TradFi is coming in and spreading around and ADA is being left out. That doesn’t mean it still can’t have a major bull run. “What that means is it will be limited and limited until the big fish come and get their fill.”
Cardano founder responding to BitBoy’s video Charles Hoskinson He expressed his disappointment and stated that his relations with Armstrong were good, but that it was sad that he made such a comment. Hoskinson concluded his review with good intentions and wished him good luck.
well @BenArmstrongsX was always friendly in person to me. Sad to see him go down this road.
Wish him well and hope for the best. https://t.co/b9lFeO70oe
— Charles Hoskinson (@IOHK_Charles) April 7, 2024
Meanwhile, Cardano is experiencing a “lull in whale activity,” which represents a bearish signal suggesting further consolidation or an “impending decline,” according to cryptocurrency analyst Ali Martinez.
