- Dan Gambardello says people are missing what is happening in the Cardano environment.
- There is a clear distinction between ADA and the growth of DeFi coins in the Cardano ecosystem.
- Gambardello thinks ADA is performing significantly well, despite current regulatory challenges.
According to the leading cryptocurrency analyst, Dan Gambardello, a lot of people do not understand what is happening in the Cardano environment. He views the various narratives connected to the project as evidence that many crypto users are oblivious to the core components of the project.
In a video uploaded to YouTube, Gambardello discussed the distinction between what most crypto users observe with Cardano and the experience of people who are part of the network’s internal systems. He saw a clear distinction between ADA and other cryptocurrencies, and the growth of DeFi coins in the Cardano ecosystem.
Gambardello believes most crypto users judge Cardano based on the current ADA price trend. However, he thinks ADA is performing significantly well, despite the current regulatory challenges faced by the project. According to Gambardello, despite the attacks on Cardano, ADA remains one of the top-five cryptocurrencies on CoinmarketCap when you remove the stablecoins.
He notes that by retaining this status in the middle of multiple challenges, Cardano is robust and should be judged more fairly by crypto users.
Gambardello explained that Cardano DeFi is experiencing significant adoption. Data from DeFiLlama shows that Cardano’s TVL grew from $50.1 million at the beginning of 2023 to $183.06 million in June. This value dropped slightly at the time of writing to $150.56 million.
Gambardello identified several DeFi projects within the Cardano ecosystem that have performed exceptionally well in recent months. He noted that it is on those projects that Cardano network users are making gains, despite the bear market situation.
According to the analyst, most crypto users apply the surface approach by holding onto altcoins and riding them through the high and low points. However, well-informed users dive deep into the ecosystem and explore the exploding DeFi tokens. Some of the DeFi pairs with high performance identified by Gambardello include IEG/ADA, ViFi/ADA, and MILK/ADA, all of which have made over 100% gains in the past few weeks.
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