- Cardano community stays positive despite market concerns.
- Hard fork sparks debate over ADA’s price and project relevance.
- Cardano challenged to evolve alongside investor needs.
A segment of the crypto Twitter community is voicing concerns about Cardano’s (ADA) future, even as anticipation builds for its upcoming hard fork. A few argue that the community’s high expectations might not align with the broader market sentiment, which could impact ADA’s price.
Criticism was also directed towards Charles Hoskinson, Cardano’s founder, for promoting events that may not have yielded their intended results, signaling a potential downturn for Cardano in the competitive crypto landscape.
Arguments are rife that Cardano has strayed from its early promises. They suggest that the project, once positioned as a solution to Ethereum’s (ETH) shortcomings, has now fallen behind. They also express concern that the current hype around Cardano’s hard fork might lead to disappointment. According to CoinMarketCap, Ethereum is valued at $2,519.83 and its ranking is number two.
While Cardano founder Charles Hoskinson prefers not to discuss price, these skeptics emphasize that the market is primarily driven by price action and potential profits. They predict Cardano will likely stay within the top 20 cryptocurrencies due to its established market cap, but caution it could slip from the top 10. Cardano is currently priced at $0.333 and is ranked number 11.
Critics also contend that Cardano’s development and focus have not kept up with the changing market. They argue that features like decentralized governance, once seen as groundbreaking, now hold less sway. They underscore that today’s crypto investors are more interested in short-term price movements than technical details like governance models, suggesting Cardano’s inability to adapt to these market preferences could make it less appealing to new investors.
Critiques extend beyond market relevance to Cardano’s community. They observe that Cardano’s base primarily consists of investors from 2017 and 2021, so the newcomers have struggled to use the blockchain due to its user experience.
Furthermore, they call on Hoskinson to directly confront these issues, even suggesting a public challenge to revitalize Cardano’s image. These remarks highlight the challenges Cardano faces to maintain its competitive edge.
Related News:
- https://coinedition.com/live-cardanos-much-awaited-vasil-hard-fork-is-deployed/
- https://coinedition.com/cardano-unveils-timeline-for-chang-fork-ushering-in-age-of-voltaire/
- https://coinedition.com/adas-price-rises-after-hoskinson-discusses-cardanos-future/
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