Posted 1/16/2024, 6:31:00 PM
Research firm doubts Cardano utility, predicts fade into irrelevance
- Research firm K33 claims Cardano's ADA token is useless due to lack of utility and real activity beyond transfers
- K33 points out tiny stablecoin presence on Cardano as sign of limited DeFi activity
- K33 predicts Cardano will fade into irrelevance like other over-hyped blockchains lacking evolution
- Hoskinson dismissed K33 as unimportant rather than addressing criticisms
- K33 questions Cardano's ability to address concerns about its trajectory