Analyst Rejects Cardano Dead Narrative, Highlights Network Usage Gap
Image: The Crypto BasicCrypto analyst John Nakamoto reviewed Cardano (ADA) on-chain data, calling the metrics 'insane.' He rejects claims ADA is dead, noting its core issue is a gap between its roughly $10.2 billion market cap and low network usage. ADA has dropped more than 90% from its 2021 peak of around $2.97. Cardano holds roughly $71 million in DeFi total value locked, $67 million in stablecoins, $4.4 million in daily DEX volume, and 16,000 daily active addresses.
Key points
- Crypto analyst John Nakamoto reviewed Cardano (ADA) on-chain data and called the metrics 'insane.'
- Nakamoto rejects claims ADA is 'dead,' noting its core issue is low network usage relative to its valuation.
- Cardano's ~$10.2 billion market cap is roughly 144 times larger than its ~$71 million DeFi total value locked.
Why it matters
The analysis highlights a large gap between Cardano's market valuation and its on-chain economic activity, a metric often overlooked when assessing blockchain projects. It also notes upcoming ecosystem features including the USDCx stablecoin and Midnight privacy partner chain.
Price context · ADA
At publication
$0.2543
Now
$0.2504
Change since
−1.50%
7 days · dashed line = publication
Sources · 2 publishers
ZyCrypto
Tier 3
Market Analyst Calls Cardano Data “Insane,” Insists ADA Is Far From Dead — Here’s Why
Coverage timeline
- First reported by The Crypto Basic
- Confirmed by ZyCrypto
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
