A well-known cryptocurrency blogger has been criticized by ADA fans for his derogatory remarks about the Cardano blockchain and failing to see its benefits.
Lark Davis expressed his surprise on Twitter how Cardano manages to maintain its position in the top 10 cryptocurrencies by market capitalization, given the too little use of this blockchain. According to Davis, there are almost no decentralized finance (DeFi) projects based on Cardano, few decentralized applications run on the network, and on average only 70,000 transactions are made in Cardano daily. Despite this, ADA holders continue to believe in the potential of Cardano, Davis wonders.
The tweet was not liked by the community members, who responded by criticizing the cryptocurrency trader, considering his statement as an expression of passive aggression. One user wrote that Cardano has become a pioneer in collectible tokens and bond staking. A Twitter user under the pseudonym ADA Whale wrote that he could transfer 200 NFTs in just one transaction, demanding that the trader become more responsible with his social media posts. Other Cardano followers felt that Davis was simply trying to divert people’s attention from his many advertisements for fraudulent crypto projects.
Lark Davis is not the only one who is biased towards Cardano. Influential publication Coindesk did not include this blockchain in its recent market forecast for 2023, which caused indignation of the founder of the network, Charles Hoskinson (Charles Hoskinson). In December, Coindesk journalists described this blockchain as “useless.”
Note that earlier Davis questioned the value of the XRP cryptocurrency. The blogger wondered : “Why is banking giant JPMorgan using MATIC and AAVE to conduct international transactions with the Japanese yen with a Ripple On-Demand Liquidity (ODL) solution?” In addition, a cryptocurrency analyst suggested that the SHIB meme cryptocurrency is unlikely to ever reach the value of $1.