The hype for cryptocurrencies is never-ending and the adoption is exponentially expanding across the globe. Significantly, the Cardano ecosystem has somehow managed to hold its position within the top 10 cryptocurrencies. The network has worked on deploying more features and also has implemented innovative use-cases to serve the community.
Currently, ADA is trading at $1.05 with a trading volume of $1,337,087,445 in the last 24-hours. Moreover, it holds the 7th rank and currently experiences a 2% dip in the trading chart. But the interesting part is that developers and investors have begun to raise queries about Cardano’s roadmap.
Chris Burniske, a partner of Placeholder, mentions Cardano as “vaporware” responding to a question on why ADA doesn’t do anything. According to him, Cardano is just a project which is still sustaining in the market because of hype. Besides, he is a critic of the Cardano blockchain, though many criticize the project it still has reasons to be potential.
ADA Leads Transaction Activity
Cardano has several reasons that imply it as an optimistic project when compared to its competitors. As per the data from a crypto aggregator Messari.io, ADA surpassed the transaction activity of Bitcoin and Ethereum. The transaction volume of ADA was $17.15 billion while BTC and ETH were at $15.1 billion and $8.6 billion respectively.
Surprisingly, this was the first time Cardano surpassed the adjusted trading volume of Bitcoin. Therefore ADA symbolizes a bullish pattern with some highlighting features in its network. As of February 14, the recently available data depicts the average transaction fee as $0.44. However, the ecosystem has witnessed huge growth in the past few years but users predict it as “undervalued” as the price value still follows the lower zone.
