Cardano is still making headlines. Now, with its win in a survey conducted by Blockchain.com that wanted to gauge the interest from its audience regarding projects that are most interesting for staking rewards. With 80.6% of all votes, ADA took first place against ETH (12.1%), SOL (3.2%), and DOT (4.1%). It is hard to believe that so many people are bullish on ADA. Only if it is a deliberate attempt at trolling the crypto community.
Cardano is certainly not the worst token to be interested in, but it is not as promising or quickly developing as PolkaDot or Ethereum. While Solana has been facing many criticisms in its own right due to outages, both DOT and ETH are doing fine. Arguably, better than ADA.
Bets Charles Hoskinson lost
Only lazy ones did not talk about the inadequacies demonstrated by the Cardano development team. The deployment of the Vasil upgrade did not change anything and introduced only tiny throughput increases and some block size optimization. Good improvements, but they are too late to change the current image of the network that is seemingly falling behind Algorand, Polkadot, and Ethereum in many aspects.
The price of the asset has been tanking as well. It is now being traded at its two-month low ($0.42) and does not show any signs of improvement. The price did not budge even an iota after the article about ADA winning popularity conteManymany investors are losing faith in Cardano which is a fair assessment considering how many other promising projects are making the news right now.
On the other hand, the crypto winter has been quite harsh for many tokens. Over 12,000 different meme coins and irrelevant tokens did not see any trading volume in the last two months. Many projects are left for dead.
Cardano is not dead, but it is largely irrelevant
When compared to Ethereum which is still the second-biggest token in the market with lucrative staking benefits and Polkadot which rolls out one improvement after another, Cardano does not look like a strong contender for top spots in the market and popularity charts.
