Cardano Under Scrutiny: Dead Coins Uncovered🤯
Cryptocurrency analyst Altcoin Buzz has raised concerns about Cardano (ADA), despite its impressive price surge since October 2023, climbing from 24 cents to nearly 74 cents.
Critics have long questioned Cardano's marketing strategy and isolated approach. Now, a report by Alpha Quest Research highlights a new issue: a significant presence of "dead coins" within Cardano's ecosystem.
The report, analyzing over 12,000 crypto projects, reveals that nearly two-thirds of projects from the 2020 and 2021 bull runs have failed. Cardano, along with Terra, stands out as hosting a high number of dead coins, with 74% of its ecosystem projects classified as such.
Factors determining a dead coin include low trading volume, inactive social media accounts, defunct websites, and delisting from CoinMarketCap. This statistic raises concerns about Cardano's long-term viability, despite notable projects like Wanchain and ADA's price performance.
While Cardano shows promise, the prevalence of dead coins poses challenges to investor confidence and ecosystem health, prompting questions about its sustainability.
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