Analyst Refutes ‘Inactive’ Cardano Claims, Says This Will be Game Changer
K33 Delivers Blow to Cardano Community in Damning Report
A couple of weeks ago K33 Research published a report that was not very favourable towards Cardano – to put it mildly. The report alleged that the blockchain which is the eighth-largest by market cap is basically a ghost chain. The report with the provocative title ‘Why You Should Sell Your ADA’ claimed that transactions on Cardano are meaningless because none are coming from external sources.
Additionally, K33 claimed that the absence of any major stablecoin is an indication of virtually zero DeFi (decentralised finance) activity.
This, and other repeated criticism of Cardano’s perceived lack of activity led crypto analyst Dan Gambardello to write a post on X (formerly Twitter) explaining why all the FUD around ADA is unnecessary.
First, he points out that Cardano has recently surpassed TVL (total value locked) of half a billion USD.
TVL is a measure of the liquidity of a DeFi protocol but it also lets us gauge the health and growth of a protocol – additionally it makes for easy comparison between networks.
Although the combined TVL of all Cardano protocols stands at USD $427 million (AUD $654 million), it is significantly smaller when compared to the aggregate TVL of all crypto protocols, which amounts to USD $62 billion (AUD $95 billion) at the time of writing.
AxoTrade is Set to Be a Game Changer – Democratising Trading
Gambardello for one, seems to be thrilled about DeFi on Cardano because of platforms like AxoTrade. This one is probably a bit of a game-changer; it’s letting traders call the shots with their own bespoke trading strategies through programmable swaps.
This is a real step up because it means you can set your own terms for how and when you want to swap, and who you’re swapping with. And it’s all ticking away nicely on Cardano’s secure infrastructure.
But it’s not just about being able to set up trades on your terms as the analyst explains:
Beyond programmable swaps, AxoTrade offers tools from passive investment options like indexes to the complexities of synthetics and financial derivatives.
He adds that it used to be that this level of control was only for the big dogs in traditional finance – the market makers and the hedge funds who had the know-how to play around with programmable trading. AxoTrade’s flipping that on its head, though. It’s cracking open what was once exclusive and making it available to anyone interested in investing. That’s a pretty solid move for levelling the playing field.
Gambardello concludes that’s the reason why he is bullish on Cardano, which leaves critics with little to say.
We’ve just entered a new era for Cardano and it’s so interesting to me to see how much time and effort critics put into undermining what is happening here.