Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
ADA Rallies by 12.20% Despite Social Media Critics on Performance

ADA Rallies by 12.20% Despite Social Media Critics on Performance

CoineditionCoinedition2024/03/27 13:19
By:Victor Olanrewaju
  • MartyParty critiques ADA’s 1.68 TPS despite a $23.5B market cap, sparking debate.
  • Cardano sees a 12.20% price surge, and a market cap rises to $24.165B, reflecting investor optimism.
  • ADA trading volume soars by 35.40%, indicating increased market activity and interest.

In a recent social media debate, MartyParty, a host of the crypto traders club space, criticized Cardano’s ($ADA) performance, juxtaposing its transaction speed with its market capitalization. According to the tweet, Cardano operates at 1.68 transactions per second despite boasting a $23.5 billion market cap. 

The host said:

Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap?

MartyParty’s message urged the community to reconsider their investments in Cardano, advocating for a switch to more efficiently performing blockchains. This statement, made on March 26, has sparked varied reactions within the cryptocurrency community.

Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap? 👀

Please people be smarter – sell this token and move to a adopted performing blockchain native token. For the love of god. pic.twitter.com/7TPp401mbs

— MartyParty (@martypartymusic) March 25, 2024

In contrast, a user known as SonofGeo has expressed unwavering support for Cardano , implying a deep belief in the blockchain’s potential beyond its current transaction speed. Nonetheless, MartyParty dismissed SonofGeo’s defense, emphasizing widespread uncertainty about Cardano’s capabilities.

Yes nobody does

— MartyParty (@martypartymusic) March 26, 2024

The recent bullish momentum of ADA added another layer to the ongoing debate. Cardano’s native token witnessed a significant 12.2% increase in its price over the past week and a notable surge in market capitalization to $24.165 billion.

This upswing in value and market interest, characterized by a 35.4% hike in trading volume, reaching nearly $599 million, suggests growing investor confidence in the ADA token’s potential.

ADA Rallies by 12.20% Despite Social Media Critics on Performance image 0 ADA Rallies by 12.20% Despite Social Media Critics on Performance image 1

ADA/USD 1-Week Chart (Source: CoinStats )

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Volatility Shares files for Solana futures ETF, despite lack of Sol futures products

Asset manager Volatility Shares has filed an application for ETFs that would invest in Solana futures contracts on CFTC-regulated exchanges and offer 1x, 2x, and -1x leverage options.The filing comes even before any such Solana futures products are available to trade.

The Block2024/12/29 00:33