K33 Research says Cardano (ADA) is useless crypto, Hoskinson hits back
K33 Research analysts tried to show intentional negative factors regarding the Cardano blockchain and claimed that Cardano is useless with no use case.
Cardano (ADA) is a popular Proof-of-Stake (PoS) crypto network which is mainly known for its better network stability & fast transaction of assets. Over the past few years, Cardano’s smart contract environment succeeded in drawing attention to Decentralised Finance (Defi) protocols & Digital collectibles (NFTs) activities.
On 15 Jan 2024, K33 Research published a report on Cardano and tried to degrade the confidence of Cardano native coin ADA investors badly.
The report badly criticised the small-level achievements of the Cardano blockchain and claimed that ADA has no use case except transactions across one exchange to another exchange.
Furthermore, the report dragged attention toward the Cardano network-powered native stablecoins. K33’s analyst claimed that the market cap of Cardano stablecoin relative to other stablecoins is zero.
Strangely K33 Research claimed that Cardano’s future will be bad just like IOTA, NEO, and EOS. According to research, the Cardano team is doing nothing from the perspective of something evolutionary.
Charles Hoskinson, the founder of Cardano, jumped against K33 Research and asked “Who are they, he never heard about them”
The report by K33 Research is based upon partial factors and it seems that they are trying to defame & spread negative PR against Cardano.
Cardano is a blockchain network which has successfully ranked in the top 10 crypto projects in the world for many years without any help of VC funding.
Retail as well as big investors love Ada coin very much because they know the Cardano developers never follow trends, instead, they remain always engaged in the development activities so that they can make Cardano better & better to push the potential ability of this innovative sector to the next level of use cases.
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