Cardano

Arthur

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitmex-co-founder-critiques-cardanos-performance-and-projects" rel="noopener noreferrer nofollow">BitMEX Co-Founder Critiques Cardano’s Performance and Projects</a><br></p>
<p style="text-align: justify">Arthur Hayes, co-founder of the well-known cryptocurrency exchange BitMEX, stirred the crypto community by disparaging Cardano (<a href="https://en.bitcoinhaber.net/cardano-ada-prices-surge-once-again" rel="noopener noreferrer nofollow">ADA</a>), a leading altcoin, as “dog poop” from his personal X account. This controversial label has ignited a widespread debate among crypto enthusiasts.</p>
<h2 id="questioning-cardano-s-dapp-dominance">Questioning Cardano’s dApp Dominance</h2>
<p style="text-align: justify">In a recent critical tweet, Hayes highlighted the absence of Cardano-based decentralized applications (dApps) in the top echelons of fee generation, a place dominated by dApps like Lido Finance (LDO) and Uniswap (UNI). He challenged those who champion ADA’s prospects, contending that the Cardano network lacks robust applications as often portrayed.</p>
<p style="text-align: justify">Cardano Founder Charles Hoskinson confronted Hayes’ remarks, seeking to clarify the issues raised. Despite potential discord, Hoskinson’s replies to the criticisms maintained a tone of civility.</p>
<p style="text-align: justify">Hayes has previously expressed his distaste for Cardano during an interview, slamming the project’s performance and questioning its price trend. He has favored Ethereum’s adoption in the past and dismissed Cardano as an imitator. Following this wave of criticism, ADA has seen an 81% plunge from its peak value in September 2021.</p>
<h2 id="cardano-s-market-response-to-criticism">Cardano’s Market Response to Criticism</h2>
<p style="text-align: justify">Despite a sluggish trend in the broader crypto market, Cardano’s token ADA recently displayed resilience, climbing over 8% in a week and 15% in the past 30 days. However, Hayes’ adverse comments have seemingly impacted ADA’s market sentiment, with its price dipping 4.06% to $0.5977. Currently, ADA’s market capitalization stands at $21.21 billion, with a modest increase in trading volume.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitmex-co-founder-critiques-cardanos-performance-and-projects" rel="noopener noreferrer nofollow">BitMEX Co-Founder Critiques Cardano’s Performance and Projects</a></h5>

BitMEX Co-Founder Critiques Cardano’s Performance and Projects

Table of Contents

BH NEWS

Other articles published on Feb 21, 2024

Apecoin price surges to 6-month peak following Arbitrum partnership

Top Crypto Analyst Predicts Major Surge in Altcoin Market

Bitcoin Super Holders Grow Their Stash as Market Dynamics Shift

Is Cardano a ‘wannabe Ethereum?’ What Hayes, Hoskinson have to say

Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap (21 Feb)

AI Revenue Race Intensifies With Google’s Launch of Gemini for Workspace

Join our free newsletter for daily crypto updates!