Cardano (ADA) Is About To Die and Turn into A ‘Zombiechain,’ Ethereum Maxi Says

Christian Encila

Last Updated: October 1, 2022 1:02 pm

3 mins read

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Cardano (ADA), the 8th ranked crypto asset in terms of market capitalization, remains in the red as it loses 6.3% of its value in the last seven days.

Cardano lost more than 6% of its value for the past week
UniSwap surpassed ADA in terms of daily average transactions
Positivity remains among crypto enthusiasts for Cardano

As of this writing, according to Coingecko, the asset is trading at $0.43 but still remains one of the top 10 digital assets thanks to its market capitalization which stands at almost $14.7 billion.

They hefty market cap, however, is not enough to fend off some negative criticisms and projections about the crypto created by the Hong Kong Input-Output (IOHK) led by Ethereum co-founder Charles Hoskinson.

In fact, Evan Van Ness, a well-known die-hard fan and Ethereum maximalist, claims the token is already at death’s door and will soon turn into a “zombiechain.”

Let’s check in on the $ADA zombiechain ?⛓️

Not only does Cardano do less than one transaction per second…

Uniswap does substantially more transactions than Cardano pic.twitter.com/wg0fNoFPck

— Evan Van Ness ?? (@evan_van_ness) September 29, 2022

ADA Losing Steam

Aside from his belief that Ethereum is the best crypto out there, Ness has some alarming information regarding Cardano which could spell its immediate future.

ADA’s network is currently living at an incredibly low transaction count of less than one per second. That’s lesser than other assets with lower market capitalization.

UniSwap, for example, only has $4.9 billion market cap, but is beating Cardano on the seven-day average of daily transactions.

Source: Evan Van Ness

This is surprising, considering that UniSwap also has significantly higher daily fees count, currently at $1 million, compared to ADA’s $10,000.

What Lies Ahead For Cardano

While Ness says a lot of negativity towards a crypto asset that was once making breakthroughs, some remain positive about its future.

Coin Quora, armed with the results of their price monitoring for Cardano, said the asset will have a bullish run and will close the year with a price of $12. It also predicted that by 2023, its value will increase up to $18.

By 2025, however, the crypto, having experienced price corrections, will change hands at significantly lower prices.

Analytics Insights place the value of Cardano at $3.81, going as low as $3.68 and as high as $4.38. Both prices are way higher than its current value, $0.43.

It remains to be seen if the Ethereum’s maximalist’s claims pack some truth into them, but ADA’s recent performance so far is not helping its case.

ADA total market cap at $14.7 billion on the daily chart | Source: TradingView.com

Featured image from Cute Wallpaper.org, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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