Is Cardano [ADA] a mere ghost chain?

Sahana Kiran
Source – Unsplash

The crypto-verse is home to thousands of assets. Each serves a different purpose. However, they are interconnected in one way or the other. Over the last couple of months, meme coins witnessed significant traction. Their social media game was so strong that even assets that have existed for quite some time fell back. This was carried forward to adoption as well. Cardano [ADA] was one among them. Another aspect that the network has been worrying quite a few about is Cardano’s limited acceptance.

Its no doubt that Bitcoin [BTC], Ethereum [ETH], XRP, and most assets in the top ten are widely adopted. Assets like Shiba Inu [SHIB] have also garnered this acceptance. However, Cardano has failed to amass a spot on prominent crypto platforms like Robinhood and Gemini.

ADA Whale, a member of the Cardano community, noted that the reasons behind the network’s exclusion are pretty complex. This has made the network self-sufficient. ADA whale even believes that Cardano can do everything others could. Taking a dig at Ethereum’s upcoming shift to proof-of-stake [PoS], the whale tweeted,

“So more and more, you get this sort of thing. Conditioned for hate, probably used to have a vague idea why. Now Cardano can do everything others can, has superior stability/security, PoS long before Eth, perhaps most educated & strongest community. Mommy, I just don’t LIKE it!”

Additionally, the community did not seem to be bothered by acceptance. ADA whale pointed out that the network wanted to uphold authenticity by building its crypto version.

Cardano plummets below XRP once again.

The crypto community was taken aback when Cardano flipped XRP regarding market cap over the weekend. This was surprising to many, considering the recent delay in the network’s much-awaited Vasil hard fork.

However, this notion did not last too long. At press time, ADA was back as the eighth largest cryptocurrency with a market cap of $17.54 billion. XRP, on the other hand, had climbed the crypto ladder and took over sixth place.

The Vasil hard fork was initially scheduled to occur at the end of July. However, the network affirmed that there would be a few more weeks of delay. While the hard fork was expected to spruce up the network, the price of ADA was also envisioned to witness a surge.

But the price of ADA was down by 2 percent over the last 24 hours, and it was seen trading for $0.5187.