K33 Research, a prominent entity in the cryptocurrency research sector, has released a scathing report on Cardano (ADA), sparking widespread discussion in the crypto community. The report bluntly advises investors to divest from Cardano, citing a lack of meaningful use for its native token, ADA. Sell All ADA Now? In a detailed examination, K33 Research asserts that the Cardano network suffers from a significant lack of practical application, which is essential for the inherent value of its native token. The report states, “A smart contract network needs meaningful use for its native token to have any value. The Cardano network, however, has no meaningful use or any credible track to get it.” Addressing the counterargument often presented by Cardano supporters regarding the network’s daily transactions averaging around 90,000, the report argues that these do not equate to meaningful blockchain activity. The report further elaborates, “There’s nothing else going on in the Cardano Network than exchange transfers and a group of bagholders fabricating blockchain activity.” Related Reading: Cardano’s 2024 Kickoff: First Two Weeks Show Major Updates, Repor ..
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