Cardano Could Plunge 80% More As ‘Most Useless Network,’ Analyst Claims

Crypto analyst Ali Martinez criticizes Cardano as the 'most useless network,' arguing its market valuation doesn't match actual usage with DeFi TVL never exceeding $1 billion. He warns ADA could drop another 50-80% if it breaks below $0.245 support, potentially reaching $0.051.

• →Cardano's DeFi total value locked has never exceeded $1 billion despite being among the largest cryptocurrencies by market cap.
• →Newer chains like SUI have already surpassed Cardano in usage metrics according to the analyst.
• →Cardano's research-driven development model has resulted in slower feature rollouts compared to competitors.
• →Smart contracts weren't introduced until 2021 despite Cardano launching in 2017, giving competitors a multi-year head start.
• →Critical support level at $0.245 could lead to 50-80% further decline if broken, targeting $0.112-$0.051.