K33 Research: The Cardano network is detrimental to its native token ADA
ChainCatcher news, K33 Research report indicates that the Cardano network has no meaningful use or any credible track record, which is not a good sign for its native token ADA.
Additionally, K33 Research emphasizes the situation of Cardano stablecoins, a smart contract network that has neither USDT nor USDC, meaning it lacks purposeful activity. It asserts that nothing is happening on the network except for "exchange transfers and a group of people fabricating blockchain activity."
The K33 Research report also concludes that without any traction, even Cardano's years of history cannot save it from "becoming irrelevant over time."
It is reported that Cardano is a decentralized and open-source public blockchain that uses a proof-of-stake consensus mechanism. It enables peer-to-peer transactions through its native cryptocurrency ADA.