Cardano ($ADA ): The $23B Ghost Chain?
Cardano is the 9th largest cryptocurrency with a market cap of $23.6B and a fully diluted valuation (FDV) of $30B+. It's listed on all major exchanges, including Binance.
But here’s the catch:
Despite all the hype, real usage is extremely limited.
Some numbers:
Fees collected in the last year: $4.3M
6 months ago: $3.48M
(That’s a slow rise for such a high market cap.)
ADA has been around since 2017 — nearly a decade in crypto years. It's even being talked about for the US Strategic Reserve. But the chain still lacks strong adoption.
The question is:
What justifies a $23B valuation?
Are we betting on potential, or are we still holding onto promises from 7 years ago?
Maybe Cardano really is the future.
Or maybe... it’s just another ghost chain.
What do you think?
