$ADA the $23 billion Cardano market, citing low transaction volume (1.3 TPS) and limited DeFi growth, with only $418 million in total value locked (TVL) compared to competitors. The community defends Cardano's research-based approach, the scalable Hydra layer (1M TPS in testing), and the Ouroboros protocol, arguing that metrics like TPS do not fully capture its potential. Recent debates also center on governance, with Charles Hoskinson proposing a $100 million treasury allocation for DeFi liquidity, provoking mixed reactions. Some see it as a boost, while others view it as a risk of sell pressure.