CandleFocus Cardano’s “Ghost Chain” Debate Reignites as ADA Falls
2024-10-04
Author: Content Editor
The crypto community is criticizing Cardano for its low transaction volume and declining market performance. Despite having $22 billion locked within the network, Cardano only handles 1.3 transactions per second (TPS), leading to concerns about its utility and future. Some argue that this low transaction rate means less than 1.5 users are using the network at any given second, leading to claims that the situation is a catastrophe for Cardano. Additionally, scammers are targeting the network by sending fake emails offering assistance with a token migration, prompting the Cardano team to issue a security warning and urge users to remain cautious. The price of ADA has also struggled recently, falling to approximately $0.34 and showing a bearish trend according to technical indicators.
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