ADA Rallies by 12.20% Despite Social Media Critics on Performance

In a recent social media debate, MartyParty, a host of the crypto traders club space, criticized Cardano’s ($ADA) performance, juxtaposing its transaction speed with its market capitalization. According to the tweet, Cardano operates at 1.68 transactions per second despite boasting a $23.5 billion market cap.

The host said:

Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap?

MartyParty’s message urged the community to reconsider their investments in Cardano, advocating for a switch to more efficiently performing blockchains. This statement, made on March 26, has sparked varied reactions within the cryptocurrency community.

Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap? 👀

Please people be smarter – sell this token and move to a adopted performing blockchain native token. For the love of god. pic.twitter.com/7TPp401mbs

— MartyParty (@martypartymusic) March 25, 2024

In contrast, a user known as SonofGeo has expressed unwavering support for Cardano, implying a deep belief in the blockchain’s potential beyond its current transaction speed. Nonetheless, MartyParty dismissed SonofGeo’s defense, emphasizing widespread uncertainty about Cardano’s capabilities.

Yes nobody does

— MartyParty (@martypartymusic) March 26, 2024

The recent bullish momentum of ADA added another layer to the ongoing debate. Cardano’s native token witnessed a significant 12.2% increase in its price over the past week and a notable surge in market capitalization to $24.165 billion.

This upswing in value and market interest, characterized by a 35.4% hike in trading volume, reaching nearly $599 million, suggests growing investor confidence in the ADA token’s potential.

ADA/USD 1-Week Chart (Source: CoinStats)

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