‘Vaporware’ Cardano outpaces Bitcoin, Ethereum in this category

ambcrypto.com:

The Cardano ecosystem, over the years, distinguished itself from its competitors by taking a more rigorous approach to deploying new features.  The #7 largest coin suffered a fresh 2% correction in the past 24 hours as it traded at the $1.04 mark. It is interesting to note that analysts and even some developers have started questioning Cardano’s roadmap.

Chris Burniske, a partner at crypto-focused venture capital firm Placeholder was one of them. He addressed Cardano as a ‘vaporware’ in response to a question on why the price of ADA seems not to be appreciating. According to Chris, the project promised more than it could deliver.

— Chris Burniske (@cburniske) February 8, 2022

Burniske has long been a critic of the Cardano blockchain. Last year, he cited Cardano as an example of a project that has been sustained by hype. Even though the criticism prevails, there are plenty of reasons to be optimistic about.

Crypto data aggregator Messari.io (Chains activity) showcased a positive sign for Cardano when compared to its rivals. According to the data, ADA outpaced Bitcoin and Ethereum for most transaction activity (adjusted transaction volume in the last 24 hours).

Source: Messari.io

According to the transaction behavior, ADA represented an adjusted transaction volume of $17.15 billion. Ergo, beating out BTC and ETH at $15.1 billion and $8.6 billion, respectively.

[Here, adjusted transaction volume offers more information about transaction volume. It describes a way to fairly compare UTXO style transactions and account-based transactions.]

Interestingly, this was the first time Cardano exceeded Bitcoin’s adjusted transaction volume. Thereby,