Crypto trader and influencer Lark Davis is analyzing the potential upside of investing in the smart contract platform Cardano (ADA).
In a new video, Davis takes a hard look at some of the critiques levied at the Ethereum competitor and fifth largest project in the space by market cap.
He first tackles the claim that Cardano is overvalued at a nearly $40 billion market cap, especially when in conversation with the fact that its network currently offers few practical use cases.
“[Cardano is] worth around give or take a few billion… with almost no functional applications currently built on the chain. The main use case for Cardano right now is staking…
I know, the market is always forward looking and the current price is based off of anticipated future value but more than that I think if we’re going to be honest here, the current price of Cardano is riding pretty high on hype versus actual demand for