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.

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.

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)