ADA

Nansen Founder Critiques Cardano’s (ADA) $8+ Billion Market Cap

by BSCN

September 21, 2023

chain

Cardano (ADA) has fallen far from historical levels of attention and interest within the blockchain industry, but it still holds a sizable market capitalization, as highlighted by Nansen CEO, Alex Svanevik.

The founder and CEO of well-respected blockchain data platform, Nansen, took to X/Twitter to seemingly draw comparison between the volume of donations recently received by Ben Armstrong, and the existing market capitalization of Cardano’s native asset, ADA.

Whilst the total donations received by Armstrong do not hold a candle to ADA’s market cap, which currently stands at more than $8.7 billion, Alex Svanevik seems to imply similarities in the degree of surprise that individuals may experience toward both figures.

“Never underestimate a chubby, bearded Youtuber”, reads Svanevik’s X-post
Source: X/Twitter (@ASvanevik)

X-users have indicated surprise and outrage at the donations given to Armstrong to help fund his legal battle against Hit Network, which Armstrong claims to have received a ‘death threat’ from. 

Cardano (ADA) meanwhile, which has fallen from industry interest in recent months, still holds a sizable market capitalization which places it 8th on the list of the world’s largest digital assets. Certainly, this is far from ADA’s all time high size of around $95 billion, but the network’s TVL holds strong at nearly $150 million.

Nonetheless, Svanevik appears to believe that pundits could be surprised at Cardano’s current size, seemingly given its fall from industry prominence and attention, and even goes on to describe both Armstrong and Charles Hoskinson, Cardano’s founder, as “bearded” and “chubby”.

Source: @ASvanevik's response to his own X-post

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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