Ben Armstrong believes that one of the factors for Cardano’s weak performance is the lack of capital from institutions

2 min readApr 10, 2024

Former Bitboy Crypto host Ben Armstrong considers the Cardano blockchain a dying project. The blogger pointed out the network’s performance, noting that few people would list at least 3 projects created on the basis of the blockchain.

Armstrong said that If you trade on an exchange, if you often use the project or its cryptocurrency, this means that there is more liquidity there and that you save on commissions. Which affects the exchange rate, price slippage, and other similar things, he added.

According to him, another factor in Cardano’s poor performance was the lack of capital from institutions. A significant amount of liquidity has become locked in staking, and as long as it is there, investors will not invest much money in the blockchain.

Armstrong said to look where the big money is and where it’s going. TradFi comes to the crypto market, but ADA remains on the sidelines. This does not mean that the coin will not have a good bull run. But that means the ADA will be limited until the bigger fish are satiated.

Cardano founder Charles Hoskinson said that the blogger was previously friendly with him, so it is sad to see how the crypto enthusiast chose the wrong path.

Recently it became known about upcoming updates to the Cardano network.

“We hold all the cards as an ecosystem. We have a better path to scalability, management and innovation. We also have the best community,” Hoskinson said.

A Chang hard fork is expected in the near future, which should be the largest upgrade since the launch of Vasil in 2022. With the help of the update, the concept of governance and interaction in the community will be introduced, consensus will be guaranteed, and ADA owners will be able to use crypto assets when voting.

Another stage will be Ouroboros Leios. We are talking about a new version of Proof-of-Stake, which will increase throughput, scalability and speed of operations.

Previously, Forbes called Cardano a “zombie network,” although journalists did not provide a clear justification for this opinion. The list also included Ripple, Bitcoin Cash, Litecoin and Stellar, which caused outrage among members of the crypto community.

What do you think about the prospects for Cardano?