Cardano’s Total Value Locked (TVL) Drops Below Base, Prompting Criticism

One sentence summary – Cardano’s Total Value Locked (TVL) has dropped below that of Base, leading to criticism from Evan Van Ness, who referred to Cardano as a “zombie chain” and questioned its ability to compete in the DeFi space, despite Cardano showing strong development activity.

At a glance

  • Cardano’s Total Value Locked (TVL) has decreased below that of Base, a Layer Two scaling solution developed by Coinbase.
  • Evan Van Ness, a member of ConsenSys and an advocate for Ethereum, has criticized Cardano as a “zombie chain” due to its lower TVL compared to Base.
  • Cardano’s TVL has seen a decline of 9.83% in the past 30 days, while Base’s TVL has grown by 10.18% in the last seven days.
  • Despite the declining TVL, Cardano has shown strong development activity with a high development activity score of 91.9.
  • Cardano has seen a decrease in active addresses, raising questions about its traction and competitiveness in the DeFi space.

The details




Cardano TVL Decrease

Cardano TVL Decrease

Cardano, a leading blockchain platform, has seen a drop in its Total Value Locked (TVL) below that of Base.

Base is a Layer Two (L2) scaling solution developed by Coinbase.

This decrease in TVL has led to criticism from Evan Van Ness, a member of ConsenSys and an advocate for Ethereum.

Van Ness’ Criticism

Van Ness has referred to Cardano as a “zombie chain” due to its lower TVL compared to Base.

Van Ness has consistently critiqued Cardano in the past.

He has previously pointed out Cardano’s lack of transactions.

He has also expressed doubts about Cardano’s ability to compete effectively in the DeFi space.

In the past 30 days, Cardano’s TVL has seen a decline of 9.83%.

In contrast, Base’s TVL has shown a growth of 10.18% in the last seven days.

TVL is a metric used to measure the unique deposits flowing into a protocol.

A decrease in TVL can indicate a reduction in trust and investor interest.

Cardano’s Development Activity

Despite the declining TVL, Cardano has shown strong development activity.

According to Santiment, Cardano has achieved a high development activity score of 91.9.

However, Cardano has seen a decrease in active addresses.

This decrease aligns with Van Ness’ claim that the project lacks traction.

It should be noted that a decrease in active addresses does not necessarily mean that unique addresses will continue to overlook the Cardano ecosystem.

Conclusion

In conclusion, Cardano’s TVL has fallen below Base, leading to criticism from Evan Van Ness.

While Cardano has seen a decrease in active addresses, it has shown high development activity.

These recent developments raise questions about Cardano’s competitiveness.

They also raise questions about its ability to gain traction in the DeFi space.

This brief has been compiled from multiple sources.

It aims to provide a comprehensive overview of the news story.

It remains unbiased and neutral in its reporting.


Article X-ray

Here are all the sources used to create this article:

A pixelated lock symbol with a downward arrow, surrounded by question marks and a few thumbs down emojis.

This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

ambcrypto.com
– Cardano’s Total Value Locked (TVL) has dropped below Base, a Layer Two (L2) scaling solution built by Coinbase.
– Evan Van Ness, a ConsenSys member and Ethereum advocate, has criticized Cardano, calling it a “zombie chain” due to its lower TVL compared to Base.
This is not the first time Van Ness has criticized Cardano, as he previously pointed out its lack of transactions and questioned its ability to compete in the DeFi space.
– Cardano’s TVL has decreased by 9.83% in the last 30 days, while Base’s TVL has increased by 10.18% in the last seven days.
The TVL measures the unique deposits coming into a protocol, and a decrease in TVL indicates a decrease in trust and investor interest.
Despite the lower TVL, Cardano has seen high development activity, with a development activity score of 91.9 according to Santiment.
– However, Cardano has experienced a decline in active addresses, which aligns with Van Ness’ opinion that the project lacks traction.
The decline in active addresses does not necessarily mean that unique addresses will continue to overlook the Cardano ecosystem.

发表回复