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

source-logo  bsc.news 21 September 2023 14:54, UTC

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