BitMEX founder slams ADA as "shit," calls out Charles Hoskinson: "You should go buy some ETH instead."
BitMEX founder Arthur Hayes pointed out that Cardano has been around for many years, with a lackluster ecosystem and no new innovative dApps, criticizing its token ADA as being worthless.
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Arthur Hayes: ADA is Shit
Arthur Hayes referenced an Ethereum TVL chart and stated:
In the chart below, which dApps were originally launched on Cardano? Or is there a dApp on Cardano that is widely used? In my humble opinion, Cardano has neither, which is why ADA is shit.
He also tagged Cardano ADA founder Charles Hoskinson, inviting corrections if he was mistaken.
The Cardano lending protocol Liqwid Finance responded in the comments section of a tweet stating that the Cardano team has been launching new DeFi products, such as the exchange Minswap, yield aggregator Optim, and lending protocol Indigo.
For all you $ADA believers, what dAPP on this list originally launched on Cardano, or has a Cardano offering that is heavily used? From my very limited knowledge, looks like none of them do. That's why $ADA is dog shit. @IOHK_Charles pls educate me.
Yachtzee πππππππ pic.twitter.com/riQORI6Ipy
β Arthur Hayes (@CryptoHayes) February 21, 2024
Charles Hoskinson Fires Back: Go Buy Some ETH
Charles Hoskinson later tweeted, tagging Arthur Hayes, and asked, "Why are you badmouthing Cardano? I appreciate your sayings."
Arthur Hayes, seemingly unimpressed, replied:
Because ADA is a piece of shit, but regardless of its price, I appreciate you. Just buy some ETH and relax.
Cause ur coin is a piece of shit man. I like u too many regardless of the price of $ADA.
Just buy some $ETH and chill.
πππππππ
β Arthur Hayes (@CryptoHayes) February 20, 2024
Cardano Still Holds Nearly $400 Million TVL
According to DefiLlama, Cardano's TVL still stands at $399 million, ranking 14th. However, this falls short of Coinbase's Base with $406 million launched just last year, and is even close to Cronos supported by Crypto.com with $353 million.
Nevertheless, Cardano ADA has remained one of the top ten cryptocurrencies by market capitalization in recent years.
