Now That Cardano is Finished, What’s the Next Major Opportunity? (ADA Price Forecast)

Cardano (ADA) finds itself in the midst of an identity crisis. The ADA price is hovering around multi-month lows, and discussions about its future direction have divided its community. Founder Charles Hoskinson now proposes a bold shift: Cardano should establish itself as a fundamental self-executing contract layer for Bitcoin DeFi.

Yet, critics of Cardano like former BitMex co-founder Arthur Hayes are not letting Hoskinson evade responsibility.

Where’s the apology for predicting thousands of dApps in 2022, while Cardano has only 59 in 2025 with any substantial volume? Where’s the apology for claiming Chainlink integration in 2021, yet still being in negotiations in 2025?

Cardano’s largest dapp, a dex aggregator, has under 1k daily active wallets. The chain lacks volume, available volume, and even usable stablecoins. Is Cardano merely a ‘dead chain walking,’ as Hayes suggests?

DISCOVER: 20+ Next Crypto to Explode in 2025

Is Cardano Losing Its Narrative?

This week, Hoskinson acknowledged that Cardano is facing a “narrative void.” Despite years of technological advancements, including Leios, Hydra, Midnight, and the Glacier Drop, the network continues to be mired in criticism for lacking a distinct mission.

“Cardano has tremendous innovation but continues to suffer from perception problems,” Hoskinson stated in a recent Twitter post.

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 pic.twitter.com/riQORI6Ipy

— Arthur Hayes (@CryptoHayes) February 21, 2024

Given Cardano’s status as a ghost chain regarding Dapps, Hoskinson has claimed that BTC Decentralized finance, supported by wallets like Lace and new stablecoins such as USDM, could access Bitcoin’s $2 trillion market fluidity pool and provide ADA with newfound significance.

However, skeptics remain doubtful: “Who gives a f*ck? Zero?” remarked Arthur Hayes, co-founder of BitMEX, in an interview last year with Token Bureau when questioned about Cardano.

DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025

Cardano Price Data: ADA Under Pressure

Cardano’s difficulties are evident on-chain. As per CoinGlass, ADA open interest has dropped compared to Solana and ETH, indicating limited institutional engagement.

Data from DeFiLlama illustrates how significantly Cardano trails behind its competitors. The total value locked is around $380M, in contrast to $11Bn on Solana and $97 billion on Ethereum. Daily DEX volume remains below $3M, while Solana surpasses $1 billion.

This discrepancy has sparked skepticism regarding ADA’s standing in the market. Cardano counts merely 59 functioning dApps in 2025, falling far short of Charles Hoskinson’s 2022 prediction of “thousands.”

Hayes reinforced this point by sharing a list of the most utilized decentralized apps (Dapps) worldwide: none of them originated on Cardano. “That’s why ADA is dog shit,” he stated.

Now, it’s fair to acknowledge that Hoskinson believes Cardano’s fate hinges on channeling Bitcoin’s capital into decentralized applications. Should BTC DeFi evolve into a robust trading market, Cardano could emerge as a neutral self-executing contract layer designed to enhance Bitcoin rather than vie with it.

ADA Price Outlook: Rebound or Further Decline?

ADA is maintaining a steady rise, forming higher lows as the day progresses. Key base level is positioned at $0.859 on the 200 SMA, with $0.855 below it, while $0.865 restricts the upside. A breakout could propel the crypto token towards $0.87.

Momentum indicators trend optimistic. The Bollinger Bands have broadened with the surge, and the ADA price is currently near the upper band. A decisive leap above $0.865 would sustain the rally.

However, this isn’t sufficient. If ADA fails to establish a narrative within the multitude of L1 blockchains, it will falter. It’s already significantly trailing behind Ethereum and Solana. Before long, newer, faster chains like Sei Crypto, Sui Crypto, and Kaspa will overshadow it as well.

EXPLORE: Singapore Denies Do Kwon’s $14M Refund Demand For ‘Stolen’ Penthouse

Join The 99Bitcoins Announcement Discord Here For The Latest Market Updates

The post Now That Cardano is Dead, What’s The Next Big Thing? (ADA Price Prediction) appeared first on 99Bitcoins.