Cardano’s “Ghost Chain” Debate Reignites as ADA Falls 

• Cardano faces criticism for low TPS and declining market efficiency regardless of excessive TVL.
• Scammers goal Cardano customers with fraudulent ADA token migration schemes.
• ADA value reveals a unfavourable development with a declining RSI and bearish MACD crossover.

Cardano continues to attract criticism from the crypto group over its low transaction quantity and declining market efficiency. Regardless of $22 billion locked throughout the community, the platform handles only one.3 transactions per second (TPS), sparking considerations about its utility and future.

Most argue that this low transaction price implies that lower than 1.5 customers are utilizing the community at any given second, prompting some to label the state of affairs a disaster for Cardano.

Cardano noticed 6,697 transactions in a single hour, averaging an precise TPS of 1.86. Over 24 hours, the blockchain processed 112,179 transactions at a median TPS of 1.3. The 7-day tally is 826,066 transactions, with a barely larger TPS of 1.37.

Moreover, the utmost TPS worth is zero throughout all timeframes, suggesting that no peak transaction price has been recorded or the information is unavailable.

Safety Warnings and Scammer Alerts

The Cardano staff warned their group about scammers focusing on the community by issuing a safety warning. Scammers are reportedly making an attempt to take advantage of customers by sending pretend emails providing help with an ADA token migration.

The Cardano staff urged customers to stay cautious, stating that if a proposal appears too good to be true, it in all probability is. They suggested the group to ignore any suspicious emails, corresponding to one which falsely claims a migration to v2 ADA tokens.

Value Decline and Technical Evaluation

Cardano’s value has struggled lately. Over the previous week, the worth of ADA has fallen, beginning round $0.4096 on September 28 and dropping to roughly $0.34 by October 2.

Learn additionally: Cardano Flexes Its Muscular tissues: 8 Transactions, 1600 Recipients at Simply $2.38 Charges

This decline was adopted by minor strikes across the $0.34–$0.35 vary. As of October 4, the value is $0.348, however the total development is bearish.

Technical indicators, such because the MACD and RSI, additionally level to this unfavourable sentiment. The MACD reveals a bearish crossover, with the blue MACD line dropping under the orange sign line.

The RSI is at 43.79, indicating a bearish zone, though not but in oversold territory.