Shark Tank investor Mark Cuban says Cardano (ADA) hasn’t yet proven itself as a viable crypto project compared to some of the other big names.
In a new interview with Altcoin Daily, Cuban says if Charles Hoskinson was on Shark Tank, he would ask the Cardano founder where his revenues were.
“I guess the people in Africa are not using it as much as they expected, because you don’t see the transactions, you don’t see the fees… Look at the number of transactions. To me, that’s the bellwether of success…
I don’t see where Cardano has had much of an impact at all. They got their smart contracts like a year ago and that was going to be their inflection point. [Shrugs shoulders] Inflect away, Cardano. I haven’t seen it…
That doesn’t mean… look, I’ve talked about it with Ethereum, with Polygon. If the next great application that everyone wants to use is on Cardano and you have to buy ADA – go for it, that’s great. The door is open for that to happen. But it hasn’t happened yet.”
The billionaire says that while Cardano does have a large market cap, that is not necessarily indicative of success. He says that meme token Dogecoin (DOGE) also has a massive market cap, and in his view, has more utility than ADA.
“Dogecoin’s got a huge market cap. Shiba Inu’s got a huge market cap. But there’s no… I still think Dogecoin has more applications potentially available to it than Cardano… The opportunity for Cardano is greater until DOGE really becomes a platform for applications.
You get my point, right? It’s still a business. No matter what you say, no matter how you position it, no matter what your market cap is – there has to be some there. And that’s why Cardano pushed for smart contracts, I’m guessing. That’s why schools in Africa need Cardano. But… it’s just not there yet.”
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Source: https://dailyhodl.com/2022/08/08/billionaire-mark-cuban-criticizes-cardano-says-dogecoin-doge-has-more-use-cases-than-ada/