Tanaka
Founder of Kollab3, DeFi Researcher
Polkadot is another failed "Ethereum killer": its parachains never generated meaningful adoption while the DOT token kept inflating year after year. Hype over relay chains, parachains, crowdloans and slot auctions drove DOT to $54 in 2021; it now trades around $0.84, down about 99%. Investor confidence has disappeared and the ecosystem has slowly faded. x.comÂ
Older-generation layer-1s such as Cardano and Polkadot lack the catalysts needed for a comeback. A post the author replies to notes Cardano has collapsed 93.4% from a $101B peak to a 5.5-year low. x.comÂ
Wall Street seems to be ditching legacy altcoins such as Cardano and Polkadot. Grayscale pulled its ETF filings for both after a year, right after pulling its Hedera ETF. x.comÂ
Polkadot remains bullish over the longer term as one of the few crypto tokens backed by an ETF. x.comÂ
Movement Labs' Chapter 11 filing is one more group of grifters finally getting margin called, and the rest of the scammy, overvalued alt L1s will go the way of the dodo, same as Movement. x.comÂ
Ethereum feels weak with no clear catalyst, despite an appealing story of institutional adoption for real utility and infrastructure. The crypto craze may have petered out after about 15 years, and bitter memories of losses from counterparty blowups such as Voyager and FTX may never fade. x.comÂ
Cardano is hollow, with high costs and low usage, and the shutdown of TapTools, one of its main data and infrastructure platforms, is a leading indicator that apps will follow. It sold decentralization and research for years while deferring speed, UX and incentives, lacking the builder culture that carried Ethereum and Solana. Its value has fallen from about $95B to roughly $8B, and founder Charles Hoskinson warned more Cardano DeFi projects could die in late 2026, per Coin Bureau. x.com x.com … Show more
Cardano, Hedera and Polkadot lost a potential demand catalyst after Grayscale withdrew its ETF filings for ADA, HBAR and DOT, which is clearly not bullish. Per @ZenaXBT, the filings had sat with the SEC for about a year, and no reason was given. x.comÂ
Cardano is large-cap vapour trending toward zero: a $7B fully diluted valuation is utterly ridiculous for a legacy infrastructure project that has delivered nothing. Everyone holding for the last six years is at a loss, and the next cycle is unlikely to repump it because retail now has more attractive frontier equities to chase. Long revenue-producing crypto assets with value accrual and short vapour infrastructure remains a good long-term trade. x.com x.comÂ
Litecoin's dream is dead, despite its respectable standing among older coins. It never achieved Lindy status, and with bitcoin and Zcash already occupying its positioning, it is unclear what catalysts for Litecoin even exist. x.comÂ
Cardano is in trouble when its founder publicly questions how to solve its problems. After TapTools shut down, Charles Hoskinson warned that more ADA projects are going to die and that it will be a tough year for the project. x.comÂ
