Cardano (ADA) has long been a key player in the cryptocurrency market, consistently ranking high in market capitalization. However, its recent performance has raised concerns among investors about its future viability. Despite being included in a proposal for a national crypto stockpile, its market activity tells a different story, leading some critics to label it as a ‘zombie crypto.’ The Cardano network lags behind in the decentralized finance (DeFi) sector, with significantly lower total value locked (TVL) compared to competitors like Ethereum and Solana, resulting in challenges in attracting liquidity and stablecoin activity. Although proponents argue that Cardano’s DeFi is still developing, other newer blockchains have surpassed it in terms of user engagement and trading volumes. As 2025 approaches, Cardano has potential catalysts on the horizon, such as a possible ADA exchange-traded fund (ETF) and a growing role in Bitcoin’s DeFi landscape, raising the question of whether these factors can reverse its current trajectory.

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