Nansen CEO Predicts Cardano Will Drop Out of Top 20 Cryptocurrencies by 2026

In accordance with TheMarketPeriodical, Nansen CEO Alex Svanevik has made a bearish prediction about Cardano, forecasting that it will fall out of the top 20 largest cryptocurrencies by 2026. Svanevik described Cardano as a 'ghost chain' with low usage and noted that projects like Hyperliquid, Monad, and Zcash could overtake it. The ADA price has dropped over 55% from its year-to-date high and is currently at its lowest level since November 2023. DeFi Llama data shows Cardano's DeFi TVL has declined by 27% in the last 30 days to $215 million, significantly lower than Solana's $20 billion. Cardano's ecosystem has only 61 dApps, compared to 1,664 on Ethereum. Additionally, its stablecoin market cap is $38 million, far below newer chains like Plasma and Hyperliquid. The number of active Cardano addresses has also declined to under 22,000, much lower than Solana's 2.3 million. Technical analysis suggests ADA could fall to $0.27, pushing its market cap to around $9.9 billion and dropping its ranking from 10th to 14th.