Crypto Capital Venture’s founder Dan Gambardello has drawn attention to some serious obstacles that stand in the way of Cardano‘s (ADA) rise as a high-potential altcoin. Gambardello described these barriers as “unique” and “significant,” stating that they are a combination of various factors in the cryptocurrency market.
Shedding Light on Cardano’s Obstacles
Gambardello pointed to the confusion fueled by misinformation and negative narratives spread by the best players and venture capital firms as one of the main obstacles facing Cardano in the industry. The founder of Crypto Capital Venture likened this situation to being excluded from a prestigious party despite being the best competitor in the market. He emphasized that despite these obstacles, Cardano continues to be among the top ten cryptocurrencies.
It is known that the influence of venture capitalists in the cryptocurrency market extends to media outlets, allowing them to shape narratives about altcoins like Cardano. Gambardello highlighted that these investors have a significant impact on media companies, promoting certain narratives that may not accurately reflect Cardano’s strengths or achievements.
Gambardello emphasized that the misinformation and negative narratives about Cardano are often generated by crypto data companies influenced by venture capitalists like the defunct FTX Ventures. He pointed out that these companies may ignore positive data surrounding altcoins like Cardano or report incorrect data, and even prefer to promote projects that align with their interests, leading to the spread of false narratives and erroneous data about the performance of altcoins like Cardano.
ADA’s Struggle to Showcase Strength
The negative narratives surrounding Cardano ultimately affect the altcoin’s market reputation and price performance. Cardano’s native asset ADA, despite its efforts to reach the $1 level, continues to struggle to stay above the $0.70 threshold, with a 1.89% loss in value over the last 24 hours at the time this article was prepared. Gambardello added that the prevalence of misinformation in the market could continue to hinder ADA’s rise or limit its growth.
Gambardello’s observations shed light on the significant barriers Cardano faces in becoming widely recognized and adopted in the cryptocurrency market. The project has managed to stay in the top ten cryptocurrency list while trying to overcome these obstacles, showing the expected strength so far.
