K33 Research: The Cardano network lacks meaningful use cases and trustworthy tracking records

The K33 Research report indicates that the Cardano network lacks meaningful use cases or any credible track record, which is not a good sign for its native token ADA.

K33 Research emphasizes the situation of Cardano stablecoins, stating that a smart contract network without USDT or USDC means it has no purposeful activity. It asserts that nothing happens on the network apart from "exchange transfers and a group of people fabricating blockchain activities."

The K33 Research report also concludes that without any traction, even Cardano's years of history cannot save it from becoming "irrelevant over time."