- Ethereum advocate Evan Van Ness recently took to X to call Cardano a “Zombie” network.
- Apparently, Base flipped Cardano in the TVL rankings by more than $20 million.
Base is a new layer 2 crypto project that aims to make transactions faster and cheaper in the blockchain. Apparently, it is attracting a lot of people who want to build on this blockchain. On the other hand, the Cardano network is suffering from massive losses after Base flipped it in TVL rankings.
Ethereum Enthusiast Calls Cardano Network “Zombie” Blockchain
- Most of the time, people refer to the Cardano network as a blockchain ecosystem with no activity. Many times, the founder of this crypto project, Charles Hoskinson, exchanged words with Ethereum enthusiasts for this. Apparently, Hoskinson argued that Cardano is still on track to flip the Ethereum blockchain. But it seems like this is all words with no actions.
- As the day goes by, the Cardano network creates more reason for Ethereum enthusiasts to taunt it. Remember that Coinbase’s Base recently launched some weeks ago. It is a new layer 2 blockchain claiming to help improve the scalability of the blockchain
- But something happened. So, new data from DefiLlama reveals a change in some metrics. Apparently, the total value locked (TVL) on Base is now greater than Cardano. Ethereum advocate Evan Van Ness recently took to X to point to the fact. Apparently, this Twitter user was quite bewildered about how a blockchain launched a few weeks ago could do that to Cardano. It further shows how much work the Cardano network has in its hands.
- Furthermore, this new change made the Ethereum enthusiast call Cardano a “Zombie” blockchain. Considering this new development, these Ethereum enthusiasts look right in the name-calling. On the other hand, it also signifies the pace at which Base is growing. Many crypto and NFT projects are building on this network. The latest is Coca-Cola for their new NFTs.
Change in TVL Leads to Base Flipping the Cardano Network
- At the time of writing, Ethereum still takes a large chunk of the TVL rankings. Apparently, it takes more than half of the figures at more than $21 billion. Secondly, Tron follows suit. Tron is one of the networks building low-key with more than a $5.2 billion TVL.
- Base, on the other hand, ranks 12. Apparently, this growth is quite huge for a network launched a few weeks ago. It currently has more than $188 million in the TVL rankings. This is more than DeFichain, Cardano network, and Bitcoin.
- Furthermore, the Cardano network is miles away from the Base currently. The “Zombie” blockchain currently ranks 14 and has a TVL of about $160 million. This is quite poor.
Conclusion
New metrics show how much Coinbase’s Base is doing well in the market. Apparently, it is now on a mission of flipping over many old networks in the TVL rankings. One of those affected by the new development is Cardano. However, this attracted the criticism of an Ethereum enthusiast, calling Cardano a “Zombie” blockchain.
