Will Cardano Drop Out of the Top 20 Cryptos? Nansen CEO Issues Stark Warning – Crypto Data Space

Cardano Criticism Intensifies: Will ADA Maintain Its Market Cap Ranking?

Cardano (ADA), currently the 10th-ranked cryptocurrency by market capitalization, has endured a harsh year, falling 44.55% over the last 12 months and 27.85% in the past 30 days. Its price has dropped from around $0.82 to below $0.50, sparking a wave of skepticism about its future among industry analysts.

Nansen CEO Labels Cardano a “Ghost Chain”

Alex Svanevik, CEO of Nansen, has painted a grim picture for ADA, suggesting that Cardano could drop out of the top 20 cryptocurrencies. According to Svanevik, Cardano suffers from low real-world utility, minimal active users and developers, and insufficient on-chain activity to sustain growth. He described the blockchain as a “ghost chain,” emphasizing that ADA has failed to stabilize or regain investor interest since its last peak, which was less than half of its 2021 all-time high (ATH).

Hyperliquid, Monad, and Zcash Poised to Surpass Cardano

Svanevik highlighted that emerging blockchains could overtake Cardano in both market capitalization and relevance. He specifically mentioned Hyperliquid, Monad, and Zcash as potential competitors. Hyperliquid is gaining traction as a chain optimized for perpetual trading, Monad as a high-performance Ethereum Virtual Machine chain, and Zcash continues to attract attention as a privacy-focused currency.

Community Pushback and Ongoing Debate

Not everyone in the crypto space agrees with Svanevik’s forecast. Some traders note that Cardano has historically faced harsh predictions in every market cycle yet remained within the top 10. Critics question how a blockchain with “no users,” as Svanevik claims, has maintained relevance for nearly a decade. Meanwhile, Cardano founder Charles Hoskinson has not publicly responded to the recent critique, though he previously suggested that 2026 could be a landmark year for crypto, implying potential optimism for ADA.

Cardano Price Snapshot

At the time of writing, Cardano trades at $0.4657, a slight 0.12% drop in the past 24 hours. The $0.4600 support level has been briefly breached but was quickly reclaimed, signaling a critical point for ADA in the near term.

Will Cardano Drop Out of the Top 20 Cryptos? Nansen CEO Issues Stark Warning