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Cardano Called the ‘Most Useless Network in Crypto’ as ADA Down 92% From ATH

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Cardano Called the 'Most Useless Network in Crypto' as ADA Down 92% From ATH


The analyst who made that claim also laid out the most important support levels for ADA going forward.

Popular crypto market observer and commentator Ali Martinez took it to X to criticize the popular blockchain network, Cardano, for its failure to deliver on many of its promises.

Given the project’s popularity, many of the comments below the post lashed out at his harsh words, but there were some that agreed with his statements.

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Most Useless Blockchain?

In a post titled “The Most Useless Network In The Crypto Market,” Martinez began by indicating that the Cardano DeFi ecosystem has never exceeded the coveted $1 billion mark. He added that it has “historically been only a fraction of what is locked on competing platforms like Ethereum.”

A quick double check on DeFiLlama confirms his words, as the Cardano TVL in DeFi peaked last year at roughly $700 million. However, the value has plummeted to $136 million as of press time. In comparison, the TVL on Ethereum is currently at a whopping $55 billion, down from almost $100 billion reached last year.

Solana’s TVL jumped to over $12 billion in September 2025, but it’s down to $6.6 billion as of now. Martinez also compared Cardano’s TVL with newer chains like SUI, which has already surpassed it with $568 million after peaking at $2.5 billion last year.

“Unlike Ethereum, which has built a dominant position in DeFi, or Solana, which has captured high-speed consumer applications, Cardano still lacks a clear use case that consistently attracts users, developers, and investors,” said Martinez.

He added that Cardano was officially launched nine years ago, but smart contracts were introduced in 2021, which allowed its competitors to “build stronger network effects with more developers, applications, and liquidity.”

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He believes Cardano’s research-driven model, which prioritizes academic review and formal verification, slows down product rollouts compared to other blockchains.

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As mentioned above, the community was split after his post, with some bringing out Cardano’s liquid staking capabilities, while others agreed to a large extent with his words.

ADA’s Survival

Martinez also explained that blockchains that reach scale early tend to attract more capital and talent as this is a market “driven by adoption and network activity.” This makes it “difficult for slower-growing networks to catch up once competitors establish a lead,” which could be the main reason behind ADA’s struggles.

The token peaked at over $3 in 2021, but it has fallen from grace since then, currently trading 91.7% away from those levels. Even the 2024/2025 bull rally managed to drive it to as high as $1.30, and it now sits at around $0.25.

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Martinez weighed in on ADA’s performance as well, suggesting that if it breaks the $0.245 support, it could plunge to the next ones at $0.112 or $0.021, which would represent another 50% to 80% decline.

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Alphabet (GOOG) Stock: Pentagon to Receive Gemini AI Agents for 3 Million Defense Personnel

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Key Highlights

  • Pentagon’s complete 3 million-person workforce will gain access to Google’s Gemini AI agents
  • Initial rollout targets unclassified systems, while discussions progress for classified network integration
  • Platform offers eight pre-configured agents designed for budget creation, meeting notes, and strategic planning
  • Defense Department users have generated 40 million prompts through Google’s AI interface since its December debut
  • Training completion remains limited to just 26,000 personnel despite significantly higher adoption rates

Google, owned by Alphabet, has initiated a comprehensive deployment of its Gemini AI agent technology throughout the United States Department of Defense, encompassing approximately three million personnel.


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Alphabet Inc., GOOGL

The initial phase focuses on unclassified network infrastructure, where the majority of Defense Department personnel operate daily. Emil Michael, serving as under secretary of defense for research and engineering, indicated this strategic starting point.

Michael revealed that negotiations with Google are currently active regarding expansion into classified and top-secret cloud computing environments.

Google Vice President Jim Kelly made the announcement public through a Tuesday blog entry. Defense personnel will have the capability to create customized AI agents through natural language commands, eliminating any programming requirements.

The platform launches with eight ready-to-deploy agents. These automated assistants handle functions including meeting documentation, financial planning, and verification of proposed initiatives against national defense objectives.

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Certain agents are designed to provide operational value, assisting with logistical planning and resource forecasting for military operations — capabilities available even on unclassified infrastructure.

Google’s conversational AI interface on the GenAI.mil website has been operational since December. During this period, 1.2 million Defense Department personnel have engaged with the system, generating 40 million distinct queries and submitting over four million documents.

The usage volume demonstrates significant adoption. The Gemini agent platform becomes accessible through this identical portal starting Tuesday.

Personnel Education Falls Short of Adoption Rates

A significant challenge exists. Just 26,000 Pentagon employees have completed formal instruction on appropriate AI utilization. Upcoming educational programs have reached capacity, a Pentagon representative confirmed.

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Michael emphasized the importance of proper training. “It saves you a lot of time in the middle, but you have to review at the end to make sure there’s no hallucinations,” he said.

Bridging the divide between actual usage and completed training represents a priority as the Defense Department expands agent availability.

Military Exercise Planning Sees Dramatic Efficiency Gains

The technology has already demonstrated measurable impact in operational settings. Kenneth Harvey, who directs the Mission Training Complex at Fort Bragg, explained that developing a military exercise scenario accommodating up to 50,000 simulated troops previously required his nine-member team six months.

Leveraging the AI platform, a comparable exercise for US Southern Command reached completion within six weeks.

Harvey emphasized that “human eyes vetted every word” throughout the process.

This latest initiative represents a significant expansion of collaboration between Google and the Pentagon, a relationship that has experienced turbulence. In 2018, thousands of Google staff members protested the corporation’s participation in Project Maven, an AI-powered drone surveillance initiative. Google declined to continue that contract.

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The technology company subsequently revised its policies regarding military contracts. Michael characterized Google as a “trusted” and “supportive” partner.

The Pentagon has simultaneously broadened its artificial intelligence partnerships. Recent agreements with OpenAI and Elon Musk’s xAI enable operations on restricted networks — developments that coincided with deteriorating relations with Anthropic.

The Department of Defense designated Anthropic a supply-chain security concern last week following the company’s objections regarding potential AI applications. Anthropic has responded by filing legal action against the government challenging this classification.

Prior to this conflict, Anthropic maintained exclusive status as the sole AI vendor with access to the Pentagon’s classified cloud infrastructure.

GOOG was trading at $308.84, up 0.81% on the day at the time of writing.

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Canaan Boosts Bitcoin, Ether Treasury as Miners Sell BTC

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Canaan Boosts Bitcoin, Ether Treasury as Miners Sell BTC

Bitcoin mining company Canaan increased its digital asset holdings to record levels in February, signaling a long-term accumulation strategy despite challenging market conditions for miners.

In its February unaudited mining update issued Tuesday, Canaan said it produced 86 Bitcoin (BTC) during the month, bringing its total holdings to 1,793 BTC, a new record for the company.

Canaan’s Ether (ETH) holdings also reached a record high of 3,952 ETH, with the combined value of its digital asset treasury totaling roughly $128 million at current prices.

The company’s Nasdaq-traded shares (CAN) were up 1% in late Tuesday morning trading. Sector-tracking exchange-traded fund CoinShares Bitcoin Mining ETF (WMGI) was up 2.5%.

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Chairman and CEO Nangeng Zhang said the company remains focused on a long-term strategy of building its digital asset reserves.

“We maintain a long-term perspective on building and managing our digital asset treasury,” Zhang said.

Canaan’s Bitcoin holdings over time. Source: BitcoinTreasuries.NET

Canaan also expanded its mining operations, with its installed hashrate reaching 14.75 exahashes per second (EH/s).

The update follows Canaan’s recent expansion in the United States. In February, the company acquired a 49% stake in three Bitcoin mining projects in West Texas for $39.75 million, a move aimed at increasing its North American mining capacity.

The Texas facilities are expected to boost Canaan’s presence in one of the world’s largest Bitcoin mining regions.

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Related: Bitcoin miner production data reveals scale of US winter storm disruption

Miners ramp up Bitcoin sales as margins tighten

Canaan’s update comes as Bitcoin miners increasingly sell portions of their reserves amid worsening market conditions.

The trend has accelerated since October, when the biggest crypto by market capitalization peaked around $126,000 before falling by more than half to the low-$60,000 range, squeezing mining profitability.

The downturn has compounded what some analysts describe as the harshest margin environment the sector has faced, with rising operational costs and lower BTC prices weighing on miners’ balance sheets.

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Data from TheEnergyMag’s Miners Weekly shows that publicly traded mining companies have sold more than 15,000 BTC since October. The total includes several large transactions, such as Cango’s February sale of 4,451 BTC and Core Scientific’s plan to sell up to 2,500 BTC this quarter.

Bitcoin miners have offloaded a growing share of their BTC holdings since October. Source: TheEnergyMag

The shift marks a departure from the trend seen earlier in 2025, when many miners adopted a de facto treasury strategy, choosing to retain a larger share of the Bitcoin they mined rather than selling it immediately.

Related: Bitcoin mining’s 2026 reckoning: AI pivots, margin pressure and a fight to survive