Crypto analyst Ben Armstrong, popularly known as ‘Bitboy Crypto’ has ignited controversy by declaring Cardano (ADA)and Polkadot (DOT), “dead to institutions.” His brash statement has drawn substantial backlash from the crypto community, with many members vehemently opposing his criticizing remarks.
Analyst Calls Cardano, Polkadot Dead
In an X (formerly Twitter) post on July 3, Armstrong declared that Cardano’s native token, ADA and Polkadot’s token, DOT were dead to institutions. The analyst implied that major institutional investors no longer consider ADA and DOT as viable or attractive crypto investment options.
This criticism could be attributed to both Cardano and Polkadot’s underperformance in the crypto market lately. Reports from CoinMarketCap have revealed that Cardano crashed by a whopping 23.6% over the past month, experiencing major declines in its price as market conditions turned bearish.
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