Showing 4 charts of projects where you don't need the token to use the product and calling that "an exploding ecosystem" is some new level of delusion my friend.
ESPECIALLY when you see they are all
$ADA pairs that are going up in value against the coin which is crashing in price. ( the tokens can sit flat in price and will still gain value against ADA )
The ecosystem is NOT growing.
This is NOT how you look at data to derive ecosystem growth.
You look at things like:
#1 - Developer commits.
#2 - Daily Active Addresses.
#3 - Transaction Counts.
#4 - TVL
#5 - Chain Revenue.
Note:
You want to see an uptrend in these metrics, or a "flatness" during a bearmarket.
And then, you do the same research on other blockchains to compare the growth differences to see how competitors are doing in comparison.
Do that, and see how dead
#Cardano actually is.
It's not FUD, it's pure data taken straight off a blockchain explorer and plotted on a chart.
You can check yourself, so go and do it, unless you're scared to be proven wrong by yourself.
And don't try to warp the data you're seeing into fitting your narrative either.
Dev commits = Developers building ecosystem, growing ecosystem = DAA growth = buy preassure
Daily Active Addresses = Chain adoption and liveliness, needs to be compared to competitor chains to see the delta between the two.(or more)
Transaction count = Chain liveliness and user activity = how useful is the chain for the users in reality.
TVL = Locked value the users are willing to have sit on chain etc, economic value growth
Chain Revenue = Tells you how much dollar value per day in is "burned" or "spent" by users which must be replaced by "buying preassure" as users need to buy more of the TX coin in order to continue to use the chain.
Hope that helps.
Pro analyst tip to round this off:
If you have thesis, your job as an analyst is to try to destroy your own thesis in order to make it stronger.
That means, look for weaknesses in your thesis, try to prove the weakness is there, and then change your thesis until it's impossible to destroy any part of it.
Hope to see you on the other side, thanks for reading and goodluck.
You can use our website (
cryptotalks.network) to check these metrics, we even have formulas derived from the single datapoint metrics to help you with more insight, and a chain comparison tool to help you speed up the process.
Or, use another good site like Glassnode, artemis, santiment, defillama or any of the other ones.
Thanks for your time.
(Below is an image of our onchain tool spreadsheet to give you an idea of why you need to look at these metrics)