Expert Refutes ‘Cardano Is Dead’ Claims, Says ADA Could Still Replicate XRP Rally

Cardano’s position within the crypto market is facing renewed scrutiny after commentary from analyst Lark Davis reignited debate around the network’s real-world valuation. While the cryptocurrency ranks among the top ten by market value, Davis argued that Cardano’s current fundamentals show limited activity across several on-chain indicators. His remarks come as ADA trades at $0.564629 at the time of writing. 

Cardano Is Not Dead

In a recent video, Davis addressed the growing skepticism that Cardano is dead. One user also raised this sentiment recently during Davis’ latest livestream, asking whether the crypto project was dead.

In response, the crypto commentator stated that Cardano is “not dead,” but maintained that market participants may be framing its value incorrectly. He explained that the perception of Cardano being “dead” largely stems from on-chain data showing low daily revenue, limited active users, and minimal decentralized exchange (DEX) trading activity. Davis also pointed to the network’s small stablecoin presence and slow pace of new development as factors reinforcing this narrative.

Is Cardano $ADA dead?

Here's my take. ⤵️ pic.twitter.com/oGnVuQuy9N

— Lark Davis (@TheCryptoLark) November 12, 2025

According to his assessment, these indicators show that the blockchain “is not doing a lot” at the moment, despite its visibility in the wider market. 

Market Recognition Remains a Key Factor

Ignoring these fundamentals, Davis stated that Cardano continues to benefit from widespread name recognition accumulated over several market cycles. He referenced the project’s long-standing presence on major U.S. exchanges and familiarity among retail participants who entered the crypto market over the past eight years.

He drew a comparison to XRP’s rally late last year, noting that investor entrants into well-known assets can occur even when underlying metrics appear subdued. Davis stated that brand familiarity alone has historically influenced purchasing patterns across the sector. 

Interestingly, he recalled how XRP staged a major rebound last year as early investors reentered the market, pushing the token from around $0.50 to $3.65 within a few months. Citing Cardano’s strong brand recognition, Davis suggested that ADA could see a similar surge if long-time investors return. However, he did not specify how high Cardano’s price might climb under such conditions.

Meanwhile, Davis used the discussion to underscore a broader observation about crypto asset valuations. He said the market sometimes assigns high values to tokens regardless of conventional business fundamentals, citing XRP’s market capitalization in relation to its functional activity as an example.