Cardano Is Down 90%, but This Value Suggests It's a Screaming Buy
In 2022, Cardano (CRYPTO: ADA) pulled off a huge technological upgrade of its blockchain, became the No. 1 blockchain in the world as measured by development activity, and became one of the top three players in the non-fungible token (NFT) space.
But nothing it did throughout the year seemed to matter. Cardano was down more than 80% for the year, and currently trades at a bargain-basement price of just $0.27, which is more than 90% off its all-time high of $3.10.
Of course, you could blame the broader market sell-off for Cardano's woes, but something else seems to be deterring investors from buying. To put it bluntly, many crypto investors think Cardano is a "ghost chain," where nothing happens. And the one number they typically point to in support of their argument is Total Value Locked, or TVL. So that has me convinced that TVL is the one metric you need to understand if you are thinking about buying Cardano.
Source Fool.com
