Cardano's Struggles Spark a New DeFi Contender's Rise

ADA, the native token of Cardano, is currently in a challenging phase, with its price hovering near multi-month lows and its community split over its future direction. Charles Hoskinson, the founder of Cardano, has proposed a radical pivot, suggesting that the blockchain should focus on becoming a core smart contract layer for Bitcoin DeFi. This has sparked debate, particularly from critics like Arthur Hayes of BitMEX, who question the project’s progress given unmet expectations. For example, Charles Hoskinson had predicted thousands of dApps by 2022, but as of 2025, only 59 dApps on Cardano have significant volume. The chain’s lack of volume, liquidity, and functional stablecoins further fuels skepticism [2].

On-chain metrics underscore Cardano’s struggles. According to CoinGlass, ADA’s open interest has lagged behind that of Solana and Ethereum, indicating limited institutional interest. DeFiLlama data shows that the total value locked on Cardano is around $380 million, far behind Solana’s $11 billion and Ethereum’s $97 billion. Daily DEX volume on Cardano is under $3 million, compared to over $1 billion on Solana. This stark contrast highlights the growing doubts about ADA’s relevance in the current crypto landscape [2].

Amid these challenges, XRP has shown stronger performance compared to ADA. In late 2024, XRP surged past $3.65, while ADA peaked at $1.3 but subsequently dropped to under $0.9. ChatGPT, using historical data, technical analysis, and market sentiment, predicts XRP could reach $5–$7 by the end of 2025 due to its institutional appeal and regulatory clarity post-Donald Trump’s election. In contrast, ADA, while having a higher percentage gain potential, faces the risk of falling behind more agile competitors like Solana and Ethereum. The AI model classifies XRP as the “safer play” in terms of value retention and adoption [3].

Meanwhile, Mutuum Finance (MUTM), an under-the-dollar DeFi project, has emerged as a potential breakout candidate. The token is currently in Stage 6 of its presale, trading at $0.035, with over $15.5 million raised and more than 16,150 holders. Analysts draw comparisons between MUTM and previous crypto success stories such as Ripple (XRP), Aave (AAVE), and Solana (SOL), which all began as small projects with real utility before becoming household names. With a roadmap that includes a dual lending market structure, a stablecoin with a mint-and-burn mechanism, and a Layer-2 integration, Mutuum Finance aims to replicate the success of these tokens [1].

Risk management and security measures are central to Mutuum Finance’s strategy. The project has implemented overcollateralization, liquidation protocols, and Chainlink oracles to mitigate risks. It has also completed a CertiK audit with a score of 95/100 and launched a $50,000 bug bounty program to further enhance security. Additionally, the buy-and-distribute model, where protocol fees are used to purchase and redistribute MUTM tokens, creates sustained demand and links token price to platform activity [1].

Looking ahead, early investors in MUTM stand to benefit significantly. At the current price of $0.035, investors entering before the price jumps to $0.04 could see a near 20% gain. If the token reaches $0.4 or $1.5–$2.00 in 2026, as some analysts predict, current investors could see gains of up to 4,000%. The project’s rapid adoption, combined with its strong community and security framework, positions MUTM as a potential 30x token. As the crypto market continues to evolve, projects like MUTM highlight the potential for exponential growth in the DeFi space [1].

Source: [1] Mutuum Finance (MUTM) Goes Viral, Could It Mirror Dogecoin’s Viral Trajectory (https://www.mitrade.com/insights/news/live-news/article-3-1107078-20250909) [2] Now That Cardano is Dead, What's The Next Big Thing? (ADA) (https://finance.yahoo.com/news/now-cardano-dead-next-big-034009482.html) [3] XRP or ADA? AI Predicts the Bigger Winner for 2025 Price Gains – Conclusion Will Surprise You (https://cryptopotato.com/xrp-or-ada-ai-predicts-the-bigger-winner-for-2025-price-gains-conclusion-will-surprise-you/)