Well-known crypto expert and investor Lark Davis has taken to Twitter to share that he is not going to buy XRP although he does hope that the token’s issuer, Ripple, wins its case against the Securities and Exchange Commissions (SEC).
Ripple has been in a long legal debacle with the regulatory body since December 2020, and since then, the XRP token has seen some impressive increases despite it all.
And the token even has a fanbase, called XRP Army. But clearly, Davis is not one of those. The analyst obviously doesn’t see himself investing in XRP. He did not offer much explanation as to why either.
But that’s not the only crypto-token Davis has criticized recently. The investor also took a jab at Cardano (ADA), saying that Cardano’s continued presence in the top 10 cryptocurrencies makes no sense since the cryptocurrency has almost no decentralized finance infrastructure, very few retail dApps that are operational, and an average of just 70,000 transactions per day.
In his words:
“Cardano impresses me. It has remained in the top 10 forever, in spite of almost no DeFi, few working retail dApps, and just 70,000 transactions per day on average. And yet, ADA holders continue to steadfastly believe in the potential of Cardano and the vision of the chain.”
He went on to say that despite this, ADA holders still have unwavering faith in the possibilities offered by Cardano and the direction the network is headed towards. Davis has also disclosed the cryptocurrencies that make up his greatest holdings at the moment, which are Bitcoin and Ethereum, respectively.