> ## Content Index
> Fetch the complete content index at: https://is.bbhmm.net/llms.txt
> Use this file to discover other available public pages before exploring further.

# State of Cardano Q1 2025
- URL: https://is.bbhmm.net/state-of-cardano-q1-2025/
- Published: 2025-04-04T07:00:00.000Z
- Updated: 2026-07-16T16:44:30.000Z
- Description: The report is overall positive, but points out a negative trend in Cardano's ROI. Cardano Incentives are getting lower for everyone, not just SPOs.
- Author: stef
- Tags: 03. Background

The State of Cardano Q1 2025 report by Messari was released some months after the formation of our Working Group. The report highlights the resilience and general good health of the Cardano Ecosystem, despite the broader market and geopolitical uncertainty affecting other digital assets.

Nonetheless, Messari's Q1 2025 report also points out a negative trend in Cardano's ROI, exacerbated when adjusted for inflation. This means that Cardano Incentives are trending down, for everyone, not just SPOs. 

> Messari's report further strengthens our motivations to pursue changes to Cardano's RSS.

Find the complete Messari Report [here](https://messari.io/report/state-of-cardano-q1-2025).