Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Charles Hoskinson, IOHK CEO, has once again stated that Cardano has no secrets while responding to critics calling ADA an "obfuscated scam." Concerns about stablecoins and cryptocurrencies have been expressed in the aftermath of the UST "death spiral," which saw the Terra ecosystem collapse.
Welcome as much digging as possible. There isn't anything to hide. Just uears of progress, building, and a massive community. Keep making public defamatory statements before a vast audience that are admissible.
— Charles Hoskinson (@IOHK_Charles) May 16, 2022
Concerns about Cardano's ecosystem being a bit lacking have recently resurfaced. While ADA is valued at over $19.41 billion, its DeFi ecosystem has a total value locked (TVL) of over $137 million (without staking of governance assets), and critics argue that Terra's ecosystem had a TVL of over $30 billion at its peak.
To this end, Charles Hoskinson discloses what might be deemed the key elements contributing to Cardano's ecosystem growth: "Years of progress, building, and a massive community."
Currently, 937 projects are being built on Cardano, up from 925 previously. Eighty-four projects have recently launched on Cardano, while the number of NFT projects is up to 5,549. For the past week, Github connects totaled 2,609, while Cardano native tokens have risen to 4.7 million, per recent statistics shared by IOHK.
Vasil hard fork remains on schedule
Cardano founder Charles Hoskinson has stated that the Vasil Hard Fork remains on track. Cardano and its smart contract platform, Plutus, are set to undergo significant enhancements in the Vasil Hard Fork slated for June 29. To that end, IOHK hints that the testnet could go live by the end of May.
The upcoming Vasil update will introduce four different CIPs: CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts) and CIP-40 (Collateral Outputs), as shared by IOHK.
? #Cardano's whales showed a flurry of transactions yesterday as prices were bottoming out to $0.40, between 8am and 12pm UTC. These spikes have very commonly indicated price direction changes for $ADA, and we're monitoring further whale activity closely. https://t.co/KKnjXVH8no pic.twitter.com/aRTfClg8qQ
— Santiment (@santimentfeed) May 13, 2022
Over the weekend, on-chain analytics firm Santiment reported a flurry of whale transactions for the eighth largest cryptocurrency, Cardano ADA, stating, "Cardano's whales showed a flurry of transactions yesterday as prices were bottoming out to $0.40, between 8 am and 12 pm UTC. These spikes have very commonly indicated price direction changes for ADA, and we’re monitoring further whale activity closely."
ADA trades up 4% at $0.56 at the time of writing.
Alex Dovbnya
Vladislav Sopov
Dan Burgin