Charles Hoskinson, the CEO of the technology engineering company Input-Output Global (IOG), took to Twitter to highlight the real decentralized adoption and growing ecosystem of Cardano even amid the harshest market conditions.
Lots of noise in crypto. Look for the signal. Cardano is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows. Like Bitcoin, this is being done in a completely decentralized way. https://t.co/t5T0QgDjdW
— Charles Hoskinson (@IOHK_Charles) June 28, 2023
Hoskinson quote-tweeted crypto entrepreneur Chris O’s tweet in which the latter refuted the negative Cardano (ADA) outlook by sharing a 148% TVL (total value locked) growth. The crypto content streamer observed that Cardano is the fastest-growing ecosystem by TVL.
Chris O asserted that institutions including digital asset manager Grayscale, Hong Kong VAC (Virtual Asset Consortium), BitWise Invest, and ETP (exchange-traded product) issuers WisdomTree and 21Shares Cardano ETP have Cardano’s native ADA token as an asset under management (AUM). Chris brought to the notice of the Cardano community via a Twitter thread the misleading observations of a YouTuber claiming that the ecosystem lacks TVL and the institutions are not interested in Cardano.
Chris O went on to quote-tweet crypto Twitter user who goes by the alias ADA Whale. Chris appreciated the tweet by ADA Whale that ranked Cardano 5th among crypto assets on Terminal, a financial data and analytics app.
In related news, the crypto exchange Huobi announced on June 26 the delisting of ADA, citing the Securities and Exchange Commission’s (SEC) ongoing ADA token investigation. Huobi has advised canceling any pending ADA orders users might have initiated in time.
On June 9, the financial services company Robinhood reportedly announced that it would be ending support for the ADA token on June 27 owing to the SEC’s lawsuit against crypto exchanges Binance and Coinbase. It is worthy to be noted that ADA is reportedly recognized as a commodity in Indonesia, as per the founder of Crypto Capital Venture founder Dan Gambardello. At press time, with an MCAP of $10 billion and a 24-hour trading volume of $223 million, ADA is trading at $0.2746 on CoinMarketCap (CMC).
