Major cryptocurrency exchanges, such as Huobi, have added trading pairs for Cardano on their platforms in response to the SEC’s categorization.
The recent actions taken by the U.S. Securities and Exchange Commission (SEC) against leading cryptocurrency exchanges like Binance and Coinbase caused a significant drop in the prices of top cryptocurrencies, including Cardano (ADA).
However, the founder of Cardano believes that despite the market’s uncertainty, the ADA ecosystem continues to grow.
Cardano Growing Amid Uncertainty:
Cardano founder Charles Hoskinson shared data indicating the growth of ADA. Despite the noise in the crypto market, he emphasized the importance of focusing on the signals. The data shows that Cardano is gaining real adoption and flourishing as an ecosystem, even during challenging times for the industry.
Hoskinson compared ADA to Bitcoin and highlighted that ADA’s growth is occurring in a fully decentralized manner.
Following the SEC’s classification of Cardano and other cryptocurrencies, major exchanges like Huobi responded by introducing Cardano trading pairs. As a result, the price of ADA has experienced a decline of over 26% in the past 30 days. Currently, ADA is trading at an average price of $0.277.
According to the data, Cardano’s decentralized finance (DeFi) ecosystem is experiencing rapid growth and has the highest total value locked (TVL) among all ecosystems.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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