Charles Hoskinson, CEO of IOHK, has reiterated that Cardano has no secrets in response to opponents who term ADA an “obfuscated scam.” Concerns about stablecoins and cryptocurrencies after the “death spiral” of the UST led to the collapse of the Terra ecosystem.
Key elements of Cardano’s ecosystem growth
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 regarding Cardano’s inadequate ecosystem have lately re-emerged. While ADA is valued at more than $19.41 billion, its Defi ecosystem has a total value locked (TVL) of over $137 million (without staking governance assets). Meanwhile, critics said that Terra’s ecosystem at its height had a TVL of more than $30 billion.
Charles Hoskinson reveals the most critical factors in the expansion of Cardano’s ecosystem: “Years of progress, building, and a massive community.”
Currently, 937 Cardano-based projects are being developed, up from 925 earlier. Cardano has recently seen the introduction of 84 projects, while the number of NFT projects has risen to 5,549. Github connections totalled 2,609 in the last week, while Cardano native tokens increased to 4.7 million, as recently reported by IOHK.
Vasil hard fork remains on schedule.
Charles Hoskinson has announced that the Vasil Hard Fork remains on schedule. Cardano and its smart contract platform Plutus are planning to have substantial upgrades in the Vasil Hard Fork on June 29.
🐳 #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
According to IOHK, the testnet may go online by the end of May. The Vasil update will feature four CIPs: CIP-31 (Reference Inputs), CIP-32 (Inline Datums), CIP-33 (Reference Scripts), and CIP-40 (Collateral Outputs).
Santiment, an on-chain analytics company, observed a frenzy of whale transactions for Cardano ADA over the weekend. Cardano whales engaged in a flurry of transactions as prices fell below $0.40. These increases have often signalled price direction shifts for ADA.
ADA is trading 4% higher at $0.56.