Cardano (ADA), like many other leading cryptocurrencies, has experienced a recent decline in value due to the U.S. Securities and Exchange Commission’s (SEC) actions against Binance and Coinbase. Nevertheless, Charles Hoskinson, the creator of Cardano, asserts that the ADA ecosystem continues to expand amid market volatility.
Charles Hoskinson presented data supporting the rise of Cardano and emphasized the importance of paying attention to indicators in the chaotic crypto sector. Despite facing a challenging environment, Cardano’s ecosystem is gaining traction and maturing, as evidenced by the data.
“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 drew a parallel between ADA and Bitcoin, highlighting that development is taking place in a decentralized manner.
Following the SEC’s classification of Cardano and other cryptocurrencies as securities, major crypto exchanges like Huobi have introduced Cardano trading pairs. As a result, the value of ADA has declined by approximately 26% in the past 30 days.
Compiled by Coinbold