Currently, 937 projects are being built on Cardano, up from 925 previously
Charles Hoskinson, CEO of IOHK, has once again said that Cardano has no secrets while responding to critics calling ADA an “obfuscated scam”. Concerns about stablecoins and cryptocurrencies have been raised following the UST “death spiral” which saw the collapse of the Terra ecosystem.
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 that end, Charles Hoskinson reveals what could be considered the key elements contributing to the growth of the Cardano ecosystem: “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’s hard fork remains on schedule
Cardano founder Charles Hoskinson said the Vasil Hard Fork remains on track. Cardano and its smart contract platform, Plutus, are set to undergo significant upgrades in the Vasil Hard Fork scheduled 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.
Over the weekend, the on-chain analytics company Saniment reported a wave of trading whales for the eighth-largest cryptocurrency, Cardano ADA, stating, “Cardano whales showed a wave of trading yesterday as prices bottomed at $0.40, between 8 a.m. and 12:00 UTC. These spikes have very often indicated the direction of price changes for ADA, and we are watching whale activity closely.”
ADA trades up 4% at $0.56 at the time of writing.
