Is Cardano the “one pillar of light” amid FTX mayhem?

Lavina Daryanani
Source: Zipmex

Transactions settled on Cardano continue to hover below the 100k mark. Roughly a fortnight back, i.e. on November 2, a total of 91,751 transactions took place on the blockchain. By November 11, the number was hovering down in the 60k bracket. Nonetheless, a moderate recovery has been noted since then, with the metric reading standing at the brink of 80k at press time.

Of late, whale interest pertaining to Cardano’s native ADA token has been on the incline. As highlighted in a recent article, top BSC whales were seen scooping up the said token. Alongside, the number of ADA wallets has also been rising, bringing to light the increased adoption.

Cardano Foundation CEO ‘excited’ for 2023

The collapse of top crypto exchange FTX managed to shock waves throughout the space. Even though confidence is currently hovering around lows for many, the Cardano team is optimistic about its platform’s future.

Frederik Gregaard—CEO of the Cardano Foundation—recently appeared in an interview and spoke about how he expected Cardano to mature and branch out and outside its community. Expressing excitement over the network’s plans for the upcoming year, Gregaard said,

“There are so many things I’m excited about. There are certain integrations that I’m not able to talk about right now, but I’m hoping they will land because they will really move the needle, both short-term and long-term. But I think what I’m mainly excited about is to see Cardano maturing outside the people who know and love Cardano today.”

Further elaborating on the “one pillar of light,” the Cardano Foundation executive said,

What we see around us is mayhem, right? We see a lot of things breaking down and so on and there’s one pillar of light in all of that and that’s called Cardano. It keeps running, it keeps improving, it keeps implementing, it keeps adding value in local communities around the world, and we keep exploring new ways of building blockchain for good.