Cardano is experiencing increased on-chain activity
According to whalestatsCardano’s ADA is among the top 10 assets bought by 100 largest BSC whales in the last 24 hours.
Aside from this, Cardano is experiencing increased on-chain activity, with a 400% rise in new Cardano wallet addresses since the FTX crisis.
Cardano remains relatively untouched in the midst of the industry’s biggest crisis in years, the FTX collapse.
According to Cardano founder Charles Hoskinson, the damage FTX caused will cascade down, greatly affecting other crypto firms. He expressed his joy, however, that Cardano has not been mentioned at all.
Cardano-focused Twitter account ADA Whale praised Cardano’s stance in the current crisis: “The almost dogmatic focus on security, decentralization, science, fair distribution and doing everything on-chain is about as close as crypto gets to self-regulation.” The Cardano community is a very chatter-free zone, and we invite all other cool groups to join us.”
At the time of publication, Cardano was trading at $0.033, up 1.77% in the last 24 hours.
SundaeSwap reassures users
Cardano DEX SundaeSwap has reassured its users in light of recent developments in the blockchain financial landscape. It added that SundaeSwap as an entity remains unaffected and is well positioned for the future growth of DeFi on Cardano.
Alameda Research was a seed investor in SundaeSwap Labs dating back to September 2021, it stated in a tweet. The bankruptcy filing may result in Alameda’s interests being sold, but that will not at all affect the continued operation and growth of SundaeSwap Labs, it continued.
SundaeSwap disclosed its financial viability and further stated that Almeida has no control over “Labs” assets. As a US-based company, SundaeSwap Labs never had access to FTX and was, therefore, completely unaffected by the FTX and Alameda liquidity crisis.
