- The past week has been busy for Cardano, despite ADA’s current dip in price.
- The Cardano community is continuing with developments and events.
- The majority of ADA holders are currently faced with losses.
Despite a market-wide downturn for cryptocurrencies over the past few days, the Cardano (ADA) ecosystem powers on.
The Cardano Foundation team has shared an overview of the news, events, and progress across the ecosystem as of last week. This week, the price of Cardano’s native cryptocurrency ADA has seen a rocky road, with virtually all holders faced with losses.
Amidst a tumultuous time for the price of ADA, the Cardano community has continued to innovate, launching a new series of webinars that kicked off on women’s day and hosting a CIP-1698 workshop, among other developments.
Bear Markets are for Building
In contrast to the downward trajectory in the price of ADA, things for the broader ecosystem are looking up.
On March 8th, 2023, the Cardano Foundation launched a new webinar series titled “Let’s Talk Cardano” to cover topics across the ecosystem. In celebration of women’s day, the first webinar was hosted by a panel of leading females in the community who have played an “essential role in driving innovation” for Cardano.
Furthermore, Input Output Global (IOG), Cardano Foundation, and Emurgo recently convened in Colorado for a workshop to discuss the latest developments on Cardano’s on-chain governance and CIP-1694. Community members also participated in the meeting as conversations around CIP-1694 continued to gain momentum.
More developments decorating the Cardano ecosystem include new NFT-related developments from Cardano-based NFT marketplace JPG Store and crypto lending platform Aada Finance (AADA) doubling its Total Value Locked (TVL) on March 7th.
To the dismay of holders, the price of ADA is not aligning with the lift-offs happening across the ecosystem. At the time of writing, ADA is trading at $0.30, recording a 20.82% decrease over the past thirty days.
One-month Price Chart for Cardano. Source: Messari
The total number of ADA holders in profit has increased somewhat from the 0% recorded early on March 10th, with 9% of ADA holders in profit at the time of writing, according to data from IntoTheBlock.
On the Flipside
- Cardano (ADA) still claims the #7 rank by market capitalization.
- Most of the top ten cryptocurrencies are currently on downward trajectories, failing to break out of the current bearish trend of the market.
Why You Should Care
The Cardano community is among the most active in the crypto sphere. The innovation exhibited by the community attests to the long-term vision of the network beyond the price of ADA.
Read more about recent developments in the Cardano ecosystem:
Cardano’s Nucast.io to Usher in the Next-Gen of Film
Read more about the inner workings of Cardano:
What Is Cardano, and How Does It Work?