Cardano is undergoing an important stress test

The SEC has sued the Binance and Coinbase exchanges and designated many cryptocurrencies, including ADA, as securities. This caused panic in the market. The market value of ADA fell by 30%. The Cardano protocol and the DeFi ecosystem went through an important stress test. Cardano handled the high load of transactions well and there were no technical problems. The DeFi ecosystem worked as expected and we have not noticed any troubles. The algorithmic overcollateralized stablecoin DJED maintained its peg to the USD. The Cardano community, including IOG, has expressed opposition to the SEC’s claims. Reputable lawyers have expressed the opinion that the SEC’s claims are very weak. After the media armageddon, everything is back to normal. The number of new wallets and stakers is growing. DeFi has seen a dramatic drop in TVL, but at the time of writing, we see new ATH at 522M locked ADA coins. We dare say that in the eyes of many people, Cardano is now stronger than before and the technology will gain the trust of new users. We will show through several examples that the SEC has not been able to stop the growth of the Cardano ecosystem and that users continue to trust the project.

TLDR

Cardano frequently trends on social media, is among the top 10 in terms of most used networks, currently has the fourth highest DEX volume, and has reached a new ATH in the TVL. The number of new wallets is growing by an average of 2,800 per day and the number of stakers by 250 per day.

This article was prepared by Cardanians with support from Cexplorer.

Read the article: https://cexplorer.io/article/cardano-is-undergoing-an-important-stress-test

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