A major investor in this ADA ecosystem believes that some Cardano news has gone unnoticed; This development could increase optimism online. Through the social media platform
Is positive Cardano news going unnoticed?
The investor pseudonym shared some of these Cardano news that go unnoticed, including the launch of several projects that could add more users to the network. These projects include OptionFlow, a trading platform that offers access to decentralized derivatives such as bonds, options and others.
The platform recently launched its testnet and hinted at a “Phase 2” launch in the coming months. The ADA whale claims that Cardano will “shine” by offering derivative products. The open interest (OI) for bitcoin futures contracts on Deribit alone amounts to $300 million, which could provide an opportunity for a decentralized platform to capture some of the market.
The decentralized finance (DeFi) sector has seen impressive growth since 2020, as the total value locked in the different protocols exceeded $150 billion at its peak. However, many believe that the offering of options, futures and other derivatives has failed to achieve widespread adoption.
In that sense, the ADA whale said:
In addition to bonds, derivatives are another area where Cardano DeFi will shine. I haven’t seen this flexibility anywhere else: issuing call or put options for a combination of token x expiration x exercise, then directly to the secondary market.
Additionally, the ADA whale mentioned Dex Hunter, Genius Yield, Orcfax Oracle, Derp Birds, Linkage Finance and others. These projects are working to provide the Cardano ecosystem with ways for users to exchange non-fungible tokens (NFTs) and derivatives, provide liquidity, and introduce new concepts such as multiple staking.
Regarding Dex Hunter, the investor called it “community talent”, a classification that may extend to a large part of the Cardano ecosystem as the blockchain achieves complete decentralization. ADA Whale believes that, unlike ethereum, Venture Capital firms do not “control” the Cardano ecosystem.
The whale said about Dex Hunter and Cardano’s potential to dominate the DeFi space:
The people who created this value-added dapp, as well as the community that benefits, thrive together, and you get a dynamic similar to how ethereum became so dominant. We came together and became an established force.
Development activity on Cardano has increased since the implementation of smart contract capabilities with Hard For Combinator “Alonzo”. Like our sister website NewsBTC reportedThis update and the Cardano community initiative caused an increase in development activity.
Throughout 2023, this blockchain has been one of the most active in this metric, with over 1000 Cardano-based projects and 144 launched.
In the long term, ADA price is likely to benefit; On short timeframes, the token recorded a 5% gain over the past week.
Cover image from Unsplash, chart from Tradingview.
