Deep Dive on the Trump Reserve Token Whose Blockchain Ignores TVL

Cardano’s ADA token has been experiencing a surge in trading volumes, reaching an average of $720 million in February and over $1.4 billion in March. This increase in interest can be attributed to a social media post by U.S. President Donald Trump, who mentioned ADA as one of the tokens to be included in the nation’s strategic crypto reserve.

Despite the recent mainstream attention, Cardano has been quietly establishing itself as a significant player in the crypto space since its launch in 2017. With a market cap of $25.6 billion, Cardano’s blockchain boasts more than 5 million unique wallets and 1.3 million delegators. Thousands of new wallets are created daily, indicating a growing user base.

The Cardano blockchain also has $329 million in total value locked (TVL), but Cardano Foundation CEO Frederik Gregaard believes that non-value transactions are equally important. These non-financial activities, such as minting decentralized IDs and recording documents, contribute to the blockchain’s overall activity.

One notable partnership for Cardano is with Veritree, where the community donated over 1 million ADA tokens to plant mangrove trees in Kenya. Each donation is verified and tracked on the blockchain, showcasing the platform’s real-world impact. Additionally, Cardano Foundation announced a collaboration with SERPRO, Brazil’s largest state-owned IT company, to promote blockchain adoption in South America.

While Cardano has a thriving DeFi ecosystem, including decentralized exchanges like Minswap and lending protocols like Liqwid and Lenfi, Gregaard emphasizes the importance of non-financial transactions. This aligns with the Cardano Foundation’s non-profit ethos and distinguishes it from other blockchain networks focused on total value locked (TVL) and hype-driven movements like memecoins and NFTs.

Managing Cardano’s ecosystem involves collaboration between three main entities: the Cardano Foundation, Charles Hoskinson’s IOG, and Emurgo. While commercial businesses, IOG and Emurgo work closely with the foundation to ensure the platform’s success. Despite occasional friction, Gregaard highlights the importance of maintaining a balanced approach to decision-making and governance.

Overall, Cardano’s focus on real-world use cases, sustainable growth, and community engagement sets it apart in the competitive crypto landscape. As the platform continues to evolve and expand its ecosystem, it remains committed to driving positive change and innovation in the blockchain industry. The world is changing rapidly, and with it, so is the way we communicate. Technology has played a significant role in shaping the way we interact with one another, and social media has become a central part of our daily lives. From staying connected with friends and family to networking with professionals in our industry, social media has opened up a whole new world of possibilities for communication.

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