A new report claimed that less than 500 people are responsible for the trading of a trillion-dollar volume of $ADA coin. Cardano’s founder slammed the report for such claims.
Summary
- A website claimed a few hundred people artificially inflated the $ADA coin trade volume.
- Cardano lovers are optimistic about Coinbase-Derbit’s potential merger.
Cardano is a top-ranked crypto project, founded & launched by Charles Hoskinson in 2017. This crypto project is fully based on serious development works instead of hype. Also, the project team never took money from Venture Capitalists (VCs). The current trade price of this $ADA, the native token of the Cardano blockchain network, is $0.7 & this price level is -4.84% down over the last 7 days of the trading period.
On 21 March 2025, A website Fastcompany.com reported that less than 500 people are responsible for the $3.2 trillion trade volume of the $ADA coin. The report called this trillion-dollar worth of trading volume totally artificial.
According to the report, these few people generate $250 million profit in a year by the fake trade volume. The website published this report on behalf of a new study published on Cornell University’s preprint server arXiv.
Allegedly, this artificial trade volume helped the crypto project leaders to create fake hype around the $ADA coin, touting fake buy recommendations.
On 22 March 2025, Charles Hoskinson responded against this biased report and indirectly dragged his fingers toward Venture Capitalists (VCs).
According to Hoskinson, this network is getting mass adoption in the crypto & non-crypto space, changing the world.
In the past, Hoskinson claimed that the majority of the media websites, backed by VCs, spread false information around Cardano because they missed the opportunity to invest in Cardano’s ADA coin.
Cardano Futures Product Getting Trend
Last week, we reported that the Coinbase crypto exchange decided to launch the Cardano futures product; for the self-regulated launch, Coinbase filed an application with the CFTC body.
As per the latest reports, Coinbase has been in talks with Futures product trading platform Deribit. Insider reports confirmed that no official discussion happened between the parties but experts believe that the acquisition deal amount will be in between $4 billion to $5 billion
Cardano ($ADA) lovers are now highly optimistic about this deal & hoping that the Cardano futures launch on the Coinbase platform will unlock another level of the big door for new interest among the crypto investors.
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