The cryptocurrency market remains depressed following the widespread impact of the FTX exchange liquidity crunch. However, crypto projects such as Cardano (ADA) are still recording increased network activity, with investors seeming unfazed by the market conditions.
Indeed, Cardano has recorded a spike in the number of wallets adding 33,097 in a week. As of November 13, the figure stood at 3,671,522, while on November 7, the decentralized finance (DeFi) platform had 3,638,425 wallets, according to Cardano Blockchain Insights data.
ADA wallets charts. Source: Cardano Blockchain Insights
The increased interest in Cardano comes as the general cryptocurrency market continues to trade in the red zone after the sector took a hit following the FTX crisis. Notably, the high-level crisis has appeared to slow down a possible price bottom.
Interestingly, as reported by Finbold, Cardano founder Charles Hoskison suggested that the FTX saga might be the last crisis to hit the cryptocurrency m
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