Charles Hoskinson, the founder of Cardano, recently took to Twitter to defend the cryptocurrency against claims questioning its institutional interest and the health of its DeFi sector.
Hoskinson emphasized the ecosystem’s significant growth and commitment to decentralization, urging people to focus on the signal amidst the noise.
Hoskinson’s response was prompted by a tweet from a Cardano proponent, Chris O, who highlighted claims made on a popular YouTube channel regarding Cardano’s lack of Total Value Locked (TVL) and institutional interest.
In a powerful rebuttal, Chris pointed out several institutional players already involved in the Cardano ecosystem, including Grayscale, Hong Kong Vectors Capital, Bitwise Investments, WisdomTree Europe, and 21Shares.
These players have expressed interest in Cardano or established products related to the cryptocurrency, demonstrating their confidence in its potential and validating its increasing adoption.
Crypto analyst Dan Gambardello also highlighted Cardano’s thriving DeFi sector, challenging the misconception that all altcoins perform poorly during bear markets.
He emphasized that some investors within Cardano are achieving significant gains and presented data showcasing the rapid growth and adoption of Cardano’s DeFi space.
The total value locked (TVL) within Cardano’s DeFi sector has grown by 148% from January to June, with successful projects such as IAG, VPhi, Indie, and Milk achieving remarkable gains ranging from 255% to 590% over the same period.
Hoskinson’s tweets were met with a positive response from the Cardano community, with many users praising him for his commitment to transparency and his willingness to address FUD head-on.
