Cardano has been on the downside since ADA reached an all-time-high of $3.10 back in September 2021. As of writing, the 9th top crypto has dropped 5% in the last seven days. In comparison, major cryptocurrencies like Ethereum lost over 4.5%, and Bitcoin shed 2% in the same timeframe.

Cardano (ADA), the DeFi asset, is heading into the Christmas season and still listed among the top ten largest cryptocurrencies by market capitalization. This is the case despite recent price fluctuations. Cardano’s network is still expanding strongly even though it has been hit hard by the consequences of the FTX catastrophe.

Cardano (ADA) is trading at $0.3122, representing a change of -0.47% in the past day and -0.57% in the past week, per the latest data from CoinMarketCap. The smart contract token has oscillated between $0.30 and $0.32 since November 20.

Cardano’s (ADA) ecosystem continues to expand despite the uncertainty in the cryptocurrency market, which has been heavily impacted this year by the implosion of the Terraform Labs ecosystem and now by the crypto exchange collapse involving FTX.

Binance.US, an American subsidiary of the Binance exchange, now allows its users to trade Cardano (ADA) against USD Coin (USDC), according to a recent announcement. In addition, Cardano rival Solana (SOL) can also be traded against the second-biggest stablecoin. Binance.US has noted that the two cryptocurrencies aim to achieve "scalability, interoperability, and sustainability."

The <a href="https://finbold.com/category/cryptocurrency-news/">cryptocurrency market</a> may be swimming in a sea of red, but the work at Cardano (<a href="https://finbold.com/cryptocurrency/cardano/">ADA</a>) doesn’t seem to be slowing down, including on its new privacy-focused <a href="https://finbold.com/topic/blockchain/">blockchain</a>, <a href="https://midnight.iohk.io/" target="_blank">Midnight</a>, as the platform’s founder Charles Hoskinson recently detailed.

Despite the recent setbacks, the <a href="https://finbold.com/category/cryptocurrency-news/">cryptocurrency sector</a> continues to expand, led by the developments and innovations of major ecosystems such as the Cardano (<a href="https://finbold.com/cryptocurrency/cardano">ADA</a>) network, which has recently renewed its <a href="https://finbold.com/guide/stablecoins/">stablecoin</a> tests.

In a news related to <a href="https://coingape.com/glossary/cardano/">Cardano (ADA)</a>, its founding member EMURGO has recently announced the launch of a new social media network called the Cardano Spot with a goal to connect Cardano enthusiasts, fans and token holders all around the globe. Cardano Spot is an interactive platform that is user-generated and is specifically designed to facilitate the investment in, distribution of, consumption of, and monetization of Cardano content.

Cardano (ADA) has become one of the most bought assets by the top 2,000 whales on Binance Smart Chain in the past 24 hours, according to WhaleStats, a portal that tracks the activities of major crypto investors across various networks.

Cardano has emerged as the blockchain network with the most robust development activity in the last 30 days, according to data from Santiment.