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This is how Cardano avoided FTX tragedy, as ADA becomes least affected top crypto<\/p>\n<\/div>\n<\/div>\n
Almost no top altcoin was able to avoid yesterday’s events surrounding the collapse of major crypto exchange FTX, but some managed to get away with just a few\u00a0scratches. ADA, Cardano’s native blockchain token, lost less than 10% in value and was the least affected cryptocurrency of the top 10 by market capitalization.<\/p>\n
The reason ADA probably got away with little bloodshed during the crypto market bloodbath was the fact that the token was not listed on the spot market on FTX<\/a> in time. As recently as a week ago, FTX CEO Sam Bankman-Fried claimed that ADA would soon appear on the exchange, explaining its absence by the fact that Cardano is a “new” blockchain.<\/p>\n At the time, renowned crypto blogger Ben “BitBoy” Armstrong and Cardano founder<\/a>\u00a0Charles Hoskinson\u00a0were also discussing whether ADA’s listing on FTX would turn tragic in the context of a sell-off of blocked funds on Voyager, the crypto broker bought by the exchange.<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n The collapse of FTX turned into a double win for Cardano. First, it benefited alternatively from not being listed on the FTX spot market. The second was that Cardano’s direct competitor, Solana<\/a>, was kicked out of the market cap top, losing almost 40% in value on the back of FTX and affiliates’ direct participation in its equity.<\/p>\n<\/div>\n<\/a><\/p>\n
Cardano benefits from FTX crash<\/h2>\n