Cardano (ADA) may soon be listed on Crypto Exchange FTX, according to CEO Sam Bankman-Fried
Crypto exchange FTX founder Sam Bankman-Fried says he is willing to bet that smart contract platform Cardano (ADA) will soon be listed on his platform.
In response to a Twitter user who claimed that FTX avoids noting the ADA, Bankman-Fried pointed out that ADA perpetual futures contracts are already available on the platform.
“Definitely not the case!
we have [ADA-Perp] listed internationally; adding spot ADA is also on our roadmap”
Bankman-Fried also hinted that ADA’s absence from the exchange is more logistical than anything, saying that FTX is still looking to secure sufficient validators for its Ethereum (ETH) rival blockchain.
“Heh no, it’s not on purpose – tokens that are on blockchains we already support are easier, so ERC20/etc. Tokens come almost automatically, but yes, we still need to make sure we have good Cardano validator parsing for deposits/withdrawals .”
The FTX manager black to all doubters with a friendly effort, and gave a 3 month timeline, suggesting that ADA could be listed on the exchange by the end of January.
“Hm if you think I’m lying, would you take a 1:1 bet on whether FTX will show the ADA location within the next 3 months? Can you choose size?”
Recently, crypto analytics firm Sentiment said ADA is significantly undervalued, citing the MVRV-Z score, which compares an asset’s market value to its realized value. According to the firm, ADA’s MVRV Z-score is at a level not seen since early 2019, just before its Ethereum competitor doubled in price.
“Cardano is now sitting at its lowest relative position compared to its realized value since January 2019. This is a sign of undervaluation based on average trader losses. ADA’s price doubled in the following three months the last time the MVRV Z-score reached this level.”
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