Trading volumes for Cardano's ADA token have surged recently, averaging about $720 million daily in February and over $1. 4 billion in March. This increase was largely driven by a social media mention from former U. S. President Donald Trump, who listed ADA as part of the nation's strategic crypto reserve. Despite this newfound mainstream attention, Cardano has been steadily building its presence since its launch in late 2017. The ADA token boasts a market cap of $25. 6 billion, and more importantly, the Cardano blockchain has recorded over 5 million unique wallets and 1. 3 million delegators, with thousands of new wallets created daily. It also holds $329 million in total value locked (TVL), although CEO Frederik Gregaard suggests this metric is overrated.

He emphasizes the importance of "non-value transactions"—activities such as minting decentralized IDs and tracking documents—which he believes should constitute half of all transactions on the blockchain. An example of Cardano's commitment to real-world applications is its partnership with Veritree, which enabled the donation of 1 million ADA tokens to plant mangrove trees in Kenya. Recently, the Cardano Foundation also teamed up with Brazil's state-owned IT firm SERPRO to enhance blockchain adoption in South America, where SERPRO manages 33 billion transactions for the federal government. In contrast to other platforms like Solana, which focus on TVL and temporary trends, Cardano prides itself on sustainable, real-world utility. Although its lending protocols see a TVL of over $116 million, Gregaard's aim is to maintain a balance, ensuring that no more than half of transactions are financialized, thus adhering to the foundation's non-profit mission. The governance of Cardano involves three main entities: the Cardano Foundation, Charles Hoskinson's Input Output Global (IOG), and Emurgo. This structure can lead to conflicts, as highlighted by community concerns regarding the relationship and decision-making processes among these organizations. While Gregaard acknowledges some tensions, he asserts that collaboration exists, with joint sponsorships at events. Ultimately, the Cardano Foundation serves as the public face of the blockchain, managing regulatory interactions and ensuring that the platform remains aligned with its foundational ethos.