Cardano's Price Rises 1.251% Amid Ecosystem Clarifications

Cardano's latest price was $0.7520, up 1.251% in the last 24 hours. The cryptocurrency's ecosystem has been the subject of recent discussions, particularly around the redemption voucher process. Prominent figures from the Cardano startup ecosystem, including Michael Yagi, CEO of Ikigai Technologies, and Daniel Friedman, Founder & CEO of zenGate Global, have stepped in to clarify misinformation surrounding the redemption process. They have defended the integrity of the process, highlighting the challenges faced by Cardano entrepreneurs due to persistent fear, uncertainty, and doubt (FUD).

Michael Yagi emphasized that while he wasn’t directly involved in the voucher process, those truly investigating the matter should have easily found the facts. According to Yagi, Input Output Global (IOG), the organization behind Cardano, went above and beyond to ensure all participants could access and complete their ADA claim process. He clarified that the ADA redemption voucher worked similarly to a digital gift card, which was one-time use and very much like a Robux gift card. These vouchers were never meant to provide access to a private key or wallet; they were simply codes used to redeem ADA tokens through the official wallet, Daedalus. This process was explained clearly at the time, and any assumptions show a major oversight due to false claims.

Yagi also voiced frustration over how misinformation damages not just reputations but the broader Cardano startup ecosystem. As a Cardano entrepreneur, he shared that building a company on this blockchain comes with additional responsibilities, including defending against FUD that is often beyond the founder’s control. He added that it’s damaging to founders like him and that people should realize FUD affects more than just personal beef. It impacts trust in their platforms, discourages new users, and distracts them from focusing on innovation. The ripple effect of this negativity slows down progress, especially for early-stage startups trying to gain traction in a competitive market.

Daniel Friedman, supporting Yagi’s perspective, directly called out those circulating an image suggesting that resale participants received private keys. He explained that the Japanese text in the image does not reference private keys at all. Instead, it mentions the issuance of an “ADA redemption code,” which is exactly what was needed to complete the ADA claim process. Friedman said that this continued misinterpretation shows confirmation bias and willful ignorance, not objective criticism. According to Friedman, people spreading these claims have repeatedly shifted their narratives, showing a lack of genuine intent to understand or report the facts.

Yagi and Friedman’s responses call for a more responsible conversation around Cardano-related developments. They believe focus should return to building and improving the ecosystem instead of engaging in baseless accusations. Yagi concluded that Cardano entrepreneurs are not just building products; they are also stuck explaining things outside their expertise just to protect the ecosystem’s credibility. That takes time away from innovation. His message serves as a reminder that Cardano entrepreneurs deserve support and fair treatment. In a space where FUD affects progress, clarity and truth are essential. With ongoing legal processes expected to shed more light soon, the community must avoid jumping to conclusions and instead focus on verifiable facts.

Cardano continues to expand its ecosystem, with steady growth across various metrics. The number of projects underway has risen to 1,999, with delegated wallets remaining steady at 1.33 million. On-chain activity also increased, with 109.37 million transactions completed and native assets reaching 10.79 million under 214,832 token policies. Smart contract deployment is strong, with 133,417 Plutus scripts and 6,640 Aiken scripts, representing a 0.49% increase in script activity over the previous week. Governance engagement has increased as well, with 1,305 DReps, 954 of which are active, up 1% from the previous figure. The 224 GitHub commits represent developer enthusiasm and indicate ongoing contributions across Cardano’s codebase.