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Sam Bankman-Fried, founder of crypto exchange FTX, says he is willing to bet smart contract platform Cardano (ADA) will soon be listed on his platform.
Addressing Twitter users claiming that FTX is avoiding listing ADA, Bankman-Fried said: It pointed out ADA perpetual futures contracts already available on the platform.
“Absolutely not!
we have [ADA-Perp] Listed internationally. The addition of Spot ADA is also on the roadmap.
Bankman-Fried also hinted that ADA’s absence from the exchange is more logistical than anything else, and said FTX is trying to ensure enough validators on Ethereum’s (ETH) rival blockchain.
It is not intentional. ERC20/etc. tokens are obtained almost automatically, as tokens on already supported blockchains are easier, but Cardano validation to properly parse deposits/withdrawals is required. We need to make sure we have data.”
CEO of FTX responded A friendly bet gave skeptics a three-month timeline, suggesting ADA could be listed on exchanges by late January.
“Hmm, if you think I’m lying, would you bet 1:1 on whether FTX will list an ADA spot in the next 3 months? Can I choose a size?”
Recently, crypto analytics firm Sentiment said ADA is vastly undervalued, citing the MVRV-Z score, which compares the market value of an asset with its realized value. According to the company, his MVRV Z-score for ADA is at a level he has not seen since early 2019, just before the price of his Ethereum competitor doubled.
Cardano is currently at its lowest relative value compared to realized value since January 2019. This is a sign of undervaluation based on average trader losses. The MVRV Z-score doubled over the next three months when it reached this level.”
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