Crypto exchange FTX founder Sam Bankman-Fried says he’s willing to bet that smart contract platform Cardano (ADA) will be listed on his platform soon.
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In response to a Twitter user claiming FTX is avoiding listing 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 too is on our roadmap”
Bankman-Fried also hinted that ADA’s absence from the exchange is more logistical than anything else, saying that FTX is still looking to secure sufficient validators for the Ethereum (ETH) rival’s blockchain.
“Heh nah it’s not intentional–tokens that are on blockchains we already support are easier, so the ERC20/etc. tokens come almost automatically, but yeah we still have to make sure we have good Cardano validator parsing for deposits/withdrawals.”
The FTX CEO responded to any doubters with a friendly wager, and gave a timeline of 3 months, implying that ADA could be listed on the exchange by late January.
“Hm if you think I’m lying would you take a 1:1 bet on whether FTX lists ADA spot within the next 3 months? You can choose the size?”
Recently, crypto analytics firm Sentiment said ADA is significantly undervalued, citing its 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, right before the Ethereum competitor doubled in price.
“Cardano now sits 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 the following three months the last time its MVRV Z-Score hit this level.”
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