According to ADA Whale, a Cardano community-focused Twitter account, Cardano remains one of the few cryptocurrencies to approach Bitcoin's distribution and inflation. He also thinks that ADA may become a rather scarce asset at some point in the future, as it may follow a BTC-like path.

“ADA whale” thinks it got Bitcoin’s dynamics right, given its fair distribution, price remaining low enough to allow many to buy, and fixed supply. Mysterious Bitcoin creator Satoshi Nakamoto believes scarcity can create value; therefore, the maximum Bitcoin supply is limited to 21 million BTC. The 19 millionth Bitcoin was mined in April and there are only two million BTC left to be mined in nearly 100 years.

Cardano, like Bitcoin, but unlike Ethereum, has a limited supply limit and only 45 billion ADA can be created during the cryptocurrency's existence. Currently, 33.82 billion ADA are in circulation, accounting for 75% of the maximum supply, and 34.27 billion ADA have been created so far, according to CoinMarketCap data. However, due to the ongoing negative market conditions, “ADA whale” believes that now is not the time to commit to ADA. “This is a bear market, so be prepared for possibly months of negative double-digit returns,” he advises.

According to the latest weekly report from Cardano's parent company IOHK, the closed Vasil testnet was launched to evaluate its functionality with a specific set of dApps and users. The Cardano team continues to work on consensus-specific improvements in anticipation of the Vasil Hard Fork Combinator (HFC) event in June.

IOHK provided a chart with network growth information. Currently, 986 projects are being built on Cardano, up from 943 previously. While a total of 88 projects have been launched in Cardano recently, the number of NFT projects has increased to 5,727.