Cardano [ADA] set for further developments despite the bear ruling over the cryptocurrency market

Cardano [ADA] has had a tumultuous week with prices hikes and bearish falls painting a very unstable picture. The cryptocurrency has had one silver lining with Cardano’s market cap just $60 million short of that of seventh-placed Tether [USDT].

Cardano also received another boost when it was announced on 23rd October that it was going to be supported on the Trezor hardware wallet. Trezor also stated that it was going to add support for XRP, Monero [XMR] and Stellar Lumens [XLM].

Cardano was also in the news recently when Charles Hoskinson, the Founder, and CEO of IOHK spoke on the issue of the industry being more capital-centric than developmental centric. He specifically spoke about how EOS, despite raising more capital than Cardano has been left in the dust when it came to the developments and updates. He stated:

“It’s kind of funny that the number two cryptocurrency raised 18 million to get where it’s at and the number one cryptocurrency raised nothing. So if you think about that, there is strong evidence in the space – the amount of money you raise doesn’t really have a lot to do with your ability to succeed.”

The computer scientist had also informed users of the future of the Cardano project, namely the Rust project. He even stated that the Cardano 1.3.1 is going to be released soon with version 1.4 much ahead on schedule. Hoskinson further added:

We’ve started hiring more people and it’s actually the first time we’re having multiple companies in the ecosystem contributing to that, so it looks like Emurgo is gonna provide Rust developers in addition to IOHK for Rust Cardano.