Cardano (ADA) is in a persistent slump price-wise. But founder Charles Hoskinson is taking aim at critics, pointing to Cardano’s plus points. Can this help ADA’s price curve bounce back?
Cardano (ADA) is currently trading at a level of $0.27, near a one-year low. Most recently, Cardano was even overtaken by Dogecoin (DOGE) in terms of market capitalization, far and away there seems to be no momentum in sight for ADA. Charles Hoskinson, the opinionated founder of Cardano, is taking shots at critics over the situation. Per X (formerly Twitter), Hoskinson shouts the slogan “Cardano is here to stay” and sees skeptics as opponents…,
It makes no difference how many times crypto media, maximalists or supporters of venture capital-based cryptocurrencies declare that Cardano is “dead, irrelevant or failing,” Hoskinson writes. He rather shares a list of achievements with Cardano, ranging from high decentralization to network stability. In doing so, he alludes to problems at Solana (SOL), for example, which on current trends is poised to surpass ADA in market capitalization soon as well.
Now it is quite understandable that Hoskinson praises and defends his Cardano project. But why he always has to take on competitors in the process – as he has in the past – is his own unique style. Hoskinson’s suggestion at the end of last year that Solana should dock with Cardano as a sidechain could soon prove to be a boomerang.
Is Cardano founder Hoskinson buying the specialist portal Coindesk?
Hoskinson is also showing activity on another front. In January, it became known that the US specialist portal Coindesk could be up for sale, and Hoskinson signaled interest. Now he hints at X that with restructuring and job cuts at Coindesk, the conditions for a takeover could be in place. He compares the situation at Coindesk with that at Twitter before the entry of multi-billionaire Elon Musk. Anyone who knows Hoskinson knows that if he were to own Coindesk in the future, he would hardly refrain from interfering in editorial matters.
Conclusion: Cardano founder Hoskinson enjoys limelight
Many investors wish Hoskinson would focus his time and energy on advancing ADA’s ecosystem rather than inciting feuds on social media and promoting private side projects. But the 35-year-old apparently can’t help but use his Cardano-given reach power on topics of all kinds and without being asked. Hoskinson has long since stopped doing ADA’s price curve any favors.