Charles Hoskinson Defends Cardano
On Thursday, Charles Hoskinson addressed the adverse response towards Cardano in an X post. Hoskinson that the crypto community’s sentiment about the project has lately been more negative than usual.However, he argued that Twitter’s sentiment change isn’t a reflection of the project failing “but rather the desired result of Voltaire.” Cardano’s “Voltaire” era is set to turn the network into “the most advanced blockchain governance system,” focusing on decentralized governance and its future sustainability.
Short-term thinking, market manipulation, and companies seeking a handout have no role or place here. That’s the difference that makes a difference.
Lastly, Hoskinson remarked that the project is not dying but “thriving and growing.” He that ADA is one of the last cryptocurrencies still wanting to be a real crypto instead of “the patron of Blackrock and Wall Street for number go up preferences.”
ADA Could See A 10% Drop Soon
The crypto community reacted to Hoskinson’s message, with many arguing that, regardless of the developments, the Network’s “lack of volume” and “limited” ecosystem growth remains a problem for its community. Meanwhile, part of ADA’s community agreed with Hoskinson, that “it is the only chain that has truly built what I can only see as the groundwork to deliver on the promise of crypto.” Despite the ongoing criticism, some market watchers remain bullish about ADA’s future price action. Crypto analyst Dan Gambardello recently that the cryptocurrency will “easily” reclaim the $1 mark before year’s end.
However, the cryptocurrency’s price dropped 2.9% in the last 24 hours, falling below the $0.34 mark. The analyst signaled that ADA must hold the current levels as failing to bounce from the $0.335 level could send the token to a retest of the $0.30 support level.
As of this writing, ADA is trading at $0.337, a 1.95% and 2% decline in the weekly and monthly timeframes.
