‘Cardano Isn’t Dying’: Charles Hoskinson Defends Project Amid ADA Price Criticism
11 Outubro 2024 - 12:30AM
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Cardano founder Charles Hoskinson took X to defend the project from
its detractors, arguing that the network has continued to grow and
thrive despite the criticism. As ADA’s price falls 2.9%, some
analysts warn of the next key level to watch out for. Related
Reading: Worldcoin Drops 6% Amid Alameda Research 1.5 Million Token
Sale, Will WLD Price Hold? Charles Hoskinson Defends Cardano On
Thursday, Charles Hoskinson addressed the adverse response towards
Cardano in an X post. Hoskinson noted 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. Hoskinson
believes that Cardano’s collaborative efforts and the transparency
of the network is what sets it apart from the rest of the crypto
space. “It’s why we are loathed by a lot of others. Their backroom
deals and dirty tricks can’t be hidden because there is no one to
ask to do it under the table,” he added. In the post, the project’s
founder also underscored Cardano’s “passion” for integrity and
long-term vision for growth and progress: 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, concurring 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
predicted that the cryptocurrency will “easily” reclaim the $1 mark
before year’s end. To Gambardello, the exponential surge “could
happen fast” and leave many “flabbergasted.” Additionally, he
stated that after the 200% surge, ADA’s potential targets of $5 and
$10 would “look more realistic.” Related Reading: Experts Discuss
What Made Solana Memecoins The Cycle’s Top Narrative Conversely,
crypto analyst Sebastian warned about a key level to watch for
following ADA’s recent performance. Earlier this week, the analyst
highlighted that ADA showed signs of a breakout after retesting the
trendline it had recently broken above $0.35. 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. Featured Image from Unsplash.com,
Chart from TradingView.com
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