Cardano founder Charles Hoskinson responded to investor criticism after $ADA’s price fell sharply. He said he had never promised that Cardano would outperform Bitcoin or that $ADA’s price would rise.
According to Decrypt, Hoskinson said during a YouTube Q&A session (AMA) that some investors expect him to predict a rise in $ADA’s price. He reaffirmed his belief in Cardano’s long-term potential, while stressing that this should not be taken as a definitive price prediction.
Hoskinson made the following statement about the matter:
Related News BREAKIN: A Sudden 50% Drop in an Altcoin Listed on Binance: What's Going On?“I never made such a promise. I said I would very much like it to happen, and for various reasons I believe Cardano is a better store of value than Bitcoin. I’m not promising a price increase or a shift in the balance. I’m just saying it’s absolutely possible.”
Hoskinson: I Kept My Promises to Cardano
Hoskinson also discussed Cardano’s development process, arguing that the project had completed its original roadmap. He said all the core components he had committed to building were in place and that the network could now be managed without him.
Hoskinson said Cardano’s achievement of its initial technical development and decentralized governance goals marked a significant success for the project. However, he argued that technical progress does not guarantee a rise in $ADA’s price.
Hoskinson’s remarks come as $ADA has fallen significantly from its previous peaks.
According to data reported in the news, $ADA was trading at approximately $0.17, more than 94% below its all-time high, reached in 2021. The cryptocurrency had also lost approximately 86% of its value compared with its peak in 2024.
*This is not investment advice.
