Charles Hoskinson, the founder of Cardano (ADA), has publicly addressed rumors that he sold significant amounts of ADA. These allegations emerged on social media, claiming that Hoskinson had dumped ADA at a price of $3 and had not repurchased it when the price fell to $0.3. In response, he firmly stated, “I didn”t dump the coin. No matter how many lies you bots tell, that won”t change.”
The price of ADA reached its all-time high of $3.10 four years ago, but the token has faced challenges in gaining traction, particularly in the decentralized finance (DeFi) sector. Despite the ongoing discussions about his alleged actions, Hoskinson has focused his efforts on the development of Midnight (NIGHT), a layer-2 network associated with Cardano. He has clarified that he will not abandon ADA to concentrate solely on Midnight, dispelling further rumors.
In the current landscape, many analysts believe that Cardano has yet to achieve its full potential, especially within the DeFi space. As the cryptocurrency market evolves, such developments and statements from key figures like Hoskinson carry significant weight for the community and investors alike.
As developments unfold, stakeholders in the cryptocurrency ecosystem will be keenly observing both Hoskinson”s projects and the performance of Cardano.
