The falling ADA price is just a “noise” signal – that’s really what Cardano is getting after Charles Hoskinson
According to Charles Hoskinson, Cardano’s fundamentals remain strong despite the decline in competitor ETH.
Charles Hoskinson – Founder of Cardano
In Question-and-answer session Recently, Cardano Founder and CEO of Input Output Hong Kong (IOHK) took a look at ADA metrics and says that each has grown significantly over the past 2 years.
“The good news is that any metric you can measure from January 1st, 2020 to December 31st, 2021 is really rare, from the amount of ADAs deployed, the number of active users, the involvement of catalysts, social signals to new accounts on Reddit, Telegram …, actual trading volume on Cardano, Cardano adoption and utility growth, decentralized app ecosystem The center shapes Cardano to venture capital. Every reading that you can measure has improved. ”
Hoskinson’s comments come as ADA price continues its downtrend since hitting an all-time high of $ 3.1 in early September. At the time of writing, ADA is trading at $ 1.27.
ADA 4-Hour Price Chart | Source: Tradingview
Cardano’s creator stressed that ADA’s price action is just a “noise” signal, as it believes the sixth largest cryptocurrency will continue to be a leader in the digital asset space.
“The noise makes you believe that none of this exists or that it is a fantasy because 10 years have passed and by then all network effects will have disappeared. But those who are really careful know that we are growing faster than most of the other networks in the ecosystem. We stayed number one for weeks in many cases, relying on commits on GitHub. The noise would make you believe that maybe it was just “Hello World” kept adding over and over. The reality is that if you actually look at it, it is real software. That’s the real code. ”
Hoskinson also shared what to expect for Cardano’s growth in the coming year.
“Very important updates are accelerated and more teams are involved. The decentralization is done from the ground up and next year we are going to see the formation of a very serious, industry leading open source project which I believe is the decentralization and governance of open source. if not hundreds of companies. ”
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews