Market

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

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

30 minutes ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

54 minutes ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

1 hour ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

1 hour ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

2 hours ago

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

5 hours ago

This website uses cookies.