Charles Hoskinson Addresses the Growing FUD Surrounding Cardano (ADA)
DailyCoin
Published Nov 29, 2021 10:06AM ET
Updated Nov 29, 2021 10:30AM ET
Charles Hoskinson Addresses the Growing FUD Surrounding Cardano (ADA)
The fear, uncertainty, and doubt (FUD) about Cardano (ADA) have been growing steadily as the price of ADA declines non-stop. In the last 90 days, ADA has lost more than 50% of its value, while other Altcoins have gained.
Cardano (ADA) was rocked once again by the news of its delisting on Israeli cryptocurrency exchange, eToro. The news led to a decline in the price of ADA, as the FUD surrounding the asset increased even further.
The declining price of ADA has made Cardano followers believe in the need for Cardano 2 in order to ignite a price resurgence. As a result of the increasing FUD surrounding ADA, the founder of Cardano, Charles Hoskinson, has been forced to speak out.
Cardano’s Future-Proof Design is Enough
According to Charles Hoskinson, the current future-proof design of Cardano is enough. He believes that Cardano will justify itself and clear all FUD when ADA regains its prestigious strength to spike with a new price outlook.
On the Flipside
- Despite the rise in conceived FUD around ADA, the network activity of Cardano has still been increasing, with Cardano increasing its block size by 12.5%
And they are terrified because there doesn't need to be some magical Cardano 2 to survive. It's a future proof design and we are systematically building towards it together with the strongest and most engaged community brick by brick https://t.co/JDOKhAwrZA— Charles Hoskinson (@IOHK_Charles) November 28, 2021
ADA is currently trading at $1.59 at the time of writing, 50% less than what it was valued at on September 2nd. Some factions in the Cardano community believe that the FUD around Cardano is being highly publicized due to its nature as an Ethereum competitor.
Why You Should Care
The price of Cardano (ADA) has been under greater scrutiny since the launch of Alonzo. While it may be underperforming, ADA could see a price boost when dApps bring more long anticipated utility to the network.
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