When the leading figure behind a public blockchain says outright that he no longer cares about its token price, investors should face reality. The era when a founder’s personal influence could prop up the market is well and truly over.
According to BlockTempo, Cardano founder Charles Hoskinson said bluntly during a recent livestream that the roadmap for the five eras of the public blockchain has been fully completed. Responding to community criticism over the token’s weak price, he pushed back, saying he had never promised it would surpass Bitcoin. “I’ve taken it as far as I can,” he said, likening the handover after decentralization to “Oda Nobunaga is dead; now we have to live with the Tokugawa shogunate.” As for demands to drive up the price, he called them a bottomless pit: no matter what price he stepped away at, investors would be unhappy.
He also revealed during the livestream that he has no immediate plans to serve as an on-chain governance delegate representative (DRep). He admitted he was tired of the community’s endless political arguments. He even said he couldn’t control the Cardano Foundation, let alone spend his energy fighting major governance battles over protocol forks or cutting off funding. He plans to shift his focus to the Midnight privacy sidechain and game development. This means that, now that the public blockchain’s technical roadmap is complete, community governance and fund allocation are entering an exploratory phase without a strong leader at the helm.
According to Binance spot market data, ADA fell about 8% today and is currently trading at $0.15. Compared with its September 2021 peak of $3.09, the token has fallen about 95%. Cardano’s market valuation has historically depended heavily on its founder’s academic evangelism and grand vision. Its development roadmap has now officially reached its conclusion, but the ecosystem still has few applications with significant on-chain traction. With the market no longer supported by expectations of future technical developments, selling pressure with little buyer support is showing up directly in spot-market depth.
Key indicators to watch next are the on-chain DRep voting participation rate and the Foundation treasury budget vote. If participation remains low without the founder at the helm, or ecosystem incentive programs stall, ADA could face a prolonged test from a liquidity discount. Conversely, if the community independently delivers real-world applications within the next two quarters, the token may have a chance to establish a base as trading changes hands in the $0.12–$0.15 range.
These are personal views and a summary of information, not investment advice. DYOR.
$ADA
According to BlockTempo, Cardano founder Charles Hoskinson said bluntly during a recent livestream that the roadmap for the five eras of the public blockchain has been fully completed. Responding to community criticism over the token’s weak price, he pushed back, saying he had never promised it would surpass Bitcoin. “I’ve taken it as far as I can,” he said, likening the handover after decentralization to “Oda Nobunaga is dead; now we have to live with the Tokugawa shogunate.” As for demands to drive up the price, he called them a bottomless pit: no matter what price he stepped away at, investors would be unhappy.
He also revealed during the livestream that he has no immediate plans to serve as an on-chain governance delegate representative (DRep). He admitted he was tired of the community’s endless political arguments. He even said he couldn’t control the Cardano Foundation, let alone spend his energy fighting major governance battles over protocol forks or cutting off funding. He plans to shift his focus to the Midnight privacy sidechain and game development. This means that, now that the public blockchain’s technical roadmap is complete, community governance and fund allocation are entering an exploratory phase without a strong leader at the helm.
According to Binance spot market data, ADA fell about 8% today and is currently trading at $0.15. Compared with its September 2021 peak of $3.09, the token has fallen about 95%. Cardano’s market valuation has historically depended heavily on its founder’s academic evangelism and grand vision. Its development roadmap has now officially reached its conclusion, but the ecosystem still has few applications with significant on-chain traction. With the market no longer supported by expectations of future technical developments, selling pressure with little buyer support is showing up directly in spot-market depth.
Key indicators to watch next are the on-chain DRep voting participation rate and the Foundation treasury budget vote. If participation remains low without the founder at the helm, or ecosystem incentive programs stall, ADA could face a prolonged test from a liquidity discount. Conversely, if the community independently delivers real-world applications within the next two quarters, the token may have a chance to establish a base as trading changes hands in the $0.12–$0.15 range.
These are personal views and a summary of information, not investment advice. DYOR.
$ADA
