Hoskinson responds to struggling trade price of ADA coin despite bull sentiments
Cardano founder responded to a meme over ADA coin price & confirmed that he is also frustrated with it.
Cardano is a popular Proof-of-Stake (PoS) crypto network that is known for its better network stability over other crypto networks and the unique script at which the whole blockchain network is designed. Charles Hoskinson is the founder of this crypto blockchain, after leaving the Ethereum project in 2013 he started working on Cardano & finally launched in 2017.
As we know, the trade price of ADA coin, the native Token of the Cardano blockchain, has been trading at $0.45 level for the last 30 days.
The current trade price is 42% down from the last 3 months of trade price.
Because of significant price downfall & no uptrends in the trade price, many Cardano haters call Cardano a ghost chain, a blockchain network that can’t be trusted by anyone. While some people created a meme to call ADA coin a stablecoin.
On 2 June 2024, Charles Hoskinson, the founder of Cardano, noticed the community’s jokes about ADA’s price. Although he usually doesn’t talk about ADA’s price, he joined in this time. He shared a Grim Reaper meme, showing Death surprised at ADA’s steady price. While funny, Hoskinson’s response also showed he understands people’s frustration and curiosity about ADA’s price.
It is worth it to note that the all-time high (ATH) of this cryptocurrency is $2.91 which was hit in the 2021 bull run. But in 2024, the all-time high of this cryptocurrency was $0.72.
This is a very frustrating thing for the Cardano lovers & Cardano believers because no one was expecting such a level of downfall in the trade price.
In recent months, many crypto enthusiasts talked about the surging popularity of Meme tokens and noted that people are shifting money towards meme tokens, instead of flagship crypto assets and this is the reason why the top cryptocurrencies are struggling in terms of price level.
