Cardano (ADA)Crypto News

Here’s what really happens to Cardano when the price of its top crypto asset drops, according to Charles Hoskinson

Charles Hoskinson says the fundamentals of Cardano (ADA) remain strong despite the falling price of the smart contract platform and Ethereum Competitor.
In a new Ask-Me-Anything session, the Cardano founder and CEO of Input Output Hong Kong (IOHK) looks at ADA’s various metrics and says that each one has seen significant growth over the past two years.

“The good news is that every single Cardano health metric can be measured from January 1, 2020 to the end of the year, December 31, 2021. Every metric in the last 24 months has been absolutely extraordinary from the amount of ADA used, the number of active users, the catalyst participation, the social signals, the account creation on Reddit, Telegram and other things, the actual transaction volume on Cardano, the growth in usage and the benefits of Cardano, the DApp ecosystem that Cardano formats, even venture capital investments. Every metric that you can measure, meaningful or otherwise, has improved. There isn’t a single one who hasn’t done this. “

Hoskinson’s comments come as the Cardano price has been increasing since his All time high continues on a downward trend from $ 3.10 in early September. At the time of writing, ADA exchanges hands at $ 1.24.

Cardano’s creator insists that ADA’s price action is just “noise” as he believes the seventh largest crypto is still one of the leaders in the digital asset space.

“The noise makes you believe that none of this exists or is a fantasy because it was 10 years ago and by then the entire network effect will be lost. But the people who are really paying attention realize that we are evolving faster than most of the people in the ecosystem. We’re still number one in many cases, many weeks on GitHub commits, and the noise makes you believe that maybe this is just appending ‘hello world’ over and over again. The reality is, if you actually look at it, it is real software. It’s real code.

Hoskinson also shares what to expect from Cardano’s development over the next year.

“These are very significant updates that are getting faster and faster and more teams are joining. At its core, there is more decentralization going on and next year we are going to see the formation of a very serious industry leading open source project, which I think it is. ”Open source bureaucracy and open source governance done right and on high participation designed by dozens, if not hundreds, of companies. “

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Source: Crypto News Deutsch

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