Cardano Price Forecast as Ripple CTO Responds to Charles Hoskinson’s Comments – This is What Happened
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
ADA, the native cryptocurrency of the smart-contract-enabled, high-performance Cardano blockchain, bounced by around 2% on Tuesday, and was last changing hands in the $0.26 area, having briefly dipped under $0.25 during Monday’s crypto-wide sell-off on hawkish central bank/recession concerns.
ADA’s pick-up on Tuesday comes amid a broad recovery in cryptocurrency markets, despite another hawkish central bank surprise, this time from the Bank of Japan, who unexpectedly tweaked their so-called “yield curve control” policy, facilitating a near 20 bps jump in Japanese 10-year government bond yields (similar to the effect of a rate hike).
However, price predictions remain downbeat. ADA’s recovery on Tuesday still leaves the cryptocurrency down more than 3.0% on the week and lower by around 19% on the month. Meanwhile, versus the start of the quarter, ADA has lost about 40% of its value, with many bears confident that the cryptocurrency is set for further losses.
ADA traders have largely ignored the fact that Cardano’s founder Charles Hoskinson, who also functions as Input Output Hong Kong’s (IOHK) CEO, has fallen out with the Ripple community. IOHK is the non-profit company tasked with the development of Cardano and other crypto projects.
Hoskinson Has Had it With the Ripple Community, Ripple CTO Responds
At the end of last week, Cardano founder Charles Hoskinson uploaded a video to Twitter outlining his reasons as to why he will no longer respond to questions about the Ripple project, or engage with members of the Ripple community.
The Ripple community has unfairly attacked Hoskinson many times after taking comments that he has made about their project out of context, he claimed, before labeling the Ripple community the most toxic in the crypto space.