- Cardano founder refutes “dead coin” claims.
- Community rallies to defend Cardano’s tech and potential.
- Debate sparks over institutional vs. community-driven success.
Charles Hoskinson, the founder of Cardano, recently responded to crypto influencer BitBoy Crypto’s claim that Cardano’s ADA token is “dead.”
On July 3, Ben Armstrong, known online as BitBoy Crypto, took to Twitter (recently rebranded as X) to share his views on leading cryptocurrencies like Polkadot (DOT) and Cardano (ADA). He asserted that both ADA and DOT are “dead to institutions,” which he believes will ultimately lead to their demise as legitimate investments.
“I want to be clear. Recently, I said DOT and ADA are both dead to institutions. Which ultimately will lead to their death as legitimate investments.”
However, he clarified that his statement does not mean the coins will completely collapse and predicted they could still offer returns to investors in this bull run.
BitBoy Crypto’s post sparked a wave of disagreement, with many users criticizing his assessment. Notably, @cardano_whale on platform X called BitBoy Crypto’s comments “funny” and questioned his logic in labeling coins with governance mechanisms as “dead.”
Dave, a Cardano developer and DEX enthusiast, also pushed back on BitBoy Crypto’s claims, highlighting the absence of technical analysis in his assessment. Dave emphasized Cardano’s strengths , including “self-governance, a strong community, self-sovereignty, a working and proven currency, energy efficiency, and a self-sustainable blockchain.”
Hoskinson responded to BitBoy Crypto’s statements with a lighthearted comment, stating:
“I guess I got to learn the banjo to make Ben happy.”
At press time, ADA is experiencing a negative inclination to the $0.3968 mark, with a dip of 4.56% in one day. Over the past month, the token has faced a notable decline of more than 13% despite a 3.87% surge in the last week.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
