As per Captainaltcoin, Cardano founder Charles Hoskinson has denied allegations that he sold his ADA holdings near the token’s all-time high of $3.10. The claims resurfaced after Hoskinson posted a holiday message on X, which some users interpreted as a sign of insider selling. In response, he stated that the accusations are based on misinformation and emphasized that repeated claims do not make them true. At press time, ADA was trading around $0.353, down nearly 89% from its 2021 peak. The token has declined 55% over the past three months and 58% year to date. Many large-cap cryptocurrencies remain far below their previous cycle highs, with Dogecoin trading over 80% below its peak. Market participants remain divided on Cardano’s long-term prospects, with supporters citing ongoing development and critics pointing to underperformance.
Cardano Founder Denies Selling ADA at $3 Amid 89% Price Drop
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Summary
Cardano founder Charles Hoskinson has denied claims he sold ADA near its $3.10 peak. The rumors resurfaced after his holiday post on X, which some linked to on-chain data showing large transfers. Hoskinson called the accusations baseless, stressing that false narratives don’t become true through repetition. ADA now trades at $0.353, down 89% from its 2021 high. On-chain analysis shows the token has lost 55% in three months and 58% year to date. Market sentiment remains split, with supporters highlighting development progress and critics pointing to poor performance.
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