TLDR
- Charles Hoskinson said short-term ADA price weakness does not define Cardano’s long-term value.
- Hoskinson recalled ADA’s rise from $0.025 to $3.10 during a previous market cycle.
- He said Cardano’s strength comes from research-driven development and careful engineering.
- Hoskinson highlighted Midnight and RealFi as important parts of Cardano’s future growth.
Charles Hoskinson reaffirmed Cardano’s long-term outlook despite its prolonged market decline. He said technology matters more than short-term price movements. He also said strong fundamentals outlast every market cycle.
Hoskinson Recalls Cardano Price History
Hoskinson recalled Cardano trading near $0.025 before reaching $3.10 during the 2021 bull market. He said recent weakness does not erase that history. He rejected claims that Cardano has reached its end.
He compared ADA with Bitcoin and its repeated boom-and-bust cycles. He argued every major blockchain has faced severe corrections. He said temporary losses never define lasting value.
Hoskinson said previous downturns never changed his long-term conviction. He stated, “I’ve never lost faith in the vision and the direction of things.” He added that Cardano still follows the same roadmap.
Engineering Focus Supports Long-Term Goals
Hoskinson argued competitors can copy features but not development principles. He said Cardano depends on research, quality, and careful engineering. He also referenced recent disagreements involving Ethereum and UTXO concepts.
He said the cryptocurrency market has entered a more mature phase. He argued sustainable growth now depends on useful products and stronger ecosystems. He also dismissed expectations of effortless tenfold gains.
Hoskinson identified Midnight as a major long-term initiative for the network.
He said, “If Midnight is a success, you’ll have a $10B thing on Cardano.” He added that similar ecosystems could follow over time.
RealFi Expands Practical Blockchain Development
Meanwhile, Cardano continued adding practical financial applications through the RealFi Testnet Phase 1 launch. The initiative targets underserved communities with broader financial access. It also allows participants to test important protocol functions.
Users can swap supported test assets for test USDr during the program. They can also stake assets and receive test sUSDr. Later, participants can unstake assets through the PreProd network.
Cardano traded at $0.1691 during reporting, reflecting a 94.54% decline from its $3.10 record. The network held a $6.16 billion market capitalization and ranked fifteenth globally. Hoskinson maintained that Cardano can recover through continued development and broader ecosystem growth.
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