Charles Hoskinson, founder of IOG and Cardano blockchain, has commented on the current bloodshed on the crypto market, stating that Cardano has never been stronger.
"People just see a sea of red, Cardano has never been stronger"
Billionaire and mathematician Hoskinson shared "a universal truth" about crypto in his tweet. He stated that the markets have been disconnected from reality, and investors are only watching the prices of crypto they hodl, including Cardano's coin, ADA.
Despite the current bear market, Hoskinson wrote, Cardano has never been stronger, along with many other blockchains at the moment.
The current bear market includes ADA, which has demonstrated an 8.18% price drop. A coin's price does not reflect its actual macro factors that support the coin, Hoskinson intended to say, while the community does not see that as it only longs for quick profits.
A universal truth about crypto is that the markets are disconnected from reality. Cardano has never been stronger and frankly many other projects are also solid across the industry, yet you don't see that reflected- just a sea of red. Macro factors always win out. (1/2)— Charles Hoskinson (@IOHK_Charles) September 6, 2022
At the moment, Cardano's preparations for the upcoming Vasil hard fork are in full swing. As reported by U.Today recently, IOHK, the company that built Cardano, confirmed that the upgrade is going to take place on Sept. 22. Besides, recently ADA was listed by popular trading app Robinhood.
Here's what should be evaluated in crypto: Hoskinson
In the second tweet in the thread, cryptocurrency mogul Hoskinson shared what factors should actually be looked at when evaluating any cryptocurrency.
It is the "true purpose of the technology" that the focus should always be on – the real problems a crypto solves, the people it helps, the new opportunities that it opens for users, etc.
Cardano, per Hosksinson, lives up to these requirements and is changing the world. The "best days are ahead of us," he tweeted.
The focus needs to always be the true purpose of the technology. The problems it solves. The people it helps. The previously impossible new experiences that are enabled. Cardano is changing the world thanks to all of you and our best days are ahead of us (2/2)— Charles Hoskinson (@IOHK_Charles) September 6, 2022
A week ago, U.Today reported that Cardano joined in on the $11 million investment round in a fintech company based in Kenya, Africa.
Back then, Hoskinson tweeted that he was excited to support the Pezesha firm in changing the industry of microfinance in Africa and globally as well. Prior to that, in 2022, Cardano joined forces with Pezesha to create a system of decentralized finance in Africa.