Cardano Founder Addresses Price Speculations As ADA Struggles

Cardano has not been doing well these past couple of days. With strong competition from Solana, the digital asset has had a hard time maintaining its position in the market. This has translated into suffering prices on the part of ADA, causing the market to speculate on where the value of the asset might be headed. Founder Charles Hoskinson took to YouTube to address these speculations. Hoskinson who recently returned from his trip to Africa took to his YouTube channel to address the community on the trip and what lay in the future for the blockchain. As usual, the founder would usually take questions from the audience while live on YouTube and during the latest episode, the issue of price speculation came up a user asked about Solana flipping Cardano. Related Reading | Cardano Flips Solana, Tether To Reclaim Spot At 4th Place Everyone Will Be A Millionaire The question about the value of ADA seems to have struck a nerve with the founder, who questioned the identity of the user behind the question. Hoskinson said that there was something wrong with the way the market perceived value and this did not spell good news going forward. He pointed out that things like NFTs were being sold for insane amounts of money, saying the market was headed towards hyperinflation. ADA price trending above $2 | Source: ADAUSD on TradingView.com The founder explained that accumulating money will provide no real meaning or purpose to one’...