"I haven't sold a single one"...Hoskinson maintains largest holding despite Cardano's sharp drop

▲ Cardano (ADA)

Cardano (ADA) founder Charles Hoskinson has dismissed rumors of selling, stating that he remains the largest holder despite the price plummeting over the past six months.

According to crypto media outlet The Crypto Basic on April 24 (local time), Cardano founder Charles Hoskinson recently responded to rumors of asset sales via social media. Hoskinson emphasized that he has not sold a single coin, even as Cardano's price has plummeted by 75%. He still holds one of the most significant amounts of assets within the ecosystem. These remarks appear intended to demonstrate his confidence in the project's future value.

Hoskinson focused on allaying anxiety spreading within the community. He stated that he remains one of Cardano's largest holders. He also made it clear that he is contributing to network security through staking, even during the bear market. He asserted that rumors of developer departures or fund withdrawals are completely unfounded. Instead, he claims to be using the current correction period as an opportunity to strengthen the ecosystem's fundamentals.

Cardano's price has fallen by approximately 75% over the past six months. Investor sentiment is significantly subdued. Compared to its past reputation as a top-tier cryptocurrency by market capitalization, its recent performance has been poor. This has largely been influenced by the growth of competing mainnets like Solana. However, Hoskinson emphasized that completing the long-term roadmap is more important than short-term price fluctuations. He analyzed that governance upgrades are key to restoring intrinsic value.

The founder's declaration of holding is expected to serve as a psychological support level, alleviating selling pressure. On-chain data from Santiment also supports this. The proportion of whales holding large amounts of Cardano remains high. This suggests that long-term investors are still betting on its technical value. Hoskinson, too, is maintaining Cardano's proportion in his portfolio, aligning his fate with the ecosystem.

Cardano now faces the challenge of improving actual user metrics. Development activities to enhance decentralization are set to continue. It remains to be seen whether the founder's strong declaration of holding can turn investor sentiment around. Ecosystem expansion to lay the groundwork for price recovery is still ongoing. Market attention is focused on Charles Hoskinson's actions.

*Disclaimer: This article is for informational purposes only and does not take responsibility for investment losses based on it. The content should be interpreted solely for informational purposes.*