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Cardano founder: Crypto is ready for a "gigabullrun"

Charles Hoskinson, the founder of Cardano, reacts with surprise to the ongoing downturn in the crypto market.

By Mike Hesp
• 2 min read
Cardano-oprichter: Crypto is klaar voor een “gigabullrun”

Charles Hoskinson, the founder of Cardano, reacts with surprise to the ongoing downturn in the crypto market. According to him, the recent price decline is at odds with the real situation within the industry.

On X (formerly Twitter), Hoskinson writes:

View post on X

With the term paper hands - literally "paper hands" - he is referring to inexperienced investors who sell in a panic when stock prices fall, thereby incurring losses.He compares the current situation to a five-year-old child throwing a tantrum in the supermarket and dropping to the ground. His conclusion: "Crypto always manages to amaze."

At the time of writing, the price of Cardano (ADA) stands at $0.67, down 12% from last week. This puts the price nearly 80% below the record level from September 2021.

Despite the share price drop, positive news was reported yesterday: the U.S. regulator SEC confirmed for the first time an application for a Cardano ETF filed by Grayscale. According to Polymarket, the probability of approval of an ADA spot ETF in 2025 has now risen to 65%.

Hoskinson remains optimistic about the future of established crypto projects. He predicts that institutional investors will remain skeptical of young crypto projects, while big names such as Cardano, XRP and Ethereum will benefit from a flight to quality.

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