Charles Hoskinson, the creator of Cardano, has boldly responded to a forecast indicating that the native token of the platform, ADA, may fall out of the top ten cryptocurrencies. Eric Wall, a fervent supporter of bitcoin, posted on social media site X with a prediction that ADA may drop out of the elite group of top cryptocurrency assets.
He saw the MATIC token from Polygon, which is presently ranked number 14, moving up and passing Cardano. Hoskinson has responded to this prediction with great energy, as has the Cardano community.
The Cardano Community Remains Resolute
The Cardano community responded with vigor and speed. Known for his involvement in the community and active presence, Charles Hoskinson responded with a GIF, playfully rejecting the forecast. The GIF’s caption, “Well… we’re waiting!” conveys a certain amount of humor and confidence over the forecast.
Community members also immediately remembered Eric Wall’s track record of making false predictions about Cardano. Notably, Cardanians, the operators of the Cardano stake pool, pointed out that Wall had previously forecast a drop in Cardano’s reputation. They advised Wall to reevaluate his strategy and learn more about Cardano, especially its DeFi features.
The Market Position and Sturdiness of ADA
ADA continues to hold a dominant position in the market in spite of the speculative claims. With a valuation of more than $18.46 billion, it is currently ranked ninth, far ahead of its closest rivals. Considering its current position and strong community support, it appears improbable that ADA would lose a significant portion of its market capitalization and fall out of the top 10.
In terms of trading volume over a 24-hour period, ADA is now the 12th most traded coin. This degree of activity suggests a thriving market presence and investment interest, which lessens the likelihood of a sharp decline in ranking. As of the time of publication, the ADA market was still showing signs of strength, with a price increase of 2.55% from the intraday low to $0.5216.
