Charles Hoskinson has strongly contradicted Ben Armstrong’s assertion that ADA represents a “dead” investment. Analyst Captain Faibik, on the other hand, foresees a potential 70% surge in ADA following a confirmed breakout.
Ben Armstrong recently commented on X, claiming that both DOT and ADA are unviable for institutional investors, labeling them as failing investments. He suggested their decline is imminent despite possible gains during favorable periods.
In response, Charles Hoskinson, the founder of Cardano, expressed disappointment with Armstrong’s perspective. He emphasized the accomplishments and future prospects of the Cardano blockchain. In a recent tweet, Hoskinson remarked:
“I remember when cryptocurrencies aimed to replace institutions, not reenact scenes from ‘Deliverance’.”
Hoskinson previously declined Armstrong’s offer for a discussion, asserting that further debate on ADA’s future is futile if one believes it’s already doomed.
Conversely, analyst Captain Faibik is optimistic about ADA’s potential for a significant bullish rally. Following ADA’s breakout from the upper boundary of its Falling Wedge pattern on the daily chart, he anticipates a 70% increase. The breakout was confirmed after a prolonged consolidation period.
Current data from CoinMarketCap shows ADA’s price at approximately $0.3813, reflecting a 6.25% decline over the past 24 hours. Despite this setback, the breakout and positive trend signal potential future gains.
Meanwhile, CNF has previously highlighted recent updates to Cardano, including significant technological advancements and performance milestones. These enhancements aim to bolster the overall capability and efficiency of the Cardano blockchain, ensuring its competitiveness and robustness.
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