Crypto: Charles Hoskinson takes up the fight to defend Cardano's future

90% losses. Cardano’s record is brutal. ADA is trading today around $0.27, far from its all-time high of $3.10 reached in September 2021. However, its founder Charles Hoskinson refuses to give up. He promises a comeback. Crypto markets, meanwhile, are still waiting to be convinced.

Hoskinson takes up the fight and defends Cardano

It was during a recent podcast that Charles Hoskinson spoke out, in an offensive tone. The founder of Cardano rejected any notion of decline, stating that his project “remains in the race and fights for everything.” A strong declaration, at a time when skepticism around ADA is at its peak.

Hoskinson relies on several levers to reverse the trend. He notably cites upcoming protocol upgrades, strategic partnerships being finalized, and especially the imminent launch of the Midnight Network, a sidechain dedicated to data privacy. For him, these developments are the true engines of a long-term recovery.

However, the founder’s enthusiasm clashes with a harsh technical reality. The pseudonymous analyst Gnarleyquinn described the situation as “post-midnight,” a barely veiled nod to the future sidechain, emphasizing that the ADA crypto has systematically failed to break through Fibonacci resistances during every rebound attempt since 2021. Each recovery stuck at progressively lower levels. The chart does not lie.

Whales accumulate quietly, institutions follow

While the debate rages on the surface, a discreet but significant activity takes place behind the scenes. According to Santiment data published on February 24, addresses holding between 100,000 and 100 million ADA have accumulated 819 million additional tokens over the last six months. At the current valuation, this represents nearly $214 million. These large wallets now hold 70% of the circulating supply.

This behavior is not accidental. Whales tend to strengthen their positions during downturn phases, anticipating a favorable entry point. By withdrawing tokens from the active circulation, they mechanically reduce the available supply, a factor that can amplify any recovery if demand stabilizes.

On the institutional side, Grayscale Investments has also reinforced its conviction: ADA’s weighting in its Smart Contract Fund has increased from 19.50% to 20.12%, making Cardano more than one-fifth of the portfolio. A modest reallocation, certainly, but symbolically strong.

Cardano today embodies a contradiction: a technically ambitious project, driven by a combative founder and patient investors, but whose crypto market has yet to validate the thesis. The launch of the Midnight Network and upcoming upgrades will be decisive. So far, the promise holds, but it still awaits its proof.