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90% loss. Cardano’s track record is brutal. ADA is trading around $0.27 today, far from its all-time high of $3.10 reached in September 2021. However, its founder Charles Hoskinson refuses to give up. He promises to return. Meanwhile, crypto markets are still waiting for their conviction.
Hoskinson takes up the fight and defends Cardano
It was during a recent podcast that Charles Hoskinson spoke in an offensive tone. Cardano’s founder dismissed any notion of a decline, saying his project “remains in the race and fights for everything.” A powerful statement at a time when skepticism about the ADA is at its height.
Hoskinson combines several levers to reverse the trend. In particular, he cites upcoming protocol upgrades, the completion of strategic partnerships, and especially the imminent launch of the Midnight Network, a sidechain dedicated to data protection. For him, this development is a real engine of long-term recovery.
However, the founder’s enthusiasm collides with the harsh technical reality. Pseudonymous analyst Gnarleyquinn described the situation as “after midnight”, a barely veiled nod to the future sidechain, highlighting that the ADA cryptocurrency has systematically failed to break Fibonacci resistance at every attempt to rebound since 2021. Each recovery has been stuck at successively lower levels. The chart is not binding.
Whales are quietly piling up, institutions are following
While the debate rages on the surface, behind the scenes there is subtle but significant activity. According to Santiment data released on February 24, addresses with 100,000 to 100 million ADAs have accumulated 819 million additional tokens in the past 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 random. Whales tend to strengthen their positions during bearish phases, anticipating a favorable entry point. By withdrawing tokens from active circulation, they mechanically reduce the available supply, a factor that can amplify any recovery if demand stabilizes.
On the institutional side, Grayscale Investments also strengthened its conviction: the weighting of ADA in the Smart Contract Fund increased from 19.50% to 20.12%, making Cardano more than one-fifth of the portfolio. A modest redistribution, to be sure, but symbolically powerful.
Today, Cardano embodies the opposite: a technically ambitious project, led by a fighting founder and patient investors, but whose crypto market has yet to confirm this thesis. The launch of the Midnight Network and upcoming upgrades will be decisive. The promise is valid for now, but it is still waiting for its proof.
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I am passionate about Bitcoin, I love exploring the intricacies of blockchain and cryptocurrency and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER OF LIABILITY
The views, thoughts and opinions expressed in this article are solely those of the author and should not be taken as investment advice. Before making any investment decision, do your own research.
