Following the price drop of the ADA token, Cardano founder Charles Hoskinson took to Twitter to assert that the crypto market is disconnected from reality.
Cardano, along with other projects, is currently facing a bearish performance in the market. Cardano’s founder pointed out macro factors as a reason. However, he encouraged traders to overlook the recent bearish market, stating that “Cardano has never been stronger.” In addition, he said that the recent valuation does not show how solid these projects are.
Market sentiment can play a role in prices. However, it does not influence the efficiency of its platforms. A rock-solid technology backs up Cardano, which seeks to solve problems and offer chances and help to people. Right now, a price drop might lessen traders’ interest and excitement, but patience is needed for this technology to achieve its potential.
Every piece of technology produced by the creators has gone through a peer-review research process, allowing bold notions to be disputed before they are proven, and this has given the creators great delight. According to the Cardano team, this intellectual rigour increases the blockchain’s resiliency, dependability, and the likelihood of spotting possible threats.
Therefore, although the market is bearish, developers are incorporating upgrades and protocols to promote their projects. Incorporating such features can effectively make a loss in valuation temporary.
The Cardano ecosystem boasts to withstand the test of time and overcome every issue that affects it. The previous upgrades incorporated by the platform were received well by the Cardano community. The valuation of the ADA token surge and new upgrades should have a similar effect.
Traders are encouraged to remember the awaited Vasil upgrade, an upgrade that boasts of promoting Cardano to a higher level. This upgrade will effectively boost the performance of Cardano. Valuation should surge once again.