Cardano Founder Denies Dumping ADA at $3 Amid 88% Price Decline

Charles Hoskinson fires back against accusations of selling his ADA holdings at the peak. The denial comes as Cardano's native token sits nearly 90% below its all-time high, sparking fresh debate about founder accountability during bear markets.

The $3 Question

Rumors swirled across crypto forums and social media, alleging the Cardano founder executed a massive sell-off when ADA briefly touched the $3 mark. Hoskinson's public rebuttal cuts through the noise, labeling the claims as 'categorically false' and a distraction from the project's technical roadmap.

Anatomy of an 88% Drop

The broader market downturn hit Cardano hard, mirroring declines seen across major Layer 1 protocols. From its lofty $3.10 peak, ADA's price action paints a stark picture of the post-bull market hangover—a sobering reminder that even 'fundamentally sound' projects aren't immune to gravity, or to the whims of traders who treat crypto like a casino with worse odds.

Trust, Transparency, and Tokenomics

Incidents like this put founder token allocations under the microscope. While Hoskinson maintains his commitment, the episode highlights the perpetual tension in decentralized projects: communities demand transparency, but often interpret every price move as an inside job. It's the crypto version of 'shoot the messenger'—especially when the message is a crashing portfolio.

For now, the focus shifts back to Cardano's development pipeline. But the shadow of the $3 price tag—and who sold there—will linger until the next bull run washes away the skepticism, or at least finds a new scapegoat.

Cardano founder Charles Hoskinson has pushed back against claims that he sold his ADA holdings near the token’s all-time high. Like many crypto executives, Hoskinson took to X to wish his followers a Merry Christmas.

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