Cardano (ADA) finds itself at the center of attention once again. As ADA approaches a critical resistance level, Cardano’s founder, Charles Hoskinson, has taken to social media to address what he calls “epic levels” of misinformation surrounding the project.
This latest development comes at a time when analysts are eyeing Cardano’s potential for major growth, particularly in light of its recent governance upgrades. The controversy stems from persistent claims about ADA’s staking mechanism and adoption rates. Hoskinson is now confronting these allegations head-on.
Hoskinson Rebuts “Locked Staking” Myths
Charles Hoskinson recently took to X to express his disappointment with what he perceives as a campaign of misinformation against ADA. “The lies and misinformation about ADA have reached epic levels,” Hoskinson declared, specifically addressing claims about locked staking on the network.
He stated that the stake isn’t locked on Cardano, questioning the credibility of those spreading contrary information.
The lies and misinformation about Cardano have reached epic levels. Stake isn’t locked, but they still lie.
Why does anyone trust these people anymore? https://t.co/8eh3LdoSw1
— Charles Hoskinson (@IOHK_Charles) September 11, 2024
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The controversy was ignited by a tweet from Stake With Pride, which highlighted ADA’s unique position in the top 20 cryptocurrencies as the only one with native liquid staking.
The tweet emphasized that no staked ADA is ever locked, and no liquid staking derivatives (LSDs) or liquid staking tokens (LSTs) are required.
Cardano’s Potential!
This assertion directly contradicts claims that ADA’s high market cap is due to users being tricked into locked staking positions they cannot exit.
If we see a parabolic bull run, most altcoins will probably pump.
But imagine the altcoin that just implemented the largest community-owned & decentralized governance system.
Now picture that altcoin is Cardano.
When the market & headlines catch on, it could shatter records.
— Dan Gambardello (@cryptorecruitr) September 11, 2024
Amidst the controversy, crypto analyst Dan Gambardello offered a bullish perspective on ADA’s potential. Gambardello suggested that in the event of a parabolic bull run, Cardano could “shatter records” due to its recently implemented governance system.”
Adding to the intrigue, technical analysts are closely watching ADA’s price action. World of Charts noted that ADA is “Approaching Towards Key Resistance Expecting Breakout Soon,” suggesting that the digital asset may be on the verge of a major move.
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