Cardano Price Forecast As Ripple CTO Responds To Charles Hoskinson’s Comments – This Is What Happened
By Joel Frank, @joel-frank
The native cryptocurrency of the smart-contract-enabled, high-performance Cardano blockchain, ADA,bounced by around 2 per cent on Tuesday, and was last changing hands in the US$0.26 area, having briefly dipped under US$0.25 during Monday’s crypto-wide sell-off on hawkish central bank/recession concerns.
ADA’s pick-up on Tuesday comes amid a broad recovery in cryptocurrency markets, despite another hawkish central bank surprise, this time from the Bank of Japan, who unexpectedly tweaked their so-called “yield curve control” policy, facilitating a near 20 bps jump in Japanese 10-year government bond yields (similar to the effect of a rate hike).
However, price predictions remain downbeat. ADA’s recovery on Tuesday still leaves the cryptocurrency down more than 3.0 per cent on the week and lower by around 19 per cent on the month. Meanwhile, versus the start of the quarter, ADA has lost about 40 per cent of its value, with many bears confident that the cryptocurrency is set for further losses.
ADA traders have largely ignored the fact that Cardano’s founder Charles Hoskinson, who also functions as Input Output Hong Kong’s (IOHK) CEO, has fallen out with the Ripple community. IOHK is the non-profit company tasked with the development of Cardano and other crypto projects.
At the end of last week, Cardano founder Charles Hoskinson uploaded a video to Twitter outlining his reasons as to why he will no longer respond to questions about the Ripple project, or engage with members of the Ripple community.
