Charles Hoskinson, the inventor of Cardano (ADA), said that the underlying value of crypto projects is not represented in the values of their particular tokens.
Cardano and “many other” crypto projects, according to Hoskinson, have solid foundations, but the market paints a different image.
“A common fact regarding cryptocurrencies is that their marketplaces are detached from reality. Cardano has never been stronger, and many other projects throughout the industry are likewise robust, but you can’t tell since the market is a sea of red. Macro considerations are usually decisive.”
At the time of writing, Cardano is trading at $0.462, down about 85 percent from its all-time high in September 2021. The market capitalization of all cryptocurrencies has decreased by nearly 65%, from over $3 trillion in November 2021 to just under $950 billion now.
Cardano’s finest days are still to come, according to Hoskinson, but crypto ventures should focus on how consumers may profit from their unique systems.
“The emphasis must always be on the technology’s intended function. The issues that it resolves. Those it benefits. The newly possible experiences that were previously impossible. Cardano is transforming the world because of you guys, and our finest days are still to come.”
Hoskinson’s announcement before the 22nd of September launch of Cardano’s Vasil update. The Vasil update is intended to boost Cardano’s scalability and reduce transaction fees.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.