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02/21/2024

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Cardano (ADA) Is 'Dog Shit'- BitMex Founder Arthur Hayes

Story Highlights BitMEX CEO Arthur Hayes expressed polarizing opinion on Cardano. He sparked controversy after addressing Cardano as "dog shit." Cardano Founder Charles Hoskinson also found himself...

Cardano (ADA) Is 'Dog Shit'- BitMex Founder Arthur Hayes

Cardano (ADA) Is 'Dog Shit'- BitMex Founder Arthur Hayes

Story Highlights

  • BitMEX CEO Arthur Hayes expressed polarizing opinion on Cardano.
  • He sparked controversy after addressing Cardano as "dog shit."
  • Cardano Founder Charles Hoskinson also found himself entangled in the debate initiated by Hayes.

Arthur Hayes, co-founder of BitMEX, didn’t mince words when he labeled Cardano (ADA) as “dog shit” in a recent social media post. Moreover, Cardano Founder Charles Hoskinson was entangled in a conversation with Hayes as the former extended several questions to attain clarity. Though the clash wasn’t major, it attracted the ADA community’s attention as their favorite crypto was under heat.

Arthur Hayes Heavily Criticizes Cardano

In a post on X, Arthur Hayes shared a screenshot illustrating the dominance of dApps like Lido Finance and Uniswap in fee acquisition. Moreover, he questioned Cardano-based dApps’ absence from the list. He challenged ADA believers and highlighted the lack of impactful dApps on the platform.

Thereafter, he concluded that Cardano is “dog shit” and sought clarification from Hoskinson. The contentious remark has ignited debate within the crypto community as ADA supporters slammed Hayes’ comments. On the other hand, the Cardano founder seemed to have tackled the situation very politely.

The latest tweet comes in response to Hoskinson’s query of what Hayes dislikes about Cardano. Earlier, when Hayes openly expressed hate towards ADA in a recent interview, Hoskinson questioned, “Arthur, why are you throwing shade at Cardano?” To this, Hayes responded noting that Cardano is a “piece of shit” while criticizing its recent price action.

In addition, Hayes advocated Ethereum (ETH) adoption after earlier deeming ADA a “wannabe Ethereum” project. However, Hayes and Hoskinson extended positive remarks on a personal level while Hayes continued slamming ADA.

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Also Read: Cardano Founder Debunks XRP Conspiracy Theories in AMA

ADA Price Action

Though the Cardano price is experiencing a sluggish performance currently, it has fared fairly well in recent times. The ADA price has gained over 8% in the last seven days despite being hit by extreme volatility and significant pullback. Moreover, the crypto has surged 15% in the past 30 days.

However, in an interview with Coin Bureau, Hayes expressed hatred toward Cardano and predicted it to hit “zero.” As of writing, the ADA price slumped 4.06% to $0.5977 on Wednesday, February 21. The crypto held a market cap of $21.21 billion. Whilst, the ADA trade volume gained 1.94% to $721.40 million in the last 24 hours.

During the day, the Cardano price hit the bottom of $0.593, distancing further from the $0.60 mark. In addition, aligning with Hayes’ opinion on ADA’s poor performance, the crypto has lost 81% from its all-time high of $3.10 attained in September 2021.

Also Read: Cardano (ADA) Price To Hit $1 Soon But There’s A Condition

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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