Crypto projects have strong fundamentals but the market is painting a different picture: Hoskinson
Cardano Creator Charles Hoskinson Says Crypto Markets Are Disconnected From Reality Amid ‘Sea of Red’. Read This Full Report
Charles Hoskinson talked about the current downturn in the crypto market and noted that the majority of the projects including Cardano are not showing the real picture of what they are.
Charles Hoskinson is the founder of Cardano blockchain and also he is one of the co-founders of the Ethereum blockchain project. At present, he is contributing to his project Cardano to make it the best commercial crypto network, while he left Ethereum blockchain a long time back because he disagreed with the team on the future use of Ethereum.
On 7 September, Charles Hoskinson took to Twitter to talk about the current downturn in the digital assets market, where the majority of the assets are down by more than 60-70% over the all-time high prices.
Hoskinson said that it is a bitter sad reality that the current situation is making the crypto market different from reality. Even though strong fundamentals-based crypto projects like Cardano never were strong, which is, because of the red market situation.
A universal truth about crypto is that the markets are disconnected from reality. Cardano has never been stronger and frankly many other projects are also solid across the industry, yet you don't see that reflected- just a sea of red. Macro factors always win out. (1/2)
— Charles Hoskinson (@IOHK_Charles) September 6, 2022Further, Cardano’s founder said that the best of Cardano will come in the future, and also the project team should focus on bringing better utility cases & advantages for users.
“the focus needs to always be the true purpose of the technology. The problems it solves. The people it helps. The previously impossible new experiences are enabled. Cardano is changing the world thanks to all of you and our best days are ahead of us.”
Vasil Hardfork
The most important upgrade in the Cardano Blockchain will be introduced on 22 September, to increase the scalability & efficiency of the network.
It is expected that transaction fees of the Cardano network will be reduced by around 76%, which will be a better experience for retail & small investors. And it will show a significant impact on the NFTs trade fees in the Cardano blockchain ecosystem.
Read also: Biden’s executive order on crypto is a “Spyware”, Says James Rickards
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