Hoskinson Acknowledges $3B Unrealized Loss, Says He’s Holding - Crypto Economy
TL;DR Charles Hoskinson acknowledged an unrealized loss of more than $3 billion in ADA during a livestream from Japan. Cardano trades near $0.27 after a weekly drop of nearly 17%; trading volume jumped 111%...
TL;DR
- Charles Hoskinson acknowledged an unrealized loss of more than $3 billion in ADA during a livestream from Japan.
- Cardano trades near $0.27 after a weekly drop of nearly 17%; trading volume jumped 111% to $2.15 billion and market capitalization stands around $9.7 billion.
- Hoskinson confirmed that he does not plan to sell and ruled out any change in his stance.
Charles Hoskinson acknowledged an unrealized loss of more than $3 billion tied to his personal ADA holdings, amid a phase of strong pressure across the crypto market. Hoskinson shared this information during a livestream broadcast from Japan.
Hoskinson explained that the deterioration of his position resulted from the cumulative decline in ADA’s price and clarified that the losses are on paper. He stated that he has no intention of selling and ruled out any change in position in response to the market adjustment. As he noted during the broadcast, the position of founders cannot remain insulated from the bearish cycles affecting the rest of the user base.
Hoskinson Confirms He Does Not Plan to Sell
Cardano (ADA) is going through a new phase of weakness, with the token trading near $0.27 after posting a weekly decline of close to 17%. According to the latest data from CoinMarketCap, ADA rebounded 1.7% over the past 24 hours, in line with the performance of the broader market as it recovers from yesterday’s sharp hit. Trading volume over the last 24 hours reached $2.15 billion after climbing 111%, driven by intense activity amid persistent selling. Its current market capitalization stands at around $9.7 billion.
Cardano Maintains a Bearish Structure
ADA’s technical behavior continues to reflect a bearish structure. On shorter time frames, the relative strength index stands near 38 points, below neutral levels. Although the indicator showed a slight rebound from recent lows, it has not altered the sequence of lower highs. The MACD remained in negative territory, with both lines below zero, while the histogram began to contract, signaling a slowdown in the bearish trend without confirmation of a reversal.
Bitcoin briefly fell toward the $60,000 area, triggering a wave of liquidations worth billions of dollars and accelerating deleveraging processes. In that context, heavy BTC transfers, institutional outflows, and weak results from mining companies were recorded, exacerbating a correction driven by liquidity and elevated macro volatility
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