Cardano founder Charles Hoskinson has dismissed renewed claims that he sold his ADA holdings near the asset’s previous all-time high. The clarification comes as Cardano regains attention amid broader market volatility.
Charles Hoskinson Pushes Back Against Longstanding Claims
In an X post, Hoskinson denied allegations that he sold ADA tokens when the cryptocurrency traded near $3 during the 2021 market cycle. He made the clarification in response to a fresh allegation from an X user who claimed that the Cardano boss sold ADA at $3 and refused to repurchase the token when the price plunged to $0.3.
The user argued that Hoskinson’s reluctance to repurchase ADA at lower prices calls his confidence in the token into question. In response, the Cardano founder firmly rejected the claim, stating that he never sold his ADA holdings near the $3 level. He stressed that repeated allegations of a peak-market selloff do not become true, no matter how often they are repeated.
He has often described the allegations as misleading and harmful to the broader Cardano ecosystem, particularly for newer investors trying to assess the project’s long-term fundamentals.
Meanwhile, despite the dump claim, Hoskinson has previously disclosed that a significant portion of his ADA allocation is either locked, delegated, or committed to ecosystem development, reinforcing his position as a long-term participant rather than a short-term seller.
Transparency, Token Distribution, and Community Reactions
Meanwhile, the recent controversy has reignited discussions around transparency in blockchain leadership and token ownership. While Cardano’s token distribution has been widely analyzed over the years, critics argue that founder holdings should always be subject to public scrutiny, especially during major price rallies.
Community members defending Hoskinson point to Cardano’s extended development timeline, its research-driven approach, and the absence of on-chain evidence supporting large ADA sell-offs tied to the founder. Others note that similar accusations have been levied at the founders of other major blockchain projects, often without verifiable proof.
Further, they argue that Hoskinson’s continued public engagement and development focus contradict claims of a major exit near market highs.
ADA Price Performance and Market Outlook
According to CoinmarketCap, ADA is trading around the $0.35 mark, representing a decline of over 88% from its previous all-time high of around $3.10 in 2021. However, the price action only reflects broader market conditions as top assets like Bitcoin and Ethereum remain bound in consolidation.
However, despite the renewed controversy, ADA’s price action has remained relatively stable, recording a 1.45% increase in the past 24 hours, suggesting a limited immediate impact from the claims.
Furthermore, the Cardano DEX ecosystem has also experienced an increase in activity since the launch of NIGHT, indicating that more investors are drawn to the ecosystem.
The CoinRemark Team
