Cardano News Today – August 31

  • Cardano founder Charles Hoskinson conducts surprise AMA session.
  • Charles Hoskinson attempts to clear doubts about Cardano and ADA.
  • Members of the Cardano community have mixed reactions following Hoskinson’s live video.

Cardano News Today – Cardano’s founder Charles Hoskinson is one of the top pioneers of blockchain technology. He had a significant role to play in the development of the Ethereum blockchain. Last year, he founded Input Output Hong Kong in a bid to promote the development of a third-generation blockchain. Hoskinson’s vision for Cardano, however noble, hasn’t done much to influence the price of ADA.

At the beginning of the year, our Cardano price prediction was bullish. In anticipation of the Cardano Shelley upgrade, the price of ADA grew significantly in the first few months of the year. ADA was able to reclaim the 10th position on CoinMarketCap after being below the top 10 for a long time. However, as the Cardano Shelley upgrade grew near, the price of the ADA token fell significantly against the USD until it got to the 12th position on CoinMarketCap.

Cardano’s Charles Hoskinson Hosts Surprise AMA Session

The Cardano community hasn’t been happy about the poor performance of the ADA token. In a bid to address their doubts, Hoskinson hosted an AMA session which was posted on Twitter. Following the post, members of the Cardano community started to express mixed reactions about the comments from Hoskinson. Some were happy about the founder’s reassurance while others said that the fate of Cardano is sealed and there is no hope for the blockchain at this time.

In other news, the second phase of the Cardano Shelley upgrade is expected to be unveiled by the end of September 2019. Hopefully, when the Cardano Shelley upgrade is finally complete, the blockchain is 100% more decentralized than Bitcoin as predicted by Hoskinson. If this happens, Cardano will gain more adoption as complete decentralization is something that even Ethereum hasn’t achieved.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.00

Right now, Cardano has managed to crawl up to the 11th position on CoinMarketCap but the price of the ADA token still isn’t doing well. ADA is below XLM. It is down by over 1.31% against the USD. The price is currently hovering below $0.045. This is kind of discouraging when you consider the fact that the price was trading above $0.100 about two months ago.

It is important to note that the ADA token isn’t the only one that is falling against the USD. Bitcoin BTC, Ethereum ETH, and XRP’s XRP along with almost every other cryptocurrency in the top ten are falling against the USD. This morning, Bitcoin fell by more than 7% against the USD within a few minutes.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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