Tensions are rising in the Cardano ecosystem, putting pressure on the Cardano price prediction as founder Charles Hoskinson faces public criticism from a key supporter known as “Cardano Whale.”
The outspoken backer accused the Cardano Foundation of years of empty promises and said he’ll vote “No” on all proposals from Input Output, the company leading Cardano’s development.
He claims the team has delivered little while requesting massive funding to continue what he describes as a cycle of non-performance.
This support refers to the network’s clear lack of ecosystem growth, reflected by its negligible total value locked (TVL) of $366 million compared to Ethereum’s $81 billion and Solana’s $10 billion TVL.
Cardano has failed to take advantage and monetize multiple top trends in the crypto space like decentralized finance (DeFi), meme coins, or artificial intelligence and has instead focused on develop “real world” applications that have not gained any traction.
https://twitter.com/IOHK_Charles/status/1947323551863971876
Cardano’s founder responded by saying that IO’s spending is relatively small compared to what other networks invest in ecosystem development initiatives and deemed Crypto Whales’ decision to automatically vote “No” as an emotional response.
This ongoing rift could erode Cardano’s credibility as Crypto Whale has been a long-time support of the network.
Cardano Price Prediction: ADA Could Hit $1.18 After a Brief Pullback
Cardano (ADA) has gone down by 2.2% in the past 24 hours as the crypto market has taken a breather after days of rallying.
The token has accumulated a 15.2% gain in the past 7 days and it is currently the 9th most valuable crypto asset.
The latest price action favors a move toward the $1.18 level despite this ongoing governance discussion.
Today’s breather has prompted a retest of a former resistance area at $0.87 that could now be turned into support.
This could provide an opportunity for late buyers to position themselves for ADA’s next leg up.
A bullish Cardano price prediction would see the token retreating to its 9-day and 21-day exponential moving averages (EMAs) first to raise the necessary liquidity for the next big move toward the psychological $1 threshold.
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The solution is available for iOS and Android devices and has received great reviews from early adopters.
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The post Cardano Price Prediction: Governance War Erupts as Hoskinson Defends IOG – What Happens to ADA Now? appeared first on Cryptonews.
