$ADA

The founder of Cardano, Hoskinson, defends ADA as sound money.

As analysts contemplate the fate of Cardano considering its relatively poor performance, its founder Charles Hoskinson has just made a bold statement that may draw attention to the network and its native currency.

Addressing the network community, Hoskinson claimed that Cardano was the biggest threat to Bitcoin. A bold assertion he backed up by highlighting several points.

Among them is the resolution of the Nakamoto consensus, which allowed Cardano to stand up to Bitcoin in terms of transaction validity.

And this despite Cardano being a proof-of-stake network, which allows it to enjoy the advantages of both worlds.

Moreover, Hoskinson believes that Cardano currently has a superior network model compared to Bitcoin and other rival networks. Especially in terms of on-chain governance and programmability.

The founder of Cardano believes that these winning factors can provide a competitive edge and allow Cardano to outperform the competition in the long run.

However, short-term growth may not necessarily reflect those sentiments, especially in terms of key network performance metrics.

Here’s how Cardano has fared in key performance areas.

Address activity on the Cardano network revealed a certain decline over the last 2 years. The daily average of returned addresses in June 2023 significantly exceeded 50,000 addresses.

So far in June, the daily average of returned addresses on the network has been below 30,000 addresses. Cardano's DEX volume has also been struggling to regain strength in 2025 compared to its performance in the fourth quarter of 2024.

To contextualize, the DEX volume slightly exceeded 32 million USD at its peak in December of last year. Since then, it has decreased so much that the daily DEX volume has struggled to surpass 5 million USD.