Cardano Founder Says He Never Promised ADA Would Rise, as ADA is Down 95% - Coinpedia
Cardano founder Charles Hoskinson has stated he never promised to boost ADA's price, which has fallen nearly 95% from its 2021 peak.
During a November 7 livestream, Hoskinson addressed concerns from ADA holders about the cryptocurrency's dramatic price decline. "I never promised that. I said I'd love for it to happen, and I believe that Cardano is a better store of value than Bitcoin is for a variety of reasons." He emphasized that expressing possibility differs from making guarantees.
The ADA token has plummeted from its 2021 all-time high of $3.099 to approximately $0.1636, representing a staggering 94.72% loss. Hoskinson directly confronted investors expecting him to maintain or boost the token's value, calling out what he perceived as unreasonable demands.
Price Expectations
Hoskinson challenged the notion that he should be responsible for ADA's price appreciation, stating: "So you tell me you want me to pump your bags, and if I don't, I'm a scammer." He explained this creates an impossible cycle where investors at different price points would always feel shortchanged regardless of outcomes.
I don't promise price appreciation, or people overturning things. I say it's absolutely possible.
Network Development Complete
Hoskinson clarified his primary responsibility was completing Cardano's development roadmap, which he now considers finished. The network progressed through five stages - Byron, Shelley, Goguen, Basho, and Voltaire - each adding critical features like staking, smart contracts, and improved performance.
The final phase established community governance through the Plomin hard fork in January 2025, giving ADA holders voting rights. "My job was to build it and decentralize it, I have no power over this ecosystem," Hoskinson stated, emphasizing Cardano's independence from its founder.
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