Ada is rising slightly, but this is why Cardano is still undervalued according to founder

Charles Hoskinson, founder of Cardano, expressed his frustration at the media’s lack of recognition of Cardano. He believes Cardano has strong fundamentals but is currently undervalued.

“Never before in my career have I seen such a big difference between reality and the opinion of cryptocurrency influencers and media about Cardano and its real fundamentals,” wrote Hoskinson recently on X.

Cardano upgrades and developments

Hoskinson calls Cardano a leader in the research and development of scalable blockchain technology. Many community dApps (decentralized applications) on Cardano are growing rapidly.

In addition, Hoskinson is optimistic about several project developments that he believes can fuel the growth of the Cardano ecosystem.

Cardano is about to undergo the Chang Hard Fork, a major upgrade described as “the most important” in the project’s history. That is a clever piece of marketing, because that is what is said about every Cardano upgrade.

This upgrade, scheduled for the second quarter of 2024, focuses on improved governance and greater community engagement.

Focus on community

Hoskinson also highlights that new technologies such as the Hydra scalability solution are starting to mature. Cardano works with well-known names such as Midnight and Prism.

“We organize a lot of community events and then the constitutional convention in Argentina,” he added.

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Events such as the Rare Evo blockchain convention and the Cardano Foundation Summit will also have a positive impact on the ecosystem.

Cardano is a powerhouse

“Cardano is here to stay, and it is a powerhouse that will, if necessary, drag this industry along to solve the economic, political and social problems we all face,” he concluded.

But of course there is also criticism, otherwise Hoskinson’s entire epistle would make no sense. Forbes magazine mentioned the token, ADA, one of the top “zombie tokens.” These are tokens with high market valuations but little practical application in the real world.

Hoskinson is determined to highlight the potential and true value of Cardano. The upcoming developments and events will determine how Cardano is seen and valued in the future.

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