Crypto influencer BitBoy Crypto: “Cardano is dead”
Charles Hoskinson, the founder of Cardano, is fed up with the criticism from well-known crypto influencers. Ben Armstrong, better known as BitBoy Crypto, is one of those influencers who this time mentioned that Cardano’s ADA token is ‘dead’. This statement naturally led to a nice discussion on X.
BitBoy’s Controversial Claim
On July 3rd Armstrong posted a message on X stating that both ADA and Polkadot’s DOT are “dead to institutions.” He believes this will eventually lead to the end of these coins as serious investments. However, he added that they can still provide profits in the current bull market.
Community takes action
Armstrong’s comments were met with a lot of backlash. Several Cardano supporters came to the project’s defense. For example, a well-known Cardano whale called the comments “funny” and wondered how coins with governance rights could be “dead.” And Dave, a Cardano developer, pointed out the lack of technical substantiation in Armstrong’s review. He highlighted Cardano’s strengths, such as self-governance and a proven blockchain.
Hoskinson’s response
Charles Hoskinson responded to the criticism lightly, joking: “I’ll have to learn to play the banjo to please Ben.” He doesn’t seem to take the accusations too seriously.
Despite the fuss, the rate of ADA see a changing picture:
– At the time of writing, ADA is trading at €0.3515, down 5.84% in 24 hours.
– Over the past month, the price has fallen by more than 13%.
– However, in the last week there was an increase of 1.38%.
What does this mean for the future?
The Cardano debate shows how divided opinions can be in the crypto space. While some are writing off ADA, others remain convinced of the technology and potential of the project. The debate between institutional and community-driven success remains a major theme in the development of cryptocurrencies.
This situation underlines the importance of critical thinking and following developments in the crypto market. Whether ADA is indeed ‘dead’ for big investors, or is on the eve of new breakthroughs, only time will tell.
