Cardano founder Charles Hoskinson stated that he never promised ADA would increase in value, addressing investor concerns as the token has fallen significantly from its 2021 all-time high.
Hoskinson's Role and Responsibilities
During a November 7 livestream, Hoskinson explained that his job was to build and decentralize Cardano, not to manage the token's price. He said Cardano's roadmap is now complete, with planned upgrades delivered.
"My job was to build it and decentralize it, I have no power over this ecosystem," Hoskinson stated, adding that Cardano is now self-governing.
Clarifying Past Statements
When responding to a viewer who referenced his earlier comments about Cardano potentially becoming the largest cryptocurrency, Hoskinson distinguished between possibility and promise.
"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 a possibility is not equivalent to making a guarantee.
Hoskinson also noted that he does not promise price appreciation or market dominance, only that such outcomes are possible.
The Challenge of Investor Expectations
Hoskinson addressed the expectation that he should support ADA's price, pointing out the impossibility of meeting unlimited demands. He illustrated that if an investor buys at one price expecting higher returns, the next investor who buys at that higher price will have the same expectation, creating an unsustainable cycle.
Cardano's Development Stages
Cardano's development followed five stages: Byron, Shelley, Goguen, Basho, and Voltaire. These upgrades introduced staking, smart contracts, improved network performance, and voting rights for ADA holders. The Plomin hard fork in January 2025 completed the transition to community-led governance.
ADA's Price Performance
ADA has declined from its 2021 all-time high of $3.099 to approximately $0.1636, representing a drop of 94.72%.
