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ADA Cardano denies founder retirement rumors
Charles Hoskinson denies rumors of plans to leave Cardano, refuting the rumor, while ADA token trading prices are near multi-year lows.
Key Points
Hoskinson called reports of his retirement a \"complete fabrication.\"
He accused edited video clips and reaction videos of spreading the claim.
Cardano faces weak token prices, governance disputes and a difficult altcoin market environment.
Cardano\'s withdrawal rumors
Hoskinson responded to these claims in a video released this week, following reports that he was retiring from the blockchain project. He said online commentators used video clips that were out of context and mistakenly presented earlier remarks as an admission that Cardano was failing. Hoskinson called on community members to share his response with those who continue to repeat the claim.
\"This is absolutely untrue. It\'s a complete lie, a complete fabrication,\"Hoskinson said.
This rumor has transcended cryptocurrency social media. Hoskinson said a London taxi driver told visiting Cardano supporters that he had heard the founder was retiring, and employees of a cooperative company allegedly passed the same story to their CEO.
Hoskinson said the video showed he was still active in the ecosystem, although he denied this at a time when the project and its community were going through difficult times.
ADA Market Pressure
ADA is currently trading at about $0.16, down about 94% from its all-time high of $3.09 in 2021, and recent governance disputes have further exacerbated already weak market sentiment. EMURGO recently left Cardano\'s Pentad governance agency after a wallet breach. Investor Justin Bons also called for Hoskinson to step down, drawing strong criticism from some members of the Caldano community.
But there are also some constructive signals. This month, Cardano added new wallet users despite weak ADA performance, and Hoskinson proposed governance reforms aimed at rebuilding confidence on the Internet.
The broader altcoin market remains suppressed. Bitcoin\'s dominance is close to 58%, the altcoin seasonal index is 45, and the cryptocurrency fear and greed index is still in the \"extreme fear\" range. Analysts generally believe that a drop in Bitcoin\'s dominance below 55.5% may become a condition for a large-scale shift in funds to altcoins. Until then, funds may still be concentrated in Bitcoin and Ethereum, limiting the prospects for recovery of smaller assets.
Cardano\'s recent woes have continued months of weak prices and internal debates over governance, leadership and treasury decisions that have repeatedly shaped investor confidence far beyond the impact of ADA\'s daily market fluctuations.
