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Cardano (ADA) fundamentals remain strong amidst negative price action for the Ethereum competitor and smart contract network, according to its founder and CEO of Input Output Hong Kong (IOHK), Charles Hoskinson.
In a recent ask-me-anything session on YouTube, Hoskinson highlighted the various ADA metrics and says that each improved over the past couple of years.
“The good news is every single metric you can measure about the health of Cardano from January 1st, 2020 to what we’re going to close out the year, December 31st, 2021, every metric over the last 24 months has been absolutely exceptional from the amount of ADA staked, to the amount of active users, to the catalyst participation, to the social signals, to account creation on Reddit, Telegram and other things, to the actual transaction volume on Cardano, the growth of use and utility of Cardano, the DApp ecosystem that’s formatting for Cardano, even venture capital investment. Every metric you can measure, meaningful or otherwise, has improved. It’s not a single one that hasn’t.”
Since Cardano hit an all-time high of $3.10 in September, it lost more than half of its gains and is currently trading at $1.27 according to CoinMarketCap.
Nevertheless, the disappointing price of the sixth-largest crypto asset, does not upset the Cardano founder calling it just “noise”:
“The noise would have you believe that all of these doesn’t exist or it’s a fantasy because it’s 10 years out and by then all the network effect is lost. But the people actually paying attention realize that we’re developing faster than most people in the ecosystem. We’re still number one in many cases, many weeks for GitHub commits and the noise would have you believe that maybe that’s just ‘hello world’ being appended again and again and again. The reality is when you actually look at it, it’s real software. It’s real code.”
Looking forward to the new year, Hoskinson hints at an exciting new open-source project hitting the crypto space:
“It’s very significant updates that are accelerating and more teams are coming in. More decentralization is occurring at the core and next year we’re going to see the formation of a very serious industry-leading open-source project, which I think is the bureaucracy of open source and the governance of open source done right and built for high participation of dozens if not hundreds of companies.”