This came in response to a supposed aggrieved user of Cardano (ADA) about the lethargic price trend exhibited by the digital currency lately.
The user indirectly challenged Hoskinson to swiftly come out with announcements that are capable of enhancing the price of Cardano (ADA) in the market.
The user tweeted, “I am hoping Charles Hoskinson announcement at the end of the month will bring some uptrend and fire.”
Read Also: Charles Hoskinson Warns Users of Scammers; IOHK Will Never Run ADA ‘Giveaway’ Promotion
In response to his agitation, Hoskinson stated that there is more to the Cardano ecosystem than price speculations:
“There is plenty of fire, you’re just focusing on the wrong thing. Price is meaningless and a vanity metric. Every month we are growing by every real metric. If you want to just focus on price, buy Tron.”
There is plenty of fire, you're just focusing on the wrong thing. Price is meaningless and a vanity metric. Every month we are growing by every real metric. If you want to just focus on price, buy Tron
— Charles Hoskinson (@IOHK_Charles) October 26, 2020
The response was greeted with mixed reactions from Cardano community members.
A user wrote, “It’s easy to say “price is meaningless” to your investors when your worth 500 million.. Come on man lol.”
Hoskinson responded by saying he knows his only job as the CEO of IOHK is to build great protocols on the Cardano network, rather than impacting the price trend of the digital token ADA:
“You are not my investor. I never took money from you. My job is to build a great protocol that it has real use and utility and is competitive against the other blockchains. It is not my job to make the price of ADA go up or down.”
You are not my investor. I never took money from you. My job is to build a great protocol that it has real use and utility and is competitive against the other block chains. It is not my job to make the price of ADA go up or down.
— Charles Hoskinson (@IOHK_Charles) October 26, 2020
Cardano (ADA) and Other Cryptocurrencies in the Market
Cardano (ADA), the 11th largest cryptocurrency by market capitalization, has been enduring a lethargic price growth over the past couple of days. And there are indications that the unfavorable trend is not yet over.
Read Also: Charles Hoskinson Hints at Cardano’s Foray into Decentralized Finance (DeFi)
Also, Cardano has been uncorrelated with the recent price boost experienced by the Bitcoin (BTC). At the time of filing this report, ADA is trading at $0.098653, with a relatively 5% price downtrend in the last 24 hours.
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