Hoskinson Denies Selling ADA at $3 as Cardano Down 88% from ATH
Cardano founder Charles Hoskinson publicly denied claims he sold large amounts of ADA when the token peaked above $3 in September 2021. The allegation re-emerged after a year-end post on X, with a commenter accusing him of not rebuying ADA after its fall to roughly $0.30. Hoskinson called the narrative "made-up noise," blamed bots for amplifying the claim and dismissed repeated assertions as false. Market data show ADA trading near $0.35 after a failed 2025 rebound, down about 5.4% week-on-week and 16.8% month-on-month, and roughly 88% below its $3.09 September 2021 all-time high. Looking ahead, Cardano has roadmap items scheduled for 2026 — including the Leios upgrade, DeFi enhancements and the mainnet launch of the privacy-focused Midnight sidechain — which supporters say could underpin longer-term interest in ADA. For traders, key technical levels to watch are immediate support near $0.35 (break could target $0.30) and resistance in the $0.38–$0.40 band; a meaningful recovery would likely require reclaiming and holding above $0.50 to trigger short-covering and renewed spot demand. Primary keywords: Cardano, ADA, Charles Hoskinson. Secondary keywords: ADA price, ADA correction, Leios upgrade, Midnight mainnet, DeFi upgrades.
Neutral
The news is market-neutral for ADA. Hoskinson’s denial removes a narrative that could have significantly damaged investor sentiment, which is short-term reassuring but not materially bullish because it does not create new capital inflows or product launches by itself. Current price action—ADA trading near $0.35 and roughly 88% below its 2021 ATH—reflects prolonged bearish pressure and macro factors. Roadmap items for 2026 (Leios, DeFi upgrades, Midnight mainnet) provide potential medium-to-long-term catalysts, but they remain future events and their successful delivery and impact on adoption are uncertain. For traders: in the short term, watch technical levels (support at $0.35, next at $0.30; resistance $0.38–$0.40; structural recovery above $0.50). A confirmed break below $0.35 would likely accelerate downside, while a sustained reclaim of $0.50 would be required to shift sentiment bullish. Overall, the denial reduces reputational downside risk but does not by itself change ADA’s immediate supply-demand dynamics.