Cardano (ADA) founder Charles Hoskinson has dismissed fresh allegations that the blockchain is controlled by a few entities.
Critics argue that its governance model undermines decentralization, contrasting it with Bitcoin (BTC).
Meanwhile, ADA’s market performance has drawn attention, outpacing BTC and Ethereum (ETH) over the past six months.
Hoskinson Rejects Centralization Allegations
Hoskinson responded to criticism that three organizations—Cardano Foundation, Input Output Global (IOG), and Emurgo—wield control over Cardano’s ecosystem.
A post circulating on social media claimed this structure disqualifies Cardano from being a decentralized network.
In response, Hoskinson took to X, labeling the claims as misinformation. He argued that false narratives persist despite evidence to the contrary, adding that
“it takes millions of dollars and years to correct the effort.”
The Cardano ecosystem has seen significant growth, expanding through smart contract upgrades and new partnerships.
The Alonzo upgrade introduced smart contracts, making Cardano a competitor to Ethereum.
However, skepticism about its decentralization continues to circulate in the crypto community.
ADA’s Market Performance Surpasses Bitcoin and Ethereum
While Cardano faces scrutiny, its price action tells a different story. Data from TapTools shows ADA surged 102.82% in the last 180 days, outperforming BTC’s 39.98% rise and BNB’s 10.53% gain. Ethereum, by contrast, declined 19.80% in the same period.
The surge has fueled bullish sentiment. Santiment data revealed ADA’s social sentiment hit a four-month high.
The SEC’s classification of ADA as having a use case in “smart contracts for government services” has further strengthened investor confidence.
Despite strong momentum, ADA remains volatile. It trades at $0.6932, down 3% in the past 24 hours.
Analysts highlight $0.705 as a key support level. A drop below could trigger a decline toward $0.39, while maintaining support above $0.70 could push ADA toward $1.00.
What’s Next for Cardano Price?
Hoskinson’s defense of Cardano’s decentralization isn’t likely to silence critics anytime soon.
Accusations of network control by a few entities will likely persist, much like his warning that misinformation takes years to combat.
Whether Cardano can shake off these claims will depend on how its governance evolves in the coming years.
On the market side, ADA’s performance has kept investors watching. Holding above $0.70 remains key, but traders are eyeing $0.80 as the next resistance.
A push beyond that could fuel momentum toward $1, while a break lower might see ADA testing $0.39 in a worst-case scenario.
With volatility still in play, the coming weeks will reveal whether Cardano’s rally has more room to run or if a cooldown is on the horizon.
