Key Insights:
- Cardano price traded near $0.164, down 94.7% from its all-time high.
- Charles Hoskinson reportedly said he never promised ADA would rise.
- ADA futures open interest stood near $349M at press time.
Charles Hoskinson distanced himself from the ADA price during a recent YouTube AMA. Wu Blockchain reported that he said he never promised the token would rise.
Cardano Price Under Pressure: What Did Hoskinson Reportedly Say?
Wu Blockchain shared the remarks on November 14. They came from a recent YouTube AMA. Hoskinson reportedly said he never promised Cardano would overtake Bitcoin (BTC). He also said he never promised the ADA price would rise.
He was responding to criticism from investors. He said some were effectively asking him to push the token higher.
Hoskinson apparently said he would love for that to happen. He added that he believed Cardano was a better store of value than Bitcoin (BTC). He reportedly said he did not promise price appreciation and only called such outcomes “absolutely possible”.
Is Cardano Finished? The Roadmap Claim
Hoskinson also reportedly said Cardano completed its original roadmap. He said everything he committed to building was in place. Wu Blockchain added that the network now governed itself. It no longer relied on him. The report did not mention new roadmap items or price targets.
Cardano Price Check: What Did the Data Show?
The Cardano price traded at $0.1638 at press time, according to CoinGecko. That marked a 4.2% drop over 24 hours. ADA also fell 10.9% over seven days. It ranked 18th by market capitalization at the time of writing.
The 24-hour range ran from $0.1623 to $0.1743. The seven-day range spanned $0.1623 to $0.1834. That put ADA near the bottom of its weekly range at the moment of writing. The 24-hour low matched the seven-day low. Market capitalization stood at $6.152 Billion, per CoinGecko. The 24-hour trading volume was $227.548 Million.
CoinGecko showed ADA 94.7% below its all-time high of $3.09. Wu Blockchain reported a similar drop of more than 94% from the 2021 peak.
Wu Blockchain also reported that ADA sat about 86% below its 2024 peak. The ADA/USD chart showed the 24-hour decline.
ADA Derivatives Data: Who Got Liquidated?
CoinGlass data showed ADA at $0.1636 at press time. That marked a 4.66% decline over 24 hours. ADA futures open interest stood at $349.01 Million at the time of writing. That marked a 6.59% decline over 24 hours. Open interest equaled 5.80% of ADA’s market capitalization at the moment of writing. CoinGlass rated that level as normal.
The OI-weighted funding rate stood at -0.0128% at press time. A negative reading meant shorts paid longs. Liquidations totaled $1.73 Million over 24 hours. Long positions made up 97% of that figure.
CoinGlass labeled the move long unwinding at press time. It defined that as falling price alongside falling open interest. Futures volume reached $452.16 Million at the moment of writing. Spot volume stood at $56.25 Million. That made futures volume about eight times spot volume, per CoinGlass.
