Charles Hoskinson, the founder of Cardano, has come forward to clarify persistent rumors suggesting that he sold his ADA holdings, which have raised eyebrows regarding his involvement in the altcoin’s staggering 80% price drop. In response to the speculation and social media discussions, Hoskinson vehemently denies these accusations, maintaining that he has not personally affected the decline by selling off his assets.
Cardano Founder Refutes Allegations of ADA Sales
Although it was a festive holiday season, Hoskinson faced a barrage of accusations linked to ADA’s 80% price tumble over the last four years. On December 25, the Cardano founder turned to X to share an uplifting message for 2026, urging holders and members of the community not to lose faith.
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He pointed out that even in light of recent setbacks, there is much to anticipate in 2026. He conveyed holiday wishes and expressed gratitude towards the Cardano community, highlighting individuals like @injective_pie, who has been vocal about ADA’s market performance and the blockchain’s development over the years.
While numerous respondents appreciated Hoskinson’s festive messages, @injective_pie confronted him directly, accused him of selling ADA. The community member questioned Hoskinson about liquidating his ADA when it was valued at $3, arguing that not repurchasing at lower levels around $0.3 could potentially shake trust in the crypto ecosystem.
Hoskinson quickly dismissed these accusations, affirming that he did not offload his ADA and that deceptive narratives do not change the truth. This exchange highlighted the friction between the Cardano founder and some skeptical community members, underscoring ongoing dissatisfaction with ADA’s current pricing.
Notably, investor frustration has been mounting over the years, as the cryptocurrency struggles to regain its previous highs. Since its peak in 2021, the price of Cardano has been consistently dropping, recently nearing $0.35 after an over 3% decline this week. The altcoin has plummeted by more than 50% year-to-date, reflecting the persistent challenges faced by the network despite its vibrant community backing.
Cardano’s lackluster performance is notably in stark contrast to other top cryptocurrencies, such as Bitcoin and Ethereum, which achieved new all-time highs this year. Despite its escalating daily trading volume exceeding 96%, ADA has yet to display any substantial upward traction, continuing to drift downward as the overall market faces persistent bearish trends.
ADA Price Continues to Decline As Open Interest Diminishes
In light of tepid price movements, data from Coinglass reveals that ADA Futures Open Interest (OI) fell from $1.72 billion in October 2025 to $651 million as of December 26, marking a significant decline of over 62% in just three months.
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As key fundamentals weaken and market sentiment deteriorates, additional pressure has been exerted on ADA’s pricing. On-chain analysis also indicates that Cardano’s Fear & Greed Index is at 37, firmly in the fear zone as the price continues to decline.
Image courtesy of Unsplash, chart from Tradingview.com
