ADA’s Rollercoaster: Will Fraud Claims Sink the Ship or Set Sail? 🚢💰

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  • Well, it seems our dear Charles Hoskinson, the captain of the Cardano ship, is under the microscope as some sharp-eyed analysts are hollering about a grand ADA fraud. 🕵️‍♂️
  • But fear not, for the ADA price is strutting its stuff, buoyed by a flock of institutional investors who seem to have taken a liking to this digital darling. 💃

Now, let me tell you, the price of Cardano (ADA) has been dancing along with the rest of the altcoin gang, all while we await the much-anticipated altseason. This hefty altcoin, boasting a fully diluted valuation of a whopping $33 billion and a daily trading volume that would make your head spin at about $854 million, took a little tumble of around 10 percent over the past week, landing at about $0.74 on a fine Monday evening in North America.

Yet, like a phoenix rising from the ashes, ADA has been on a recovery spree these past few weeks, much like its pals Bitcoin (BTC) and Ethereum (ETH). On-chain data is showing a surge of capital flowing into crypto investments, likely spurred by the swirling winds of geopolitical and economic uncertainty. 🌪️

Charles Hoskinson: The Man, The Myth, The Allegations

Our Cardano network finds itself tiptoeing on thin ice, as some on-chain sleuths suggest that our dear founder, Charles Hoskinson, may have been playing a bit fast and loose with the trust. According to one Masato Alexander, an NFT artist with a flair for the dramatic, Hoskinson allegedly pulled a fast one during the 2021 Allegra hard fork, snatching control of a staggering 318 million ADA coins. 😲

Alexander claims that Hoskinson pulled the wool over the eyes of early investors by using Genesis keys to rewrite the Cardano ledger, redirecting unclaimed tokens from the 2017 Initial Coin Offering (ICO) straight into Cardano’s reserves without so much as a “by your leave” from the community.

“From the data we have, we know that a significant sum, totaling 318,200,635,000,000 Lovelace, which translates to 318,200,635 ADA, departed from our active set. These UTxOs, residing in 465 distinct addresses, played their part, however brief or long, in the immutable story of Cardano,” Alexander noted, sounding quite the alarm. 🔔

Despite the top brass at Cardano, including Hoskinson himself, denying these allegations, an on-chain investigation is on the horizon, set to unfold in the coming weeks. 🕰️

What Lies Ahead for ADA Price?

In the daily timeframe, ADA has been establishing a rising trend, much like a determined tortoise in a race. After breaking free from a macro-falling wedge pattern back in April, ADA has been gaining bullish momentum, marked by higher highs and higher lows. 🐢💨


In the four-hour timeframe, ADA has crafted a falling symmetrical parallel channel, which looks like a continuation pattern. If it can manage to close consistently above the upper border of this falling channel, we might just be setting sail for a fresh rally, aiming for a short-term target of about $1.14. Anchors aweigh! ⚓

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2025-05-20 03:28