Tuur Demeester Slams Cardano Founder: “Classic Projection”

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As an analyst with years of experience in the cryptocurrency market, I find myself intrigued by the ongoing spat between Tuur Demeester and Charles Hoskinson. While I respect both for their contributions to the industry, it’s important to analyze the facts objectively.

Tuur Demeester, one of the most vocal Bitcoin proponents, recently took a jab at Cardano founder Charles Hoskinson after the latter’s comments triggered strong backlash within the community behind the largest cryptocurrency. 

In a recently popularized online video, Hoskinson expressed criticism towards Bitcoin, stating that the field might not fundamentally require it.

In the future, another form of digital gold might appear, potentially offering enhanced security compared to Bitcoin.

Cardano’s founder, Hoskinson, compared Bitcoin to Windows, noting that while it initially led the market, it struggled to keep pace with the rapid adoption rates of iOS and Android. Even though Bitcoin may retain a significant portion of its user base (wallet share), it could potentially lose ground in terms of capturing attention and driving innovation.

As a crypto investor, I’ve taken note of the prediction made by the Cardano founder suggesting that Bitcoin could gradually fade away if it fails to embrace innovation.

Is Cardano fading into irrelevance? 

Instead, Demeester highlighted a significant drop in Cardano’s dominance relative to Bitcoin over the last three years. Specifically, its market share plummeted from holding 10% of Bitcoin’s market cap to just 1% during that timeframe.

Cardano has fallen out of the Top 10 on CoinMarketCap, a position it previously held amongst the major cryptocurrencies like Bitcoin and Ethereum.

Currently, ADA has dropped significantly by approximately 89.2%, compared to its all-time high which it reached in September 2021.

According to U.Today’s report, despite the successful launch of the highly anticipated Chang project, which focuses on decentralized governance, there was no significant surge in the price of ADA.

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2024-09-02 21:54