Cardano Lost 8% as Hoskinson Says He Never Promised Price Gains
Cardano (ADA) price plunged 7.99% in 24 hours to $0.150, falling more than Bitcoin and the broader crypto market, driven by a broad market selloff and amplified selling pressure.
Investors’ losses widened amid a significant downtrend in the cryptocurrency market; Bitcoin, Ethereum, Binance Coin, and Ripple XRP, among other top digital assets, posted steep individual price declines.
Broad crypto weakness, outflows, rate concerns weighing on sentiment, and forced liquidations added selling pressure. ADA’s 7.99% drop was steeper than Bitcoin’s 4.81% decline and the crypto market’s roughly 4.4% fall, so it moved with the market but underperformed.
Reports point to seven consecutive days of U.S. spot Bitcoin ETF outflows through November 13, rising expectations of a December Fed rate hike, and heavy forced selling in leveraged positions as pressures on crypto overall.
Traders said this looks primarily market-driven, with ADA’s larger decline showing its greater downside sensitivity—not proof of a new Cardano-specific problem. Some holders criticised recent coverage of Charles Hoskinson’s remarks that his original roadmap work is complete.
In a livestream on 13 November, founder Charles Hoskinson said Input Output’s engineering work on Cardano’s original roadmap was complete, clarifying that he was not abandoning the ecosystem.
On 15 November, he also said he never promised ADA price gains. The remarks landed as ADA traded at $0.150, down 8% over 24 hours and 17% over seven days.
This is mixed for ADA: completed infrastructure and on-chain governance support the decentralisation case, but they do not guarantee adoption or token appreciation. The gap between technical progress and holders’ price expectations remains a concern.
ADA’s daily technical indicators remain weak: price is below its 7-day average of $0.170, while the reported swing low is $0.14445. If ADA holds above $0.14445, it could retest the $0.15353 pivot; a break below risks revisiting the reported $0.1429 intraday low.
A BTC recovery above $67,800–$68,000 would strengthen the rebound case. Downside pressure remains unless ADA stabilises and the broader market recovers.
ADA’s $0.14445 level and Bitcoin’s $67,800–$68,000 zone over the next 24–48 hours. The broad selloff is the clearest explanation, while Cardano-specific criticism may have added uncertainty but is not proven to be a major driver. Bitcoin Falls to $67K as U.S. Yields Rise, Dollar Strengthens
