Cardano founder Charles Hoskinson is sending out a hopeful message to the crypto space in the wake of a brutal market crash that is causing ADA to come very close to falling out of the top 20 crypto assets.
Recently, Hoskinson took to X to respond to a frustrated Cardano fan who posted a screenshot showing ADA falling almost 10% in the last 24 hours.
“It’s all going to be ok,” said Hoskinson. “Everyone will be happy next year after all this madness, hate and idiocy.”
Cardano down 95% from ATH
The recent crypto market crash has proven to be extremely brutal for a lot of different assets, and Cardano is certainly one of the worst affected.
In recent trading, ADA has fallen all the way down to around $0.15.
At these levels, ADA is currently down around 95% from its all-time high of $3.09, which was reached in September 2021, based on data from CoinGecko.
This represents an almost complete loss of investment value for those who bought at the all-time high.
Overall, Cardano is also down around 35% in the last month and almost 60% since the start of 2026.
As a result, Cardano’s market cap has fallen all the way down to around $5.7 billion, with ADA dropping to 18th place in CoinGecko’s crypto rankings.
This is a very precarious position for the once-dominant altcoin Cardano, which is now extremely close to falling out of the top 20.
It seems as though there are a few different factors at play behind Cardano’s poor performance.
First of all, there has been a huge sell-off in the broader crypto market. Bitcoin has seen major drops, leading to more selling pressure on major altcoins.
This decline has coincided with a falling technology stock market, ongoing macroeconomic uncertainty, outflows from crypto investment products, and mass liquidations of leveraged positions.
That said, there are clearly some issues with Cardano beyond the wider market struggles.
For one, Cardano has faced a lot of criticism over the years for the blockchain’s relatively low adoption, even after years of development. This is especially evident when compared to other chains like Ethereum and Solana.
In fact, Cardano’s decentralized finance ecosystem has recently seen around $46 million in total value locked, as reported by DefiLlama.
Hoskinson lashes out against critics of Cardano
Elsewhere, Hoskinson recently found himself embroiled in another controversy surrounding Cardano’s future.
In another recent X post, Hoskinson lashed out at certain commentators who keep bashing the blockchain for its apparent lack of adoption.
He noted that critics initially claimed Cardano suffered from poor on-chain metrics, few real-world use cases and technology that no one wanted to use.
Then, when Hoskinson decided to work on developing apps that would be able to attract millions of people and billions in assets, it seemed as though those same critics began claiming he was scamming everyone.
“You people are both stupid and scum. I can’t fix stupid,” said Hoskinson. “Grow up.”
