BitMEX CEO Arthur Hayes criticized Cardano, referring to it as ‘dog shit’, expressing disdain for the ecosystem during a period of decline in ADA’s price.
BitMEX co-founder Arthur Hayes didn’t hold back, describing Cardano (ADA) as “dog shit” in a recent social media post. The comment sparked a conversation between Hayes and Cardano founder Charles Hoskinson, drawing attention from the ADA community amidst concerns about the cryptocurrency’s performance.
Arthur Hayes’ Critique of Cardano Sparks Debate
Arthur Hayes recently took to social media to draw attention to the dominance of decentralized applications (dApps) like Lido Finance and Uniswap in fee acquisition. In his post, Hayes questioned why Cardano-based dApps were absent from the list, challenging ADA supporters to address this discrepancy. He criticized the Cardano platform for its lack of impactful dApps and ultimately concluded that Cardano is “dog shit,” prompting reactions from the crypto community. While some ADA supporters criticized Hayes’ comments, Cardano founder Charles Hoskinson responded diplomatically.
Hoskinson’s response to Hayes’ criticism remained polite, prompting further clarification from Hayes regarding his stance on Cardano. This exchange followed Hayes’ previous negative remarks about Cardano in a recent interview, where he referred to it as a “piece of shit” and criticized its price action. Despite their differing views on Cardano, both Hayes and Hoskinson maintained a positive tone in their personal interactions, with Hayes continuing to express his disdain for ADA.
Mixed Sentiments Surrounding Cardano’s Performance
Despite experiencing sluggish performance in the current market, Cardano (ADA) has shown resilience in recent times. Over the past seven days, ADA has managed to gain over 8%, showcasing its ability to withstand extreme volatility and significant pullbacks. Moreover, the cryptocurrency has surged by 15% in the last 30 days.
In a recent interview with Coin Bureau, Arthur Hayes expressed strong disdain toward Cardano, even predicting its eventual decline to “zero.” This critical assessment from the BitMEX co-founder comes amid ongoing discussions about Cardano’s future prospects and market performance.
As of the latest update, the ADA price has experienced a decline of 4.06%, falling to $0.5977 on Wednesday, February 21. Despite this setback, ADA maintains a substantial market capitalization of $21.21 billion, indicating its significant presence in the crypto market. Additionally, the ADA trade volume has seen a slight increase of 1.94%, reaching $721.40 million in the last 24 hours. These fluctuations reflect the dynamic nature of the cryptocurrency market and the various factors influencing ADA’s price movements.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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