Arthur Hayes Labels Cardano as โDog Shitโ in a Fiery Exchange with Charles Hoskinson
Recently, Arthur Hayes, co-founder of BitMEX, sparked controversy in the crypto community by criticizing Cardano (ADA) and calling it โdog shitโ in a social media post. This remark led to a conversation between Hayes and Cardano founder Charles Hoskinson, where Hoskinson sought clarification on the criticism. Although the clash wasnโt significant, it caught the attention of ADA supporters.
Hayes Questions Cardanoโs dApp Dominance
In his post, Hayes shared a screenshot showing the dominance of decentralized applications (dApps) like Lido Finance and Uniswap in fee acquisition. He raised questions about the absence of Cardano-based dApps on the list and challenged ADA believers to provide evidence of impactful dApps on the platform.
Hayes concluded his post by bluntly stating that Cardano is โdog shitโ and directed his questions to Hoskinson for further clarification. This contentious comment triggered a debate within the crypto community, with ADA supporters criticizing Hayesโ remarks while Hoskinson responded politely.
ADA Price Performance
Despite facing volatility and significant pullbacks, Cardano has performed relatively well in recent times. The ADA price has seen an 8% increase over the past seven days and a 15% surge in the last 30 days. However, during an interview with Coin Bureau, Hayes expressed his dislike for Cardano and predicted its value would eventually reach zero.
As of writing, the ADA price experienced a 4.06% slump to $0.5977 on February 21st. The cryptocurrency currently holds a market cap of $21.21 billion, while its trade volume increased by 1.94% to $721.40 million in the last 24 hours. The Cardano price hit a low of $0.593, further distancing itself from the $0.60 mark. Additionally, it has lost 81% of its all-time high value of $3.10 reached in September 2021.
Hot Take: A Clash of Opinions Creates Waves in the ADA Community
The fiery exchange between Arthur Hayes and Charles Hoskinson has sparked discussions among ADA supporters. While Hayes heavily criticized Cardano, questioning its dApp dominance, Hoskinson responded calmly to seek clarification. As a crypto enthusiast, itโs important to engage in healthy debates and evaluate different perspectives to gain a comprehensive understanding of the industry.
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