Charles Hoskinson recently indicated that cryptocurrencies may have entered a bear market
Founder of Cardan Charles Hoskinson responded to an individual’s claims that he lost 7,000 euros ($7,469) after buying Cardano. Twitter user ‘DAhodling’ had drawn the Cardano founder’s attention to a post based on recent comments by European Central Bank President Christine Lagarde who said cryptocurrencies were worthless.
“My very humble assessment is that it is worth nothing,” Lagarde stated of crypto in an appearance on the Dutch talk show “College Tour” on Sunday. According to News Outlet CNBC, one member of the audience claimed they lost 7,000 euros ($7,469) after purchasing Cardano, to which Lagarde remarked, “That hurts.”
Cryptocurrencies have fallen this year, with Bitcoin losing more than half its value since its all-time high in November. Cardano, the seventh-largest cryptocurrency by market cap, remains down 82.34% from its all-time high of nearly $3 hit in September 2021. ADA, like the rest of the market, has undervalued performed since the start of 2022, losing more than 59% since January.
Charles Hoskinson recently indicated that cryptocurrencies may have entered a bear market when a user inquired about the underperformance of the ADA coin. At the time of publication, ADA was trading at $0.544, up slightly from the previous day.
Cardano’s Yoroi Wallet Receives CIP-30 Upgrade
As reported by Emurgo, Cardano’s trading arm, Yoroi Wallet, has achieved full compatibility with CIP 30. Cardano’s enhancement proposal, CIP-30, provides a web-based communication bridge that enables Cardano wallets to communicate with dApps of web page. By connecting Cardano dApps to new and existing users of the Cardano wallet, this aims to foster the development of Cardano Web3 dApps and more efficient onboarding of dApp users.
Because Cardano dApps will be able to communicate more readily with Cardano wallet types, the Cardano Web3 ecosystem, which includes Cardano-based NFT and DeFi dApps, might benefit from a better user experience.
