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- Charles Hoskinson disputes Ben Armstrong’s claim that ADA is a “dead” investment.
- Analyst Captain Faibik predicts a 70% rally for ADA after a confirmed breakout.
Ben Armstrong recently spoke on X, asserting that for institutional investors, both DOT and ADA are “dead.” Armstrong argued that this would finally cause their downfall as respectable investments.
He added that although the gains would probably be low relative to other assets, this does not imply they will not pump and give investors rewards during strong times.
Hoskinson’s Response
Cardano founder Charles Hoskinson voiced his dismay at Armstrong’s stance. He underlined the Cardano blockchain’s achievements and possibilities. In a recent tweet, he stated:
“I remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance.”
Previously, Hoskinson turned down Armstrong’s invitation for a conversation, saying that more conversation on ADA’s future is useless when one thinks it is hopeless.
Conversely, popular analyst Captain Faibik sees ADA as having strong bullish rally potential. Following ADA’s price breaking out from the upper limit of its Falling Wedge pattern on the daily chart, he projects a 70% gain. The breakout was confirmed after a protracted period of consolidation.
$ADA Falling Wedge Breakout is finally Confirmed after long Consolidation..✅
Expecting +70% Bullish Rally in Coming days..📈#Crypto #ADA #Cardano #ADAUSDT pic.twitter.com/MO5pTnOkZh
— Captain Faibik (@CryptoFaibik) July 2, 2024
Current ADA Price Performance
At the time of writing, ADA’s price is roughly $0,3813, according to CoinMarketCap; it dropped by 6.25% over the last 24 hours. The breakout and the optimistic trend could indicate possible future positive movement even with the current decline.
On the other hand, CNF has previously highlighted recent Cardano updates, including notable core technological improvements and performance benchmarks. These improvements seek to improve the general capacity and efficiency of the Cardano blockchain, thereby guaranteeing its competitiveness and strength.
