This week, Cardano founder Charles Hoskinson issued a categorical denial of rumors about his alleged departure from the project. In an official video address, he called these claims absolute fiction and urged the community to spread truthful information.
According to Hoskinson, the disinformation is spread through clickbait videos where authors use quotes taken out of context and create emotional clips to gather likes. Moreover, the lies have spread far beyond the internet: one London taxi driver seriously told passengers about an imminent change in leadership, and project partners received similar data up to the CEO level.
"This is categorically not true. This is a complete lie. This is a fabrication from start to finish," Hoskinson stated.
Notably, the denial came during a difficult period for the ecosystem. At the time of writing, ADA is trading around $0.16, approximately 94% below its all-time high of $3.09 in 2021. The network has also faced a governance crisis, and investor Justin Bons publicly called for Hoskinson to step down, triggering a strong reaction from the community.
However, not all news was negative. This month has seen an increase in the number of Cardano wallets, despite ADA failing to hold above local lows. Hoskinson also proposed governance reforms to restore trust in the project.
General State of the Altcoin Market
Cardano's problems reflect the overall stagnation of the alternative cryptocurrency segment. Bitcoin dominance remains steady at around 58%, testing a key support level formed back in August 2025. The altcoin season index is currently at 45, and for a full trend reversal, this indicator needs to exceed the 75-point threshold. The fear and greed index continues to indicate a predominance of panic sentiment among investors.
My analysis: The spread of such rumors is a classic example of FUD, which can be used by unscrupulous players to manipulate the price. Hoskinson remains a key figure for Cardano, and his public denial should reassure long-term holders. However, until BTC dominance drops below 55.5%, it is premature to expect a full altcoin season. The market is currently consolidating, and fundamental reforms are the only way for ADA to regain trust and capital.