Cardano ecosystem founder Charles Hoskinson has issued a categorical denial of rumors about his possible departure from the project. In a recent video message published this week, he called such claims absolute fiction, emphasizing that the information has no basis whatsoever.
According to Hoskinson, those spreading disinformation are using quotes taken out of context and creating emotional videos to collect likes, baselessly claiming that the founder considers Cardano a failed project. This falsehood has gained unexpectedly wide circulation: one London taxi driver, according to Hoskinson, was seriously telling passengers about an imminent change in leadership. Similar reports even reached CEOs of major partner organizations.
"This is categorically untrue. It is a complete lie. It is a fabrication from start to finish," Hoskinson stated, urging supporters to share his video with those repeating these rumors.
A Difficult Period for Cardano
The denial came during a rather challenging period for the project. At the time of writing, the ADA price is under serious pressure, trading around $0.16, approximately 94% below the historical peak of 2021 when the price reached $3.09. The network has also faced a governance crisis: investor Justin Bons called for Hoskinson to step down, which provoked a harsh reaction from the community.
However, not all news is negative. This month has seen growth in the number of Cardano wallets, despite ADA failing to hold above local lows. Hoskinson has also proposed governance reforms to restore trust in the project.
General State of the Altcoin Market
Cardano's problems reflect the overall stagnation in the alternative cryptocurrency segment. The altcoin sector is still unable to break free from the total influence of the market's flagship. Bitcoin dominance remains steady at around 58%, testing an important support level formed back in August 2025. The popular altcoin season index is currently at 45, while 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 among investors.
Cryptalist analytical commentary: Rumors about Hoskinson's departure are a classic example of FUD, actively used to manipulate the ADA price amid overall market weakness. However, fundamental network indicators, such as the growth in wallet numbers, suggest that the community still believes in the project. The key signal for a reversal will be a drop in Bitcoin dominance below 55.5% — only then will we see a true altcoin season, and Cardano will be able to attract the attention of major investors again.