Cardano blockchain platform founder Charles Hoskinson has issued a categorical denial of rumors about his possible departure from the project. In a special video message published this week, he called such claims an absolute fabrication.
According to Hoskinson, authors of clickbait videos use quotes taken out of context and create emotional clips to collect likes. They baselessly claim that the founder considers Cardano a failed project.
The rumors have spread unexpectedly widely beyond the internet. For example, one London taxi driver, according to Hoskinson, was seriously telling his passengers about an imminent change in the project's leadership. Representatives of partner companies have encountered similar misinformation. As a result, false information has even reached the level of CEOs of major partner organizations.
"This is categorically untrue. This is a complete lie. This is a fabrication from start to finish," Hoskinson noted.
The project founder asked supporters to share his video with those repeating these rumors. According to him, the clip confirms his active involvement in the development of the ecosystem.
A challenging period for Cardano
The denial comes during a rather difficult period for the project. As of today, the ADA exchange rate is under significant pressure. At the time of writing the review, the coin is trading around $0.16, approximately 94% below the 2021 all-time high 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 strong reaction from the community.
However, not all news has been negative. This month has seen an increase 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 still cannot break free from the total influence of the market leader. Bitcoin dominance remains stable at around 58%, testing an important support level formed back in August 2025.
Additionally, the popular altcoin season index is currently at 45. Let me remind you that for a full trend reversal, this indicator must exceed the 75-point threshold. For now, the overall fear and greed index continues to indicate a predominance of panic sentiment among investors.
For most of 2026, the main financial flows have been concentrated exclusively in Bitcoin and Ethereum. According to leading analysts, for a full-fledged start of a new altcoin season, the dominance index of the first cryptocurrency must drop below the 55.5% mark.
Expert opinion: The market is currently experiencing a phase of extreme fear, which historically often precedes a reversal. However, for Cardano, the key factor remains not so much the price of ADA, but the team's ability to implement the proposed governance reforms and restore the trust of institutional partners. Without this, even favorable market conditions do not guarantee a recovery of positions.