u.today
Tuur Demeester, one of the most vocal Bitcoin proponents, recently took a jab at Cardano founder Charles Hoskinson after the latter's comments triggered strong backlash within the community behind the largest cryptocurrency.
In a recent video, which has gained traction on social media, Hoskinson spoke disparagingly about Bitcoin, arguing that the industry does not actually need it.
He predicted that another digital gold could emerge in the future, and it could be even more secure than Bitcoin.
Hoskinson drew parallels between Bitcoin and Windows, which failed to catch up with the adoption rates of iOS and Android. While the largest cryptocurrency might not lose the wallet share, it could still lose attention and innovation.
The Cardano founder predicted that Bitcoin might end up dying a slow death if it refuses to innovate.
Is Cardano fading into irrelevance?
However, Demeester pointed to the fact that Cardano's dominance had declined dramatically over the past three years. In fact, it went from 10% of Bitcoin's market cap to a tiny 1% over the aforementioned period of time.
Cardano has once again dropped out of the CoinMarketCap top 10 after previously being among the biggest cryptocurrencies alongside Bitcoin and Ethereum.
As of today, ADA is down a staggering 89.2% from its record peak that was achieved back in September 2021.
As reported by U.Today, the successful launch of the much-hyped Chang hard work, which brings decenralized governance, failed to result in any substantial price spike for ADA.