thecryptobasic.com
Cardano founder Charles Hoskinson has expressed discontent with macroeconomic factors’ control over ADA.
Notably, Cardano and the broader cryptocurrency market have been rattled several times by certain macro factors. From tariffs to traditional bank crashes and political tensions, these have all impacted prices at one time or another.
Cardano Founder Is Fed Up
Hoskinson is growing increasingly frustrated by these developments. In his recent podcast, he said he is “tired” and wants a quick, lasting change to make Cardano less dependent on macroeconomic factors.
“I am tired of the four-year decline; I think you are too,” Hoskinson added.
Notably, ADA has failed to impress over the last four years, after hitting its all-time high of $3.10 in 2021. The altcoin has pulled back by 86.4% to its current price of $0.42. It has maintained this bearish trajectory despite being in the post-halving bullish phase in its historical four-year cycle.
While ADA rebounded 500% from the 2023 low of $0.22 to $1.32 in December 2024, it has failed to reach new all-time highs, as it has in previous cycles. Instead, it has nearly relinquished most of those gains, cutting them down to 90%.
Macro Factors as Major Decline Catalyst
Hoskinson blames this underwhelming performance on unnecessary control of macroeconomic factors on cryptocurrencies. The Cardano founder highlighted that these events dictate the market’s mode, no matter the progress Cardano makes in the innovation and institutional adoption fronts.
“(Donald) Trump tweets something, tariffs come out, or some goddamn bank that we’ve never heard of collapses, and suddenly the market goes down 20%,” he stated.
For perspective, Cardano was part of a Bitcoin-led early April crash that wiped out over a billion dollars from the cryptocurrency market in 24 hours. The heavy correction before an intensive rebound was driven by Trump’s tariff imposition on several countries.
The historical October 10 crash also followed a Trump tweet about a 100% tariff increment on Chinese goods, amid a short-lived rare-earth dispute. Cardano crashed to $0.27 on Binance before a sharp rebound to $0.70. Notably, ADA has been in a downtrend since then, correcting nearly 50% from its October 10 opening price.
Hoskinson Calls for Unity to Craft Own Path
Meanwhile, Hoskinson noted that it was time for Cardano and the broader crypto ecosystem to unite against this menace. He said it was time for them to go “their own way,” suggesting a depeg from the risk asset category.
For this to come to fruition, Hoskinson stated that the industry must unite and build independently of these external forces. He believes that doing this would prevent this uncontrolled impact on the space.