Cardano has performed poorly in recent days. Due to fierce competition from Solana, it is difficult for digital assets to maintain their position in the market. This has translated into a fall in the price of ADA, leading the market to speculate where the asset value might go. The founder Charles Hoskinson solved these speculations on YouTube.
Hoskinson, who recently returned from a trip to Africa, took his YouTube channel Address the community on the go and the future of blockchain. As usual, the founders usually answer questions from viewers during the live broadcast on YouTube. In the latest episode, some users asked Solana about price speculation when he flipped Cardano.
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Everyone will become a millionaire
The question about the value of ADA seemed to touch the nerves of the founder, who questioned the identity of the user behind the problem. Hoskinson said that there is a problem with the way the market perceives value, which does not mean good news for the future. He pointed out that things like NFTs are being sold at crazy prices, saying that the market is heading for hyperinflation.
ADA price trending above $2 | Source: ADAUSD on TradingView.com
The founder explained that accumulating money does not provide real meaning or purpose in one’s life, but added that everyone will soon become a millionaire. Not because the value of digital assets is rising, but because of hyperinflation, which may erode the market. “As we get closer and closer to hyperinflation, it used to be millions, then billions, and now trillions,” Hoskinson said. “Each of you will soon become a millionaire.”
However, the mathematician did not end there. He pointed out that the value of things is subjective and asked why so many people care about the price of ADA. For a blockchain like Cardano, it is really all about technology. “Why do you care?” Hoskinson asked during the meeting. “The entire definition of the value of things is worth trying.”
Africa is good for Cardano
Charles Hoskinson introduced his just-concluded trip to Africa to the community, providing an overall opportunity for the project and blockchain technology in the African continent. The founder will call the one-month trip a “worthy” “super-organizational challenge”.
Hoskinson shifted the focus to the Africa Fund, revealing that some announcements are in preparation.
“We have brought in some partners. I think it will eventually be bigger than expected. We will be able to make a lot of major investments in Africa, both in infrastructure and in encryption, to reconcile the two and ask questions. “
Featured image from Blockchain News, chart from TradingView.com