Cardano Founder Reaction to ADA “Biggest Loser” Tag on CMC

Cardano Founder Reacts to ADA "Biggest Loser" Tag

Cardano founder -Charles Hoskinson has recently reacted to  CoinMarketCap (CMC) claim of ADA as “biggest loser.”

In a yesterday’s tweet, Hoskinson shared a screenshot of CMC data listing of  top 10 crypto assets by market capitalization. As per the data, ADA was tagged “the biggest loser” over the past 24 hours, following its 1.58% price decline.

Interestingly, Hoskinson drew attention to the fact that ADA was not supposed to be the biggest loser on the chart.

According to the data, Solana (SOL), which ranked ahead of ADA in market valuation, also suffered a price decline of 3.91%. In reaction, Hoskinson questioned the mistake in the data, as he believes 3.91 is larger than 1.58

Notably, his remark suggested that SOL was to be tagged as the biggest loser in the data due to its 3.91% price decline instead of ADA, which incurred a 24-hour loss of 1.58%.

ADA Community Reacts

Top ADA enthusiasts have aired their grievances while reacting to the CMC data.

A user pointed out that CMC could be referring to the crypto asset that has plunged the most from its previous all-time high. However, Hoskinson refused to share the same sentiment. He asserted that all top 20 cryptos have also fallen in many cases.

According to Coinmarketcap data, ADA did hit an all-time high of $3.1 on September 2, 2021, but has plunged 92.07% from its ATH to $0.2462.

ADA Current Price Chart

On the other hand, SOL is down 91.85% from its ATH of $260.06. At the time of writing this line, SOL was trading at $21.38 per token.

ADA Vs SOL

It’s worth mentioning that the Cardano and Solana communities have been at rivalry for over a year now. The feud became more evident last year after Anatoly Yakovenko, Solana’s co-founder, shaded Cardano’s developers for being too careful with releasing upgrades.

Also read: Cardano Founder Clears ETHGate Corruption Accusations: No SEC Bribery Evidence

He noted that Cardano developers’ commitment to correctness would impede the team’s chances of delivering it’s romises.

In return, Hoskinson took a swipe at Solana, comparing the network to an old Nintendo console that requires repair. This comment came after Solana experienced a major network outage.

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