Cardano founder Charles Hoskinson reacts to recent data from CoinMarketCap (CMC) referring to ADA as the “biggest loser.”
In a tweet yesterday, Hoskinson shared a screenshot of CMC data, highlighting the top 10 crypto assets by market capitalization. As per the data, ADA was ranked as the biggest loser over the past 24 hours, following its price decline of 1.58%.
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 terms of market valuation, was also down 3.91%. Reacting, Hoskinson questioned the mistake in the data, as he believes 3.91 is larger than 1.58.
“Jenny, I’m not a bright man, but isn’t 3.91 larger than 1.58? I don’t know what ‘biggest loser’ means…” Hoskinson noted.
Jenny, I'm not a bright man, but isn't 3.91 larger than 1.58? I don't know what biggest loser means… pic.twitter.com/IjFrOFomUH
— Charles Hoskinson (@IOHK_Charles) October 12, 2023
Notably, his remark suggests that SOL was supposed 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 Enthusiasts React
Meanwhile, top ADA enthusiasts have aired their grievances while reacting to the CMC data.
Biased bozos @CoinMarketCap !
How TF do you tag #Cardano as "biggest loser"? When clearly your "trending" #Solana is the biggest loser? pic.twitter.com/Hu3Wzh1NjK
— ₿en ? (@BenElferink) October 10, 2023
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.
Not even close. The other top twenty have fallen as much or more in many cases
— Charles Hoskinson (@IOHK_Charles) October 12, 2023
ADA and SOL Down Over 90% From Their ATHs
According to CMC data, ADA, which hit an all-time high of $3.1 on September 2, 2021, has plunged 92.07% from its ATH to $0.2462.
On the other hand, SOL is down 91.85% from its ATH of $260.06. At the time of writing this line, SOL was changing hands at $21.41.
Cardano vs. Solana Rivalry
It bears mentioning that the Cardano and Solana communities have been at loggerheads for over a year. The feud between the communities became more evident last year after Anatoly Yakovenko, Solana’s co-founder, shaded Cardano’s developers for being too careful with releasing upgrades.
He noted that Cardano developers’ dedication to correctness would impede the team’s chances of delivering on their promises.
Interestingly, Hoskinson took a swipe at Solana, comparing the network to an old Nintendo console that requires repair. Hoskinson made the comment after Solana experienced a major network outage.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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