Charles Hoskinson returns, calming fears with a video update; ADA price rebounds 3.54% after a brief market dip.
Cardano's Conway hard fork set for Sept. 1; first transaction live as community anticipates major governance updates.
Cardano whales show strong confidence; large holder activity rises amid ADA’s price stabilization following Hoskinson's return.
Charles Hoskinson, the founder of Cardano, has reappeared to calm the fears and speculation of many people. He had kept silent for so long; hence, several speculations concerning his absence had arisen among the crypto community, fearing the worst due to some high-risk expeditions he is known to undertake. He took to addressing these rumors head-on—having been at least clarifying his situation to assure his followers of his well-being.
https://twitter.com/IOHK_Charles/status/1828987782888374281
His latest posts stated that he had been on Denali Mountain, specifically at the Sheldon Chalet. He dismissed rumors with a light-hearted comment: "The reports of my death are greatly exaggerated." This statement, combined with a video update, has calmed the nerves of many, clearing confusion on the street amidst continuous updates from within the Cardano ecosystem.
Cardano's Upcoming Hard Fork and Community Governance
Development in the Cardano ecosystem did not stop with Charles Hoskinson on a brief break recently. After facing a delay, the much-awaited Charles Hoskinson-led Cardano network's Conway hard fork has finally been scheduled to go live on September 1. Samuel Leathers, head of product for core tech at IOG, wrote that the first transaction had already taken place, signaling how to implement it.
This will now serve as the basis for a number of future updates, including one that adds community governance—the upcoming Chang hard fork. The IOG and its developers have consistently emphasized the need for community involvement in protocol improvements. The switch to the Chang hard fork will place this ability directly in the hands of the community, further increasing their role within the Cardano network's decision-making space.
This active engagement from Hoskinson in addressing these updates has only gone further to build confidence among investors and stakeholders, representing an ecosystem committed to transparency and community involvement.
ADA Price Stabilizes as Hoskinson Returns
The reaction of the market sentiments towards Cardano after Charles Hoskinson reappeared has been quite visible. The price of Cardano (ADA) seems to have stabilized since his return—undoing the downward trend that had set in during his absence. ADA, which was 1.5% down in the last 24 hours, started recovering with a rise of 3.54% seconds after Hoskinson's re-engagement on social media.
Coming back at the time when the market is set to undergo the Conway upgrade and the general anticipation of the Chang hard fork, both likely to positively affect ADA, this new activity and the founder's reassurances may have a lot to do with a change in the recent pessimistic forecasts for the cryptocurrency.
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