A few days ago, it emerged that IOHK and Emurgo were cutting ties with the Cardano foundation. This created fear in the community that this could negatively impact on the value of Cardano. However, Charles Hoskinson has clarified the issue, and it is clear that this whole drama will have no impact on the long-term growth of Cardano (ADA).
According to Charles, the three institutions tasked with the development of Cardano (ADA) are all autonomous. They were set up this way to forestall issues such as those that have arisen with the Cardano foundation. As such, even after cutting ties with the Cardano foundation, developments on ADA will not be affected in any way. Charles Hoskinson also points out that even after cutting ties with the Cardano foundation, Emurgo and IOHK can comfortably handle the functions that the foundation was tasked to do. The key role of the foundation is to publicize the Cardano project, and according to Charles, it’s a role they can handle comfortably. To quote him,
From this statement, it is clear that Charles is really committed to the Cardano project and truly wants it to succeed. It is this passion that has got Cardano to where it is, and it the one that will take Cardano to even greater heights going into the future. Charles has been passionately championing for the Cardano project since the beginning. For instance, he has engaged with the Mongolian government on creating a regulatory framework for ICOs in the country. He has also engaged with several African governments on issues to do with the adoption of blockchain technology in governance. This is the kind of passion that will drive Cardano forward. Actually, now that Charles and his team are willing to take up the tasks of the foundation, then things will move even faster for Cardano (ADA. This could lead to a faster growth of the Cardano (ADA) price going into the future.
Looking at Cardano’s price action in the day, it has shot up slightly, driven mainly by the bitcoin (BTC) pump that hit the markets earlier in the day. It has since stabilized at around $0.074. Long-term, Cardano has the fundamentals to hit a trillion dollar market cap. Several reasons support this possibility. First, it is building one of the most technically superior projects in the market. By taking a scientific approach to the project, the Cardano (ADA) team has created a highly scalable project that can be used in building all kinds of applications across industries. Secondly, through the strategic moves that the Cardano team has been making in government circles, it could become the blockchain that governments use in enhancing operational efficiency. The team behind this crypto has also proven to be skilled, passionate and professional enough to see ADA make it to such great heights. Clearly, ADA is highly undervalued at current prices, when one factors in its fundamentals.