Has Charles Hoskinson Abandoned Cardano?

The rumors of Cardano (ADA) founder Charles Hoskinson leaving the blockchain have filtered into the broader cryptocurrency community. The speculations arose as some Cardano community members expressed worry over consistent posts from Hoskinson on the Midnight project.

This has raised concerns that Hoskinson might be losing interest in Cardano and pivoting to Midnight, a new blockchain project under Input Output (IOHK).

Hoskinson’s Focus on Midnight Sparks Speculation

A post on X written by a crypto analyst, Rex Liu has been reposted by Hoskinson. Liu’s post clarifies the situation and appears targeted at calming the Cardano community that the founder has not ‘abandoned’ it for a new project.

According to Liu, 60% of Hoskinson’s posts on X have been about Midnight in the last six months. Out of the remaining 40%, Hoskinson has devoted about 25% exclusively to Cardano. This has covered governance systems, scalability updates and other community topics. The other 15% discusses the interconnectivity of Cardano and Midnight.

Liu is suggesting that Hoskinson remains devoted to Cardano. Notably, Midnight’s tools run on Cardano’s infrastructure like Hydra and indicate that the project is not separate from Cardano. Rather, it is built on top of it to strengthen the Cardano ecosystem.

Midnight’s Role in Strengthening Cardano’s Ecosystem 

Liu explains that Midnight is meant to complement Cardano as a privacy-focused sidechain, not a competitor. He also suggested that Cardano is growing as the number of new wallet addresses indicate that Midnight development could be contributing to that growth.

The crypto analysts insist that members of the Cardano community should rather focus on the ecosystem challenges that Hoskinson would solve with Midnight. Liu hinted at possible solutions in bridging practical gaps in stablecoins and Cardano Native Token support.

He believes these could strengthen the long-term viability of Cardano. The post was reposted by Charles Hoskinson, which signals that he aligns with the leaning of the analyst.

Cardano’s Price Struggles to Make a Comeback

Meanwhile, in the crypto market, after one month of intense volatility, Cardano is struggling to climb. In the last 24 hours, the asset has gained 1.25% and exchanges hands at $0.5728. It climbed from a low of $0.5495 to hit $0.5754 before settling at the current price.

Its trading volume remains low by 48.8% at $627.74 million despite the slight uptick.