Cardano (ADA) price is showing signs of stabilization following the reappearance of its founder Charles Hoskinson after several days of absence. This news, coupled with the impending Chang update, could ease recent concerns and potentially reverse the crypto’s bearish trend.
End of the mystery: Hoskinson reappears and reassures the community
Charles Hoskinson, the founder of Cardano, put an end to the speculation by posting a video on Twitter on August 29. In this intervention, he claims to be in good health and denies any worrying disappearance. The reports of my death are greatly exaggerated. I was on Mount Denali at the Sheldon Cabin. “, he said, brushing aside the rumors that had fueled uncertainty in recent days.
This temporary absence from social networks, unusual for this generally very active leader, had coincided with the postponement of the Chang hard fork to September 1, thus amplifying the concerns of the crypto community.
Following this newthe ADA price is showing signs of recovery. The 1.5% drop seen over the previous 24 hours seems to have stabilized, and the pessimistic forecast of a further 10% drop could be revised upwards. At the time of writing, ADA is up 3.54% over 24 hours.
Whales maintain their confidence
Cardano whale activity remains strong, confirming the confidence of large investors. Data from Santiment shows a steady increase in activity from wallets holding more than $100,000 worth of ADA since August 24, despite recent price fluctuations.
IntoTheBlock confirms this trend, with a positive net flow from large holders between August 25 and 28. This activity could signal either opportunistic purchases in anticipation of a rebound or a strategic repositioning of portfolios.
The number of active addresses on the Cardano network remains high, with a 49% increase in 24 hours, reaching 36,184, a monthly record. This increase, combined with Hoskinson’s return, could indicate renewed confidence in the Cardano ecosystem.
The Cardano community can now focus on the Chang update scheduled for September 1. The return of Charles Hoskinson and the expected success of this update could be the catalysts for a recovery in the ADA price in the coming days.
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