Cardano ADA: Hoskinson’s Audit Report Sparks Price Surge Amid Scandal – Bullish Momentum Ahead?
Cardano's price has experienced a notable surge, climbing 4.5% to $0.8939 following founder Charles Hoskinson's announcement of an impending audit report addressing embezzlement allegations. The report, which will be livestreamed by Hoskinson, aims to refute claims that Input Output misappropriated 318 million ADA during the 2021 Allegra hard fork. This development comes amid a broader bullish trend for Cardano, with the cryptocurrency gaining 17% this week and 53% over the past month. The audit's release could potentially serve as a catalyst for further price appreciation, as market participants weigh the implications of the scandal and the subsequent transparency measures. With Hoskinson's proactive approach to addressing these allegations, the Cardano community remains optimistic about the project's long-term prospects, viewing the current situation as a possible bullish setup in disguise.
Cardano Price Prediction: Hoskinson Preps Explosive Audit Amid $600M Scandal – Could This Be a Bullish Setup in Disguise?
Cardano's price surged 4.5% to $0.8939 as founder Charles Hoskinson announced the imminent release of an audit report addressing embezzlement allegations. The report, to be livestreamed by Hoskinson, refutes claims that Input Output misappropriated 318 million ADA during the 2021 Allegra hard fork.
The cryptocurrency has gained 17% this week and 53% over the past month, with the resolution of the scandal potentially fueling further upside. Market participants view the audit as a critical step toward restoring confidence in the platform, which continues to demonstrate robust development activity.
NFT artist Masato Alexander previously alleged that Hoskinson unilaterally modified the Cardano ledger to control ₳318m ($619m), drawing comparisons to Ethereum's 2016 DAO hack. The forthcoming audit aims to provide definitive clarity on these claims.
Cardano (ADA) Faces Downward Pressure Amid $34 Million Liquidation Threat
Cardano's ADA token has retreated to $0.86 after nearing $0.93, testing fragile support levels. The digital asset now faces significant downside risk from a $34 million liquidation cluster below $0.749, where Leveraged long positions could trigger automated sell-offs if breached.
Market structure appears precarious as profit-taking signals emerge alongside weakening momentum. The concentration of long liquidations represents a critical fault line - a break below $0.749 may cascade into deeper support tests at $0.728 or $0.687. Such liquidation clusters often precede accelerated declines when overleveraged positions unwind.
Cardano Founder Hoskinson Clashes with Whale Over IOG Funding Criticism
Charles Hoskinson, founder of Cardano, issued a fiery rebuttal during a 14-minute livestream addressing criticism from a prominent ADA whale. The anonymous critic, operating under the alias "Generic Rational," vowed to reject all future funding requests from Input Output Global (IOG), Cardano's founding engineering firm, accusing the team of chronic underdelivery.
Hoskinson dismissed the claims as "ego-driven" and lacking factual basis, highlighting Cardano's recent achievements including the Voltaire upgrade, Genesis Keys implementation, and the development of on-chain governance. He pointed to technical milestones like Hydra's maturation and Leios' launch as evidence of IOG's productivity.
The dispute centers on the whale's warning that liquidating $100 million in ADA to create a sovereign wealth fund could destabilize the token's price. Hoskinson countered by noting Cardano's robust market liquidity, with daily trading volumes exceeding $2.5 billion across spot and derivatives markets.
Cardano Surges to Multi-Week Highs as Bulls Target $10 Amid Institutional Interest
Cardano (ADA) has emerged as one of the top-performing assets among large-cap cryptocurrencies, rallying 62% over the past month as it tests the psychologically important $1 level. The surge comes alongside a 20% spike in trading volume, now representing 8% of ADA's total market capitalization—a clear signal of growing retail and institutional participation.
Market sentiment has turned decisively bullish, with the Fear and Greed Index climbing to 67. Open interest in ADA futures contracts has reached a record $1.7 billion, surpassing September 2021's peak by $200 million. This renewed enthusiasm follows the passage of the Genius and Clarity Acts in the U.S., which has improved regulatory clarity for digital assets.
The ecosystem received another boost with CardanoKit's integration into Apple's iOS environment, potentially enabling direct ADA purchases through Apple Pay. "This marks a watershed moment for mainstream adoption," industry observers note, as the protocol bridges the gap between decentralized finance and consumer tech giants.
