Cardano Dips 4.3% Amid Founder Charles Hoskinson Exit Rumours
Cardano (ADA) price is down 4.27% to $0.1581 on Monday, underperforming a declining broader market, primarily driven by a derivatives-led leverage reset and liquidations.
ADA is facing selling pressure amid rumours of retirement by its founder, Charles Hoskinson. According to crypto traders, derivatives unwind, with bearish futures positioning and $80.03 million in liquidations amplifying the sell-off.
A sharp drop in futures Open Interest to around $389 million, along with a negative funding rate, signals that traders are exiting bullish positions.
Crypto analysts said this was compounded by $80.03 million in ADA liquidations over 24 hours, which forced leveraged positions to close and accelerated the downward move.
The market is aggressively de-risking, with derivatives flows magnifying spot price declines. A stabilisation in Open Interest and funding rates turning positive signals that selling pressure is easing.
The move aligns with a market-wide downturn. Bitcoin fell 2.4%, and the total crypto market cap dropped 1.97%, driven by profit-taking and heightened risk aversion amid resurgent U.S.-Iran hostilities.
ADA is moving with high-beta altcoins in a risk-off environment, lacking a coin-specific catalyst to decouple. Technically, ADA trades below all major exponential moving averages and shows weak momentum. Immediate support is at the $0.150 level.
The trend is bearish, and whale accumulation has not yet provided a price floor. A hotter-than-expected US inflation print could renew selling pressure across crypto, while a cooler reading might offer relief.
Cardano’s drop is a combination of a painful leverage cleanse and following a weaker Bitcoin. While whale wallets have been accumulating, it hasn’t been enough to counter derivative-driven selling.
In a video, Cardano Founder, Charles Hoskinson has clearly denied rumours that he is leaving Cardano (ADA), calling reports of his retirement a complete fabrication and reaffirming his commitment to the project.
Hoskinson released a video firmly rejecting claims he is quitting Cardano and explaining how out-of-context clips fueled the rumour.
The rumours landed during a tense governance period for Cardano, which helped them gain traction but did not change Hoskinson’s current influence or ADA’s core roadmap.#Cardano Dips 4.3% Amid Founder Charles Hoskinson Exit Rumours #
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