Cardano in Crisis. Is It Time to Sell?
Cardano (CRYPTO: ADA) has fallen by 24% in the past week, taking it to a five-year low of $0.16. Sure, cryptocurrency prices have taken a dive across the board, but Cardano has dropped more than 75% in a year, and what's happening goes beyond its price: Cardano's model is failing. In an emotional video, Cardano's founder Charles Hoskinson described the ecosystem as a "toxic hellscape" and called on the community to make major changes to stop Cardano from dying.
When you hear such dire warnings from the face behind a project, it is time to think about selling your crypto. I've held Cardano for years because I believed there's long-term potential in a research-driven crypto that aims to use the blockchain to make a difference in the world. I admire Hoskinson, and I still think Cardano has strong technology and the know-how to solve big problems in the sector. But it is shooting itself in the foot with ongoing infighting and an inability to make key decisions.
Image source: Getty Images.
Source Fool.com
