CJ - Cryptocurrency Enthusiast
The creator of Cardano (ADA), Charles Hoskinson, had a virtual conversation with Tony Edward of Thinking Crypto to discuss various themes in the cryptocurrency space considering the current market environment.
Edward's first question to Hoskinson was if he thought we were going for another crypto winter like the one that occurred in 2018 and 2019. Hoskinson replied by calling attention to the situation in the rest of the global financial market, claiming that it is in "free fall."
The present bear market, he continued, is very different from the one in 2018 and 2019 since a lot more people have entered the crypto market investment this time around, and there is a lot going on in the sector now that wasn't the case in 2018/19.
Given these considerations, he believes that the current bear market will be less dramatic than the last one. He did remark, though, that there is "questionable investing activity," which makes identifying the bottoms of the biggest cryptos, including ADA, hard. Another issue discussed in the interview was how the decentralised exchange (DEX) ecosystem is developing and innovating during this bear market, with Hoskinson noting the Wingriders team's development of a DEX based on the Cardano blockchain. Edward also asked the ADA founder if the SEC had ever sought to examine ADA during the conversation.
"We're one of the most decentralised initiatives in the space, and we're entirely transparent," Hoskinson responded. According to him, this isn't appealing to the SEC, which is only interested in pursuing fraudulent crypto businesses.
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