Charles Hoskinson News: There is a new message from Charles Hoskinson, the founder of Cardano (ADA), which is shown as a competitor to Ethereum and has increased by 11% in the last 24 hours and exceeded $ 1.60. Hoskinson evaluated the situation in the crypto money market with a video he shared on his Youtube account and made speeches about blockchain technology.
Input Output Honk Kong CEO Charles Hoskinson made important statements about the market in the video he shared. Referring to the reasons for the sharp decline that started in mid-May, Hoskinson underlined that cryptocurrencies are permanent.
Evaluating the latest situation in the crypto money market, Charles Hoskinson stated that the market is largely dependent on Bitcoin and he is upset about this situation. Hoskinson stated that they are aware of the fact that the crypto money market has become macroeconomic, but they have taken the market aside and adapted to develop the technology of this business (blockchain).
When Bitcoin loses value, the market loses value, and when it starts to gain value, the market starts to appreciate.
Now altcoins have reached the capacity to appreciate on their own. Many projects such as Algorant and Cardano have taken blockchain technology to the next level.
Charles Hoskinson stated that the main issue of the business, the blockchain technology, is permanent and will continue to develop. He said that it is inevitable that the DeFi (decentralized finance) ecosystem will replace the traditional financial system, and that this situation is slowly starting to happen.
“It is inevitable that these platforms will replace legacy systems. This is real.”
Hoskinson harshly criticized the traditional financial system in the video he shared. Stating that there is an existing system where everything is decided by a group of people and that does not work properly, Charles Hoskinson said that the traditional banking system is about to collapse.