Cardano community responds to founder statement amid ADA price volatility

Cardano is under fire after fresh claims said founder Charles Hoskinson moved millions in ADA during a past network upgrade. With ADA's price sliding and trust shaken, some investors are switching to new projects with better upside. One of them is Remittix. Read on to see why people are seeking safer gains in this novel remittance project.

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Hoskinson responds to ADA embezzlement claims

Cardano’s founder, Charles Hoskinson, is being accused of rewriting the network ledger during the 2021 Allegra hard fork. NFT artist Masato Alexander claims he used a hidden transaction to move 318 million ADA, worth about $619 million at the time.

Hoskinson pushed back. According to him, the rightful buyers had already redeemed the tokens over the years. He also claimed that the leftover amount was later donated to Intersect, a governance body for the Cardano network. “IOG never gave itself 350 million unclaimed ADA,” Hoskinson wrote on X. “This is a lie.”

Still, the accusations stirred doubt in the community. Some users and analysts are now combing through Cardano’s on-chain records for proof. The project announced that a third-party audit report is on the way to clarify events, but the damage might already be done.

Source: Cardano owner on X denies theft attack

ADA price stalls as bearish signs grow stronger

The ADA price dropped to around $0.72 on Tuesday and is hanging on to support at the 200-day EMA. According to Santiment, daily active addresses on the network are down from 35,000 to just under 24,000 in the last week, which shows that fewer people are using the blockchain.

The DEX volume on Cardano has also dipped to just over $3 million. That’s a sharp decline from earlier in the year and a red flag for liquidity and user interest. Meanwhile, the MACD shows a bearish crossover, and the RSI is slipping below 50.

Source: Analyzed TradingView charts via fxstreet

If the ADA price breaks below $0.71, analysts expect a 12% drop to $0.64. Market trends haven’t been kind to mid-tier altcoins lately. The network’s recent scandal could also scare off new buyers. With momentum fading, many are questioning ADA’s long-term upside.

Remittix emerges as a better bet for high returns

While the ADA price struggles to hold its ground, a growing number of investors are shifting their focus to Remittix. It’s a PayFi token that lets people send crypto directly to bank accounts in over 30 currencies. The receiver doesn’t need to know anything about crypto.

The project is still in presale, but it’s already sold more than 75% of its token allocation. Its current price is just $0.0781 per token, making it one of the lowest entry points for a crypto with this kind of real-world use case.

Remittix is audited and backed by working tech. You can connect a wallet, send crypto and the recipient receives fiat in their bank account, all without delays, currency conversion fees or extra steps.

The network charges a flat 1% fee, offers anonymous transfers and offers up to 8% in staking rewards. For people tired of market drama, Remittix offers something different. It doesn’t rely on hype or complicated blockchain features. Instead, it solves a clear problem and pays users to hold its token.

EYES ON THE PRIZE! 🔥 Remittix 🔥 THIS CRYPTO IS ON THE PATH TO BLUE CHIP GLORY!

Conclusion: ADA holders are finding better value in Remittix

Cardano is facing a storm. Between scandal, falling metrics and weak technicals, the outlook is unclear. Charles Hoskinson says the audit will fix the trust issues, but some investors aren’t waiting. They're moving to Remittix.

Remittix is still early. It has real-world use, a working platform, low fees and high staking returns, which is why more ADA holders are pivoting to RTX while it’s still in presale. In today’s market, clarity and reward matter more than ever and Remittix offers both.

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