Charles Hoskinson, the founder of Cardano and CEO of Input Output Global, addressed criticism regarding ADA’s price trajectory during a recent livestream. ADA, Cardano’s native cryptocurrency, remains well below its September 2021 all-time high, leading to growing frustration among its holders.
Hoskinson responds to price criticism
In the livestream titled “Finishing Cardano,” Hoskinson faced questions from viewers who accused him of fueling expectations that ADA would surpass Bitcoin. He clarified that he would like to see Cardano become the largest cryptocurrency, but stressed he never guaranteed such an outcome or any specific price increase for ADA.
Referring to past comments, Hoskinson said he had expressed hope that Cardano could one day become the leading network, using terms like “think” and “probably” to underline their speculative nature. He emphasized that personally wanting ADA success is not the same as making promises to investors.
Hoskinson also addressed demands that he take action to boost ADA’s value, describing such requests as unreasonable. He noted that market expectations often shift continuously, with some investors always seeking higher price targets regardless of past performance.
Cardano founder Charles Hoskinson clarified that he never promised ADA price growth or claimed it would overtake Bitcoin, stating, “I would like it to happen, but I never guaranteed a specific outcome.”
Further discussions on the November 7 Q&A reaffirmed this position. Hoskinson reiterated that while he envisioned growth for Cardano, he had not made any binding assurances regarding price appreciation.
Cardano’s roadmap and governance evolution
Cardano—a blockchain platform known for its scientific approach—has followed a five-era roadmap: Byron, Shelley, Goguen, Basho, and Voltaire. These epochs introduced foundational network launches, staking, smart contracts, scalability improvements, and, most recently, decentralized on-chain governance. The Plomin upgrade, implemented in January 2025, empowered ADA holders with formal voting rights over network decisions.
Hoskinson stated that, from his perspective, the completion of Voltaire means Cardano can self-govern without relying on a central authority. However, continued protocol development is planned, including proposed upgrades and technical improvements that extend beyond the main roadmap phases.
In May 2026, Input Output Global submitted a treasury proposal seeking ₳27.7 million to advance Ouroboros Leios—a consensus protocol—toward readiness for the mainnet by the end of 2026. According to community updates, node version 11.3 featuring Linear Leios is anticipated for release in December, with testnet trials and further adjustments required before implementation.
Mini dictionary: Ouroboros Leios is an upcoming Cardano consensus mechanism upgrade designed to boost performance and scalability. It builds upon previous Ouroboros iterations, aiming to improve validation efficiency and network capacity.
Market data: ADA and broader crypto declines
On November 14, ADA traded near $0.1635, marking a 26.6% fall from the previous month and standing 94.7% below its peak of $3.09 reached in September 2021. These figures reflect current market sentiment but do not signal direct causes for the decline.
Leading cryptocurrencies also faced significant declines during this period. Bitcoin fell to $65,562 (down 20.44% in 30 days) and Ether dropped to $1,830.18 (down 25.08%). A Crypto Fear & Greed Index reading of 13 corresponded to “Extreme Fear,” indicating broad market caution.
| Asset or index | Value | Date/source |
|---|---|---|
| ADA | $0.1635, down 26.6% in 1 month | BeInCrypto, November 14 |
| Bitcoin | $65,562, down 20.44% in 30 days | CoinGecko, November 14 |
| Ether | $1,830.18, down 25.08% in 30 days | CoinGecko, November 14 |
| Fear & Greed Index | 13 (Extreme Fear) | Alternative.me, November 14 |
Ongoing work in Cardano’s technical development and upcoming governance features are viewed as separate from day-to-day ADA price movements. While network upgrades—including node 11.3 and Ouroboros Leios—are in progress, the impact on market value has not been established.
ADA’s price remains nearly 95% below its all-time high despite continued protocol upgrades and the transition to decentralized governance.
As Cardano’s ecosystem advances, investors are watching both development updates and overall market conditions to gauge the network’s future direction.
