1. Hoskinson's Criticism and Community Reaction
2. Hoskinson's Predictions and Statements
3. Market Comparison and Current Situation

Blockstream CEO Adam Back has joined the ranks of prominent Bitcoiners criticizing Cardano and its founder Charles Hoskinson, predicting a significant drop in ADA's price.

Hoskinson's Criticism and Community Reaction

Adam Back, a well-known Bitcoin evangelist cited in Satoshi Nakamoto's famous white paper, predicted that the price of ADA, the native token of the Cardano ecosystem, could drop another 90%. These comments followed recent statements by Input Output Hong Kong (IOHK) CEO Charles Hoskinson, which sparked criticism from the Bitcoin community.

Hoskinson's Predictions and Statements

Charles Hoskinson has repeatedly criticized Bitcoin for its lack of programmability and the conservative nature of its developers. Last August, Hoskinson stated that Cardano could eclipse Bitcoin and Ethereum. Despite such ambitious claims, the market does not seem to favor Cardano.

Market Comparison and Current Situation

According to prominent Bitcoin advocate Tuur Demeester, Cardano now accounts for only about 1% of Bitcoin's market cap, compared to 10% three years ago. Furthermore, Cardano is no longer among the top 10 cryptocurrencies by market cap, currently ranking 12th behind Dogecoin, Tron, and Toncoin.

In conclusion, despite Charles Hoskinson's ambitious claims, the current market indicators and prestige among the cryptocurrency community do not support optimistic predictions for Cardano and its ADA token.