Cardano founder: «Cryptocurrencies don’t harm the market, they save it»

On May 11, Charles Hoskinson, the founder of Cardano, held a video conference on his Twitter account in which he criticized the behavior of large investors in the cryptocurrency market. He believes that they have «chosen their fate» by their behavior.

Moreover, Hoskinson believes that cryptocurrency can cure the global economy, which is extremely unhealthy. «It's always been dangerous to invite people from Wall Street to the crypto market,» Hoskinson commented on the market situation. As it became known earlier, most of the «paper hands» (as those who quickly get rid of assets in case of a sharp drop are called) are institutions, while private, retail buyers mostly hold the asset that is falling at the moment.

The reason for this is the attitude of institutional market participants to cryptocurrency: «They view cryptocurrencies exclusively as a high-risk, high-return asset.»

The global economy will collapse one way or another, it cannot sustain itself," summarized the author of one of the top coins, which, however, has fallen in price by 40.5% over the past week due to market panic.