Cardano Foundation CEO urges focus on fundamentals amid ADA price drop

Following a sharp decline in the price of Cardano (ADA) after founder Charles Hoskinson announced he was taking a break, Cardano Foundation CEO Frederik Gregaard urged the community on X not to be swayed by short-term market sentiment and to instead focus on the project's long-term fundamentals. He emphasized that market panic and the network's actual technical progress should be considered entirely separate. Previously, Hoskinson announced a temporary suspension of his public activities, citing an inability to endure malicious comments and criticism from the community. He also mentioned the possibility of a chain split.