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Cardano’s Hoskinson claps back after ADA, XRP branded as ‘crypto zombies’

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Hoskinson was quick to defend ADA and XRP against Forbes’ labelling of the tokens as “crypto zombies.”
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  • Forbes questions the viability of Cardano, Ripple, and Bitcoin Cash in its recent article.
  • Hoskinson defends Web3 community against Forbes’ “crypto zombie” allegations.

Unlike other cryptocurrencies, Cardano’s ADA is unable to follow a similar trajectory as the broader crypto market. At the time of writing, ADA was trading at $0.6473 after decreasing by 1.45% in just 24 hours.

Separately, a recent Forbes article labeling several cryptocurrencies as “crypto zombies” has made news. The list included Cardano [ADA], Ripple [XRP], and Bitcoin Cash [BCH].

Hoskinson’s defensive stance

In response to the article, Cardano co-founder Charles Hoskinson took to X and noted,

“Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes. I guess it’s because we got all the brain.”

By this, Hoskinson aimed to defend the broader Web3 community against the article’s allegations.

Community backing  

Adding to the chain, Bill Morgan, XRP lawyer highlighted, 

“The Zombie chain the SEC alleges more than 80 institutions signed with Ripple to utilise since the Ripple lawsuit commenced despite the chilling effect of the lawsuit on Ripple’s business in the US. Poor @laurashin is so poorly informed.” 

Shedding light on the Forbes article’s lack of basic research, Mekras, Anodos Finance Co-founder criticized Forbes and labeled its comment as “nonsense and misinformation”. 

The article penned by Steven Ehrlich, Nina Bambysheva, and  Maria Gracia Santillana Linares further highlighted concerns regarding Cardano’s developmental stages, leaving uncertainties about its future trajectory.

It also questioned the extent of Hoskinson’s influence on Cardano’s success, suggesting that his popularity may overshadow the blockchain’s intrinsic value and utility.

Hence, this incident has been an eye-opener concerning the long-term viability of many blockchains, as highlighted in the Forbes article.

 

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Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
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