Cardano founder Charles Hoskinson recently revealed that his personal Cryptoasset has lost over $3 billion in paper value, reflecting the pressure the crypto market is facing during a prolonged downturn. Hoskinson Chia this information during a public livestream from Tokyo, where he emphasized that this loss is only an unrealized loss and that he has no intention of selling off his holdings.
During the live stream, Hoskinson candidly addressed the criticisms often leveled against wealthy figures in the crypto industry. He stated that he had lost more money than most of the viewers, with a decline in value exceeding $3 billion, but he didn't XEM this as a reason to abandon the blockchain field. Hoskinson asserted that his continued development of Cardano was not solely for financial gain but also stemmed from his belief in the long-term value of decentralized technology.
These statements come amidst a sharp correction in the global cryptocurrency market. Market data shows that the total market Capital of the crypto sector has decreased significantly recently, with both Bitcoin and Ethereum recording double-digit short-term declines. ADA, the native Token of the Cardano ecosystem, faced stronger selling pressure than the general market, falling by more than 11% to trade around $0.25. Compared to its historical peak of $3.09 reached in September 2021, ADA has now fallen by approximately 92%, indicating a deep drawdown similar to many major altcoins in their downturn cycles after previous boom periods.
Hoskinson believes the market may experience further negative fluctuations in the near future. He encourages blockchain developers and investors to persevere in building products and infrastructure, emphasizing that participants in the cryptocurrency industry are contributing to meaningful changes in the global financial system. According to him, asset prices may continue to fall, but the core value of technological innovation is what will determine the industry's future.
Previously, Hoskinson issued a similar warning, revealing that his personal crypto portfolio had lost approximately $2.5 billion in value over the past four years. He attributed this largely to policy and regulatory instability, causing many individual investors to leave the market. This view reflects the reality of the crypto industry in recent years, as many countries have increased regulation of digital asset activities to limit financial risks and protect investors.
Hoskinson also offered a noteworthy perspective on the current market cycle, suggesting that 2026 may not be a traditional growth cycle but rather a "reset" phase for the blockchain industry. According to him, future development will depend more on practical applications and next-generation technological infrastructure rather than short-term speculative waves. This trend is gradually emerging as many blockchain projects focus on expanding transaction processing capabilities, improving data security, and developing highly applicable decentralized finance ecosystems.
