CARDANO $0.954379The price of the 4 %decrease is slowly recovered and traded at $ 0.9559. While market fluctuations and decrease in investor interest have a negative impact on the price, experts are waiting for recovery soon. Meanwhile, Cardano’s founder Charles Hoskinson is on the agenda because Ada Breast Coin Charles burned $ 100 million.
100 million subcoin burning
Charles Hoskinson, the founder of the famous Blockchain network, took a bold step in the crypto industry. On January 30, Hoskinson burned 900 billion island breast coins, which was Airdroped by the Token community. Charles Breast Coin’s anonymous founder sent these billions of tokens to Hoskinson to announce its name.
However, Hoskinson burned 900 billion Charles Token, creating a burning wallet. Cardano founder, while doing this, “I have 900 billion token, have I lost my mind?” He joked by saying. This increased token’s full market value to $ 71 million and the transaction volume to $ 5.14 billion.
In the early days of Shiba Coin, a significant part of the supply was sent to Vitalik Butter. Ethereum 
$3,261.2 We have seen this for many breast coins on the network and we see the adapted version of this story in the Cardano network.
Why did Charles Hoskinson burn these tokens?
Before US President Donald Trump launched Trump and Mellania breast coins, interest in these crypto currencies was high. Especially people benefited from the tokens influenced by celebrities. However, Cardano founder, Ada Breast Coin did not want to allow it to happen.
Hoskinson stressed that Hype does not represent the value. He also advised crypto users not to follow any project without thinking, and said that Cardano deems it necessary to protect his reputation as a blockchain project.
“I guess I’m not the founder of Coin anymore. Congratulations. Anyway, don’t do this again. “
This movement led to mixed reactions in the community. Some of them praised Cardano’s founder for this brave step, while others suggested to offer more donation options. Vitalik had donated many breast coins, including Shiba Coin, to India for assistance.
CARDANO PRICE EXPLANATIONS
The island is one of the top cryptos in the market. Cardano price is currently around 0.96 dollars after a 4 %decrease in the week. However, the island price graph is expected to recover soon as it creates a cup and handle formation.
Cardano is moving towards $ 1.30 with this rise formation. The main resistance level is $ 1.10 and the support level is at $ 0.90. Technical factors show the island token in the area of the buyers, and the RSI indicator points to the bull momentum. If the Cardano price exceeds $ 1.10, the next target may be $ 1.30 and then $ 1,796. However, if the support level is not $ 0.90, the price may fall further.
“Cardano is in the accumulation phase and ready to break. A leap on the main resistance will lead to $ 1.30, then if the momentum continues, it will lead to $ 1,796. ”
The decision to burn the Charles Tokens of the Cardano founder points to the increase in cryptos with a lack of credit. Ada Breast Coin’s creator shared 90 %of the supply to Charles Hoskinson to make a profit on his name. Hoskinson wanted to protect the value of the island by destroying these tokens. In addition, Ada Token’s trophy and handle formation shows the rise movement.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
