Charles Hoskinson faces 318 m ada scandal

A new controversy has emerged by 4.3%, especially as Cardano, the decentralized blockchain platform, in the last 24 hours by 4.3%. The founder Charles Hoskinson applied for $ 318 million worth 318 million US dollars without permission.

Despite the drama, Ada remains on the right track for a potential outbreak, with the indicators pointing out a price ascent to 1 US dollar.

318m AdA scandal? Hoskinson answers

The founder of Cardano, Charles Hoskinson, has ended up in the spotlight in the past few weeks and claims that Ethereum may not survive in the next 10 to 15 years to defend Cardano against critics

But this time Hoskinson sees serious accusations of making illegal movements of ADA token. The crypto influencer Masato Alexander claims that Hoskinson had used a special access to 318 million non -claimed ADA worth around 619 million dollars without permission.

According to Masato, the tokens were connected to a company called Acts Corp and were sold to investors in Japan, some of whom felt cheated later.

Hoskinson quickly denied all the claims, he said 99.8% of the tokens were legally claimed, and the rest was moved according to the rules after a period of 7 years.

Many in the Cardano community came to his defense and said that everything was made transparent and the networks are followed.

Cardano is based on Breakout – $ 1

In Cardano's 1-day chart, the price has consolidated between 0.66 and $ 0.72 in the last two weeks. Today ADA rose by almost 4.5% to around 0.707 US dollars and broke out from the latest downward trend.

If you take a closer look at the diagrams, it is clear that ADA has come back from a low of $ 0.60 and is now moving through the most important Fibonacci levels. In particular, ADA broke the level of 0.618 Fibonacci at $ 0.6984 and is currently testing the level of $ 0.786 $ 0.7086, a bullish signal that indicates that the strength is built up.

If ADA can close over $ 0.7214, this can confirm an outbreak and open the door to a rally to USD 0.75, $ 0.80 or even 1 USD.

However, if ADA does not break this key resistance, it can tie back to support almost $ 0.6684 or $ 0.616.