Cardano (ADA) now has million wallets but price continues to fall, “you cannot make a 900% profit without a decline”

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There are now more than a million Cardano (ADA) wallets in the world. The Cardano Community announced this on May 23:

There were only just over 200,000 ADA wallets on January 1, which is a fivefold increase since the turn of the year. Furthermore, the Cardano Community reports that more than 70% of ADA in circulation is now trapped in nearly 2,500 staking pools.

In related news, Cardano founder Charles Hoskinson, CEO of Input Out Hong Kong (IOHK), reports in an ask me anything (AMA) session that he is now a billionaire. Hoskinson admits that he was actually a billionaire for a short while in 2017, but then prices crashed.

It took me three years from when I started my first cryptocurrency business to become a millionaire, and I first became a billionaire in 2017. Very, very short. Markets collapsed and everything went to hell, but I was fine. And then I became a billionaire again in 2021. ”

Hoskinson, also co-founder of Ethereum (ETH), reports that he no longer owns ether. The ADA price continues to fall today and is at a price of $ 1.21 today 21% in the negative and 50% below its all-time high (ATH) of $ 2.45 reached a week ago. Nevertheless, the ADA rate is still almost 600% in the plus in 2021.

Welcome to crypto. That's how crypto works. It goes way up, it goes way down. You cannot make a 900% profit without expecting some setbacks. That's how the world works. Crypto is very volatile.

Markets have a hard time pricing innovation, and they have a hard time choosing the right winners and losers. There is often over-enthusiasm and over-justification for all kinds of things. And then there is a relapse and people become overly pessimistic, throwing the baby out with the bathwater, just like they did with the dotcom bloom. ”

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