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Charles Hoskinson is involved in a shocking scandal of 318 million ADA.
Cardano and New Events: Moving Towards Breakthrough
While Cardano, the decentralized blockchain platform, is witnessing a 4.3% increase in ADA tokens over the past 24 hours, a new controversy has emerged. There are allegations that founder Charles Hoskinson illegally transferred 318 million ADA worth approximately 619 million USD. However, ADA is still on the verge of a potential breakout, with indicators suggesting the price could rise to 1 USD.
ADA Scandal? Hoskinson Responds
Charles Hoskinson, the founder of Cardano, has become the center of attention in recent weeks. He faces allegations of illegally transferring ADA. Cryptocurrency influencer Masato Alexander claims that Hoskinson used special access to transfer 318 million undeclared ADA, worth approximately 619 million USD. Hoskinson denies this and asserts that 99.8% of the tokens have been legally declared, in compliance with regulations.
Price Chart Analysis
The 1-day chart of Cardano shows that the price has been accumulating in the range of 0.66 USD to 0.72 USD over the past two weeks. Today, ADA rose nearly 4.5% to around 0.707 USD, breaking away from the recent downtrend. If ADA surpasses the important resistance level at 0.7214 USD, it could confirm a breakout and pave the way for an upward move to 0.75 USD, 0.80 USD, or even 1 USD.
On the contrary, if it cannot break through, ADA may retrace to support levels near 0.6684 USD or 0.616 USD.
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