- Despite facing significant resistance around the $0.50 price level, Cardano (ADA) has shown signs of resilience in its price action.
- Analyst Justin Bons accused Cardano’s parent company of controlling key aspects of the blockchain.
Cardano (ADA) has recently faced significant resistance around the $0.50 price. The trading volume over the last 24 hours has declined by 53% to $291,504,216, suggesting lower trading activity compared to the previous day.
This decline followed allegations by cryptocurrency analyst Justin Bons, who accused the blockchain project of extreme centralization. Bons pointed out that Input-Output Global (IOG), Cardano’s parent company, controls five out of seven of the blockchain’s “genesis keys.” These cryptographic keys were crucial in establishing the initial block of the Cardano blockchain in 2015.
1/8) Cardano has “genesis keys”; a multi-sig that controls all rules!
ADA is…
