C. Hoskinson criticises Coinbase for excluding Cardano from its 2023 crypto outlook study


Charles Hoskinson, the creator of Cardano (ADA), criticized crypto exchange Coinbase for excluding the platform from its 2023 market forecast study.

After a long winter in 2022, Coinbase’s study highlighted themes expected to dominate the cryptocurrency industry in 2023.

In this December 21 tweet, the Ethereum (ETH) co-founder criticized Coinbase for not including Cardano, describing the exclusion as “very sad.” “No reference whatsoever of Cardano. Very low and miserable. I honestly anticipated more,” he added.

Hoskinson’s dissatisfaction with Cardano’s exclusion from the study is consistent with his prior remarks, in which he stated that the platform is not given enough credit in light of the current network advances.

For instance, the Cardano creator had previously warned that the network will likely be targeted after Ethereum’s transition to proof-of-stake (PoS) during the Merge update. 

Elsewhere in the research, Coinbase predicted that institutional investors would continue to increase their presence in the cryptocurrency field through 2023, concurrently with the rise of creative destruction, which will likely usher in a new market cycle for digital assets.

“However, there is some good news. This atmosphere has helped cryptocurrencies come back from their speculative frenzy and opens the path for new asset class developments,” Coinbase said.

In addition, the exchange said that the crypto regulatory environment would likely become apparent in 2023, driven by institutions’ need for improved governance.

In the meanwhile, Hoskinson has been criticised by members of the cryptocurrency community, notably XRP supporters, who accuse him of siding with the Securities and Exchange Commission (SEC) in its litigation against Ripple.

As reported by Finbold, in this statement, Hoskinson determined not to comment on any issue pertaining to XRP and Ripple due to what he described as harsh assaults from the community.

Despite not being included in the study, Cardano is experiencing considerable growth on several fronts as the platform strives to enhance cryptocurrency acceptance. Cardano has seen an increase in the number of staking addresses and smart contracts, for example.

Also Read: Developers Reveal and Explain Major Cardano (ADA) Innovations

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