Charles Hoskinson, founder of Cardano ADA/USD and co-founder of Ethereum ETH/USD, is dismayed by Coinbase's COIN latest report that fails to mention ADA even once.
What Happened: A recent report by Coinbase: ‘2023 Crypto Market Outlook’ presents three key themes expected to prevail in 2023 as well as updates on Bitcoin BTC/USD, Ethereum, regulation, and more.
Hoskinson tweeted his disappointment in Coinbase, stating that he “expected better.”
See More: Best Crypto Day Trading Strategies
Coinbase believes that with factors such as strong tokenomics, robust ecosystems, and ample liquidity, investors will transition towards digital assets of higher quality, such as Bitcoin and Ethereum.
According to the crypto exchange, the deleveraging that occurred in 2022 has severely diminished investors’ appetites to accumulate altcoins, and full recovery may take months. Moreover, the future of digital assets hinges on the development of standards and frameworks for regulated entities, indicating that the next market cycle in digital assets will be determined in large part by these regulatory measures.
This comes at a time when Dogecoin DOGE/USD surpassed Coinbase in terms of market capitalization, as the "crypto-winter" caused share prices to plummet for publicly traded firms.
Price Action: At the time of writing, ETH was trading at $1,213 down 3.36%. ADA was trading at $0.25, down 0.28%, in the past 24 hours, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
