- Cardano founder is upset with ADA’s omission from Coinbase’s new report.
- Charles Hoskinson tweeted that he “expected better” from Coinbase.
- Coinbase’s crypto report outlines the main factors expected to succeed in 2023.
Charles Hoskinson, the creator of Cardano and co-founder of Ethereum, took to Twitter to express his disappointment in the most recent report from Coinbase. Cardano (ADA) isn’t mentioned at all in the report. Hoskinson said that he “expected better.”
Coinbase released a report titled “2023 Crypto Market Outlook,” which outlines three main themes anticipated to prevail in 2023, including updates on BTC.
According to Coinbase, investors will shift towards higher quality digital assets, like Bitcoin and Etherium, citing factors such as robust tokenomics, hardy ecosystems, and ample liquidity.
Coinbase asserts that the deleveraging from 2022 has had a significant negative impact on investors’ willingness to accumulate altcoins, believing a full recovery could take several months.
Furthermore, the future of digital investments depends on the advancement of frameworks and standards for regulated cryptos, signaling that these regulatory measures will largely determine the subsequent market cycle of digital assets.
Yet, in spite of the worry surrounding the possible fallout, there are key characteristics that separate this market from the previous crypto winter. Firstly, institutional crypto adoption is still firmly entrenched. As Coinbase author, David Duong stated:
This environment has helped cryptocurrencies pull back from their speculative fervor and paves the way for new innovations in the asset class.
Also, many investors are taking a long-term outlook, and they understand the cyclical nature of the crypto markets. Instead of becoming timid, they are utilizing this environment to sharpen their knowledge and assemble the infrastructure in preparation for the future.
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