Cardano founder Charles Hoskinson broke his silence on the network's prolonged slump during a surprise X AMA on July 27, 2026. 'I still do believe our best days are ahead of us… We just have to change the approach, and we just have to change the strategy,' he said. The admission comes as ADA trades at $0.1566, down 1.57% in the last 24 hours and roughly 95% below its September 2021 all-time high of $3.09. The token has shed 53% year-to-date in 2026.
The AMA and the admission
Hoskinson's AMA wasn't on the calendar. He showed up, acknowledged the underperformance, and laid out a governance overhaul targeting 600 million ADA in backlogged treasury requests. That's a lot of ADA sitting in limbo — roughly $94 million at current prices — and the community has been waiting months for a path forward. The message was clear: the old playbook isn't working.
Governance gridlock and the cancelled summit
The 2026 Cardano Summit was cancelled. That's a big deal for a network that used the event to rally developers and showcase progress. Ongoing governance disputes have rattled builder confidence, and the summit's absence only amplifies the sense of drift. The treasury backlog is a symptom of a deeper problem: the community can't agree on how to spend its own money.
What the charts say
ADA is trading below both its 50- and 200-day simple moving averages, both sloping downward. That's a sustained downtrend, no way around it. Support sits in the $0.14 to $0.15 band; a breakdown could send the token to $0.10 to $0.13. Near-term resistance is at $0.20 to $0.25, and a decisive close above $0.25 would signal a trend reversal. CoinCodex projects a near-term range of $0.168 to $0.194 — not exactly a breakout.
Meanwhile, a Layer 3 presale
In other news, LiquidChain (LIQUID), a Layer 3 infrastructure project that fuses Bitcoin, Ethereum, and Solana liquidity, has raised $920,002.48 in its presale at $0.01484 per token. It's a different corner of the market, but it shows capital is still flowing into new infrastructure plays even as legacy tokens like ADA struggle.
Hoskinson's strategy shift is the next concrete thing to watch. The treasury overhaul needs to move from talk to execution — and fast. If the backlog stays stuck and the summit stays cancelled, the $0.14 support level might not hold.
