Cardano Founder Criticizes Summit Budget Amid Network Upgrades

Cardano (ADA) has been making waves in the crypto market due to a recent statement by its founder, Hoskinson.

Hoskinson criticized the 14M ADA summit budget, claiming it is wasteful and that the party cannot move the price. He suggested investing all of the funds into a permanent global community center, which would likely pass with ease according to him.

Meanwhile, two major upgrades on the network are nearing completion: Leios expansion and van Rossem hard fork. These upgrades will significantly increase transaction per second (TPS) rates, making Cardano more appealing to institutional investors and users alike.

Large investor addresses have been accumulating heavily, with over 819 million ADA held. This trend suggests that smart money is differentiating itself from retail investors, as these whales continue to accumulate and hold onto their coins.