- In a lighthearted response to Forbes’ “Crypto Zombies” moniker, Charles Hoskinson expressed faith in Cardano and the larger Web3 ecosystem.
- In contrast to Forbes’ pessimistic assessment, cryptocurrency trader Natalie Dormer offered a bullish prediction for ADA/BTC based on Heikin Ashi candle analysis.
Following a Forbes story that dubbed 20 blockchains “Crypto Zombies,” the cryptocurrency community is exploding with responses, igniting a lively conversation about digital currencies.
The man who created Cardano, Charles Hoskinson, reacted to this portrayal on Twitter with a mix of fun and resistance, wittyly replying, “I guess it is because we have brains.”
Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes.
I guess it's because we got all the 🧠! pic.twitter.com/nwKbf7R4Pb
— Charles Hoskinson (@IOHK_Charles) March 27, 2024
The controversial Forbes piece questioned the practicality and contributions of a number of well-known blockchains, including Ripple (XRP), Bitcoin Cash (BCH), and Cardano (ADA).
It paid particular attention to Ripple’s audacious objective of revolutionizing global financial transactions—a goal that, according to the article, is still mostly unachieved.
In a similar vein, Cardano faced criticism for what seemed to be a dearth of useful applications, even in spite of its significant market presence and the inspirational leadership of its co-founder, Hoskinson.
The Defense of the Crypto Community
The cryptocurrency community came together to refute these assertions. Despite a tense legal struggle with the SEC in the US, Ripple’s lawyer, Bill Morgan, forcefully refuted the charges by highlighting the blockchain’s considerable utility and the company’s continued relationship with over 80 institutions.
Similarly, Panos Mekras of Anodos Finance criticized Forbes for disseminating what he saw as “nonsense and misinformation,” which echoes a widespread opinion in the cryptocurrency community about how the media has been portraying digital currencies.
Previously, ETHNews reported that a study showed that Cardano outranked industry heavyweights like Bitcoin and Polkadot in a crypto brand ranking study. This came during fervent discussions about the utility and future of cryptocurrencies.
Technical Insights from ADA
A tweet from crypto trader Natalie Dormer gained traction, contributing to the conversation. Dormer claims that as long as the ADA/BTC pair stays above the uptrend line on its 4-hour chart, it appears to be in a bullish shape using Heikin Ashi candles.
It suggests that, despite the broader conversation that the Forbes piece spurred, things are looking up.
#ADA In order not to be fooled in drawing lines and areas, just use the Heikin Ashi candle.
Be extremely careful because I checked the ADA/BTC chart and saw that it is very important in support.
#ADAUSDT pic.twitter.com/li2zZPiZQk— Natalie Dormer (@NatalDormer) March 27, 2024
Meanwhile, the ADA price, which had dropped 0.78% in the last 24 hours, fell to $0.6484. But, this represents an increase of 2.61% over the past 7 days.