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Jun 3, 2026

Cardano Hits Multi-Year Low as TapTools Shuts Down and Founder Warns of 'Wave of Failures'

Cardano's ADA token fell to a 5-6 year low on Wednesday as TapTools, a major analytics platform in the ecosystem, announced it will wind down operations within two weeks. Founder Charles Hoskinson warned of a 'wave of failures' facing the Cardano ecosystem amid declining market conditions.

Jun 3, 2026·4 sources
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Apr 16, 2026

Charles Hoskinson attacks BIP-361, says Bitcoin's governance can't solve the quantum problem

Cardano founder Charles Hoskinson releases a video calling BIP-361 a mischaracterized soft fork that would render 1.7 million BTC permanently unrecoverable. He tweets "Have fun stealing Satoshi's coins" directly at supporters of the proposal and argues Bitcoin's lack of on-chain governance makes the quantum problem unsolvable, while positioning Cardano's governance model as the alternative.

Apr 16, 2026·4 sources
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Top claims

  • ▪Cardano has approximately $123.85 million in total value locked (TVL), ranking it 28th among blockchains.
  • ▪TapTools cited challenging economics and expensive infrastructure, development, and support costs as reasons for its closure.
  • ▪Cardano's market capitalization has fallen from an all-time high of $91.6 billion to $7.7 billion, dropping its rank from 3rd to 13th largest cryptocurrency.

Topics

Crypto market sentimentBlockchain analytics platformsAltcoin marketsBIP 321Bitcoin philosophy & cultureBlockchain governance
Bitcoin protocol & upgrades
Satoshi Nakamoto
Bitcoin governance
Blockchain quantum resistance

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