Cardano Founder Backs Ergo, Calls It a ‘Spiritual Successor to Bitcoin’ Amid HTX Delisting Controversy

Cardano founder Charles Hoskinson has openly supported Ergo (ERG) following news of its potential delisting from HTX

It emphasized that the listing agreement previously signed with HTX did not include minimum volume requirements. However, Ergo claimed HTX added ERG to its ST list without informing the Ergo team of any policy changes or providing adequate response time.

Meanwhile, Hoskinson praised Ergo, describing it as a spiritual successor to Bitcoin, the world’s largest cryptocurrency by market cap. He stressed that the project deserves more respect and love than it currently receives.

Furthermore, Hoskinson suggested that Ergo could thrive as a partner chain within the Cardano ecosystem. He noted that it is challenging for the Cardano team to provide support while Ergo remains a standalone Layer-1 (L1) project.

Is Something Big Coming for ERG?

While Ergo has yet to comment on the proposal, Edge Capitalism highlighted the significance of Hoskinson’s recent endorsement of ERG. Edge Capitalism finds it surprising that Hoskinson is commenting on a project like Ergo rather than established competitors such as Solana or Ethereum.

They view Hoskinson’s remarks as a strong endorsement of Ergo’s decentralized model and technology, suggesting that such high-profile validation could pave the way for significant development for ERG in the near future.

ERG Still on HTX

In the meantime, HTX Global has yet to delist ERG. Of the $351,000 total 24-hour trading volume for ERG, $42,561 was transacted on HTX Global.

The token, which plunged to a 30-day low of $0.7712 yesterday, is currently changing hands at $0.8258. It has surged 4.58% over the past 24 hours, but is down 3.67% in the past week. With a valuation of $67.71 million, ERG ranks as the 492nd biggest cryptocurrency by market cap.

Although Ergo is a separate L1 blockchain, it is compatible with the Cardano network. Like Cardano, Ergo uses the same transaction model, allowing decentralized applications to run on both blockchains. Last year, 624,000 ERG coins, or 0.76% of its 81.96 million circulating supply, moved to the Cardano network.