Lawsuits and legal proceedings are not new to the cryptocurrency sector. The ongoing lawsuit between the Securities and Exchange Commission and Ripple is a fine example of how the financial sector is prone to get more lawsuits than any other sector because of the ambiguity in regulation and nuances. But no one would have expected the tiff between SundaeSwap and CardStarter to go to court, even after several tweets from the founder of Cardano himself.
SundaeSwap and CardStarter went into a merger deal to share their liquidity. However, the latter incurred a great loss of TVL soon after the deal. SundaeSwap, on the other hand, posted great growth, and there were disagreements regarding settlements between the two firms.
Some speculate that this infighting could give Cardano a bad name. However, as it has little to do with the blockchain or the founder, it will not have any lasting effect on the price of ADA. Even the long-term investment scenarios look optimistic for ADA. Mainstream price predictions claim that ADA would exceed 5 dollars in 2026 for five years. Surprisingly, the coin is expected to triple its current price in the next two years alone. Visit the linked article and check out this ADA coin price prediction from CryptoNewsZ.
The coin experienced a fall of 3.34% in the last 24 hours. But the 5.06% rally of the last seven days seems to have compensated for it. The squabble is just another case of miscommunication in the realm of digital assets and cryptocurrency project launches. According to analysts, Cardano’s chances of competing for institutional money allocation may be harmed as a result of the public dispute.
Now the accelerator platform is expected to demand around 250 million tokens from SundaeSwap, which is significantly higher than the amount promised during the deal. Originally, CardStarter demanded 150 million tokens while SundaeSwap did not move from 10 million.
On the 4th of February, CardStarter took SundaeSwap to the courtroom, much to the dismay of Charles Hoskinson. This final action by CardStarter comes after extensive discussions and suggestions from many. Crypto-analyst Max Maher said the two sides are relatively young and inexperienced. While CardStarter gave false promises on several million dollars, SundaeSwap failed to have the deal as a written contract. Hoskinson, on the other hand, said that the case might take years to get resolved and is going to cost a hefty sum from both sides. It was certainly a disappointment for Hoskinson, who expected cooperation from both sides to resolve this issue.
Like all the other cryptos in the top 25, Cardano remains in the green zone with $1.18 at the time of writing.