$ADA is cooling off hard right now.

Cardano founder Charles Hoskinson has confirmed he is stepping back from public appearances, including videos, interviews, and social media activity. However, he made it clear that he is not leaving the project and will continue working on development behind the scenes.

The announcement came after his June 3 post saying “I’m taking a break for a while, see you later” sparked panic across the market, with many traders wrongly assuming a full exit.

Following the news, ADA saw increased volatility and dropped sharply, briefly breaking below key psychological levels as fear spread across the market.

At the time of writing, ADA is trading under pressure, with rising volume showing heavy selling activity and uncertainty still dominating short-term sentiment.