IAG (Iagon) fluctuates 44.0% in 24 hours: Public disassociation by Cardano founder triggers panic selling

Volatility Overview

IAG's price rebounded from a 24-hour low of $0.020 to a high of $0.0288 before falling back to the current $0.0216, with a swing of 44.0%. The 24-hour trading volume surged to approximately $16.1 million (CoinGecko/CoinMarketCap data), which is 173% of the market cap, indicating significant net capital outflows.

Summary of the Cause of Abnormalities

- Cardano founder Charles Hoskinson publicly severs ties with Iagon: On April 27, 2026, Hoskinson accused Iagon CEO Navjit Dhaliwal of "bullying" during Cardano treasury proposal voting and warned that the project might collapse under its current leadership, resulting in panic selling and a 34% price drop within 48 hours.

- Background of the dispute: The issue stems from Blockfrost integrating Filecoin instead of Iagon as Cardano's storage solution, with Iagon’s CEO calling on DReps to oppose the IOG proposal, sparking governance conflict and speculative trading, though there are no notable on-chain records of whale or team sell-offs.

Market Views and Outlook

Community sentiment is divided, with CoinGecko showing 75% bullish/25% bearish; discussions on X focus on manipulation concerns and emotional sell-offs. Some users are bottom-fishing, but mainstream analysts warn of high short-term risk; if the dispute continues, the $0.02 support may break, so it is advised to monitor the recovery of the DePIN narrative.