Can Cardano Lead Bitcoin DeFi? Hoskinson Thinks So
Cardano (ADA) has experienced a 4.8% decline in the past 24 hours, reflecting a broader downturn in the cryptocurrency market ahead of a speech by Federal Reserve Chairman Jerome Powell.
Despite this setback, Cardano’s founder, Charles Hoskinson, remains optimistic about the network’s future. In a recent interview, he highlighted Cardano’s substantial treasury of $1.5 billion in ADA, which can be utilized to enhance the network and develop necessary upgrades.
Hoskinson also emphasized Cardano’s unique design, which he believes positions it as the ideal platform to enable Bitcoin DeFi applications. He stated, “Cardano is the best system in the entire world to enable Bitcoin DeFi… because we’re EUTXO. The way we’re designed, when you’re a Bitcoin developer, you instantly understand it.”
Currently, ADA is trading at approximately $0.6141, with a 24-hour trading volume increase of nearly 17%. The price is retesting a key trend line support, and a drop below this threshold could push ADA back to the low $0.50s.
For investors seeking secure storage solutions for digital assets like ADA, Best Wallet is emerging as a notable option. It offers an all-in-one Web3 solution supporting over 60 blockchains and integrates directly with leading DeFi protocols for seamless trading and swapping. The wallet’s standout feature, the “Upcoming Tokens” screener, assists users in discovering and investing early in new presales directly from the wallet. At a discounted price of $0.02475, the $BEST token provides benefits such as reduced fees, higher staking rewards, governance rights, and exclusive early access to vetted crypto launches.
To participate in the presale at this discounted price, visit the Best Wallet website and connect your wallet.
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