ADA price consolidates as Cardano explores Bitcoin integration, challenging Ethereum’s Layer-2 dominance.
Hoskinson Calls Bitcoin Integration a $2 Trillion Opportunity
Cardano (ADA) is trading at $0.80, down over 40% from its December peak. Founder Charles Hoskinson recently took aim at Ethereum and Solana, asserting that Cardano’s Bitcoin integration will unlock a $2 trillion opportunity in decentralized finance (DeFi). He argued that neither Ethereum nor Solana have the capability to achieve this vision.
Cardano’s BitcoinOS Partnership Gains Momentum
Hoskinson’s remarks follow Cardano’s partnership with BitcoinOS, a project aiming to create a Bitcoin-based DeFi layer. The integration is expected to go live in the coming months, positioning Cardano as a key player in Bitcoin’s growing DeFi ecosystem.
Ethereum and Solana Face Criticism
Hoskinson criticized Ethereum for relying heavily on Layer-2 solutions like Arbitrum, Optimism, and Base, which he claims are fragmenting its ecosystem. He also questioned Solana’s long-term sustainability, arguing that its network struggles under high data loads.
ADA Price Forecast: A 70% Rally Ahead?
Despite its recent dip, ADA remains above the 50-week moving average, a bullish indicator. Analysts suggest ADA is forming the third wave of the Elliott Wave pattern, historically the strongest. If momentum holds, ADA could reclaim its 2024 high of $1.32, representing a 70% surge from current levels.
Is Elon Musk Involved?
Hoskinson has teased an upcoming “VIP meeting,” sparking speculation about a potential collaboration with Tesla and X owner Elon Musk. While unconfirmed, such a partnership could further impact Cardano’s trajectory.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
