Cardano

Bitcoin

DeFi

Trillion

<p>Cardano has teamed up with BitcoinOS to unlock $1.3 trillion of Bitcoin liquidity, which is significant for the network. The integration is intended to make Cardano a smart contract layer in Bitcoin, enabling the integration of the two. This will allow Cardano DeFi developers to interact with the Bitcoin market directly without the need for middlemen.</p> 
<p>The partnership was revealed during the Cardano Summit 2024. It demonstrated Cardano’s desire to become one of the leaders in the broader blockchain space.</p> 
<h2 class="wp-block-heading" id="h-enhanced-interoperability-through-zero-knowledge-technology"><strong>Enhanced Interoperability Through Zero-Knowledge Technology</strong></h2> 
<p>An important component of this partnership is the integration of BitcoinOS’s zero-knowledge (ZK) proof mechanism. This new system will help to integrate the Bitcoin network with the Cardano network in a more complex way. The BOS Grail bridge, a component of this initiative, provides a secure, trustless connection for Bitcoin transactions. As well as for assets to be incorporated into the Cardano system.</p> 
<p>With this bridge, the Cardano developers can now leverage on the liquidity of Bitcoin. It aims to improve their projects and create a number of dApps.</p> 
<p>Zero-knowledge proofs provide privacy and security while allowing for the transfer of assets between different blockchains. The inclusion of these proofs will enable the validation of transactions without exposing the involved details. It further enhances the use of Bitcoin within the DeFi model of Cardano.</p> 
<p>Furthermore, this partnership with BitcoinOS enables Bitcoin to support smart contracts and dApps. It is something that Bitcoin has not been capable of doing.</p> 
<h2 class="wp-block-heading" id="h-cardano-founder-envisions-defi-on-bitcoin-surpassing-rivals"><strong>Cardano Founder Envisions DeFi on Bitcoin Surpassing Rivals</strong></h2> 
<p><a href="https://www.thecoinrepublic.com/2024/10/16/charles-hoskinson-supports-major-update-to-boost-cardanos-capacity/">Charles Hoskinson</a>, Cardano’s founder, has provided some enthusiasm about the partnership as having the potential to revolutionise the DeFi space. In Hoskinson’s view, Bitcoin being incorporated into Cardano’s ecosystem can result in a DeFi market on Bitcoin greater than Ethereum and Solana.</p> 
<p>This could give more users and projects toCardano’s ecosystem as they are attracted by the liquidity of Bitcoin.</p> 
<p>Moreover, the new emphasis on interoperability is a part of Cardano’s larger roadmap to enable more financial use cases. </p> 
<p>With the help of a programming toolkit called Aiken, which allows for the creation of smart contracts that can be used on both Cardano and Bitcoin, the network will make the process much easier for developers. This tool will help developers come up with new and effective solutions to problems within both blockchains.</p> 
<p>More so, Hoskinson’s plans to bring back the Bitcoin Education Project to provide a way for developers to work across both ecosystems. He stated, “With Bitcoin being back in the family and innovating with BitcoinOS, I will relaunch the Bitcoin Education Project in 2025 and publish a new edition of the course.” We’re also going to develop Aiken education for Bitcoin developers.”</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Now that Bitcoin's back in the family and innovating again, thanks to <a href="https://twitter.com/BTC_OS?ref_src=twsrc%5Etfw">@BTC_OS</a>, I will re-launch the Bitcoin Education Project in 2025 and produce a new edition of my course. We are also going to prepare Aiken education for Bitcoin developers, including hosting on…</p>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1849858946829516830?ref_src=twsrc%5Etfw">October 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-analyst-sets-bullish-ada-targets-amid-expanding-capabilities"><strong>Analyst Sets Bullish ADA Targets Amid Expanding Capabilities</strong></h2> 
<p>Due to this partnership, market professionals have adjusted their expectations concerning Cardano’s ADA token and its performance in the market. Since Cardano is now being used as a bridge for Bitcoin’s liquidity, analysts have put forth their predictions for ADA’s price. More so, the recent analysis indicates that&nbsp;<a href="https://www.thecoinrepublic.com/2024/10/24/will-cardano-upward-wave-3-drive-ada-price-toward-0-55/">Cardano (ADA)</a>&nbsp;is aiming at $0.55 as it is in the third wave of the upward move.</p> 
<p>An analyst from TradingView put forward a target of $1.80 in the long term if ADA holds between $0.30-$0.35. This support range has been identified to have high demand over the past, a clear indication of future growth.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="665" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-1024x665.png" alt="Source:&nbsp;TradingView" class="wp-image-798919" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-1024x665.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-300x195.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-768x499.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-150x97.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4-696x452.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/image-8-4.png 1053w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source:&nbsp;TradingView
 </figcaption>
</figure> 
<p>In the short term, ADA is having trouble breaking past the $0.39 mark, a key area where selling pressure has been intense before. If ADA can manage to penetrate this barrier it may mean that there is a possibility for a bullish trend to occur, with an added advantage of the liquidity from the BitcoinOS project.</p> 
<p>Nonetheless, if the current support levels are broken, there is a possibility of testing lower price values, therefore it is imperative for ADA to seize on this partnership opportunity. When Cardano continues to adopt Bitcoin’s liquidity, these changes may affect the&nbsp;<a href="https://www.thecoinrepublic.com/price-prediction/cardano/">ADA price</a>&nbsp;trend in the future.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/10/28/will-ada-price-react-to-cardanos-1-3-trillion-bitcoin-move/">Will ADA Price React To Cardano’s $1.3 Trillion Bitcoin Move?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Will ADA Price React To Cardano’s $1.3 Trillion Bitcoin Move?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 28, 2024

Qubetics Reaches $1.5M in Presale as Tron Provides Stability and FX Guys Redefines FX with Blockc...

Crypto Predictions 2025: What to Expect and How to Prepare

Elon Musk's DOGE Tweet Excites Crypto Community: Details

SEC Challenges Court's XRP Ruling in Formal Appeal

UNI and JUP Rival – ZircuitDEX Set to Skyrocket 5000% in 2025

BlackRock to Vote in Microsoft's Bitcoin Decision, Reveals Fred Krueger

Join our free newsletter for daily crypto updates!