Cardano

2024

Bitcoin

<h4>Charles Hoskinson of Cardano just made a huge bold prediction about Bitcoin. And Hoskinson’s own Cardano has more than 2x’d in the last 30 days.</h4>
How much higher can <a href="https://www.coingecko.com/en/coins/cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> go? And what’s pushing the pump right now? Let’s take a look at what’s new with Cardano (ADA).
<h5>Hoskinson Consulting Trump</h5>
So what is going on? And why is Cardano now all of a sudden doing things like adding 13,000 new wallets in 24 hours as I just showed you? First, we have Charles Hoskinson, the Cardano founder. He is now consulting with the Trump administration on crypto policy. 
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 The founder of <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> <a href="https://twitter.com/IOHK_Charles?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@IOHK_Charles</a> says “I’ve talked to Senator Scott, numerous Senators in the banking sector. We’ve been told by the executive branch trump wants America to be #1 to found and run a crypto business. We’re in talks with the legislative side.” Let’s go! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/3SaacMaoTR" rel="noopener noreferrer nofollow">pic.twitter.com/3SaacMaoTR</a>
 — Ed n’ Stuff (@EdnStuff) <a href="https://twitter.com/EdnStuff/status/1859731930742436065?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
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Hoskinson himself is a controversial figure that some believe has held back Cardano’s adoption. He likes to pick fights with everyone and enjoys playing the victim to people who haven’t truly wronged him. But he has his fans and there are positives, too. He’s an innovator. He LOVES crypto. And he is positioning himself and Cardano to benefit hugely from the Trump administration. They will likely be the most friendly presidency to crypto ever.
Even whales and institutions are getting into the act and buying Cardano based on this optimism. They feel Hoskinson will position Cardano to gain more than many projects. He will also have a <a href="https://x.com/oroogle/status/1857533403656057320" target="_blank" rel="noopener noreferrer nofollow">positive influence</a> over the White House Crypto Policy.
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 <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a>‘s <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> token has skyrocketed to 90 cents with on-chain data signaling the involvement of whales and institutions. reports <a href="https://twitter.com/godbole17?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@godbole17</a><a href="https://t.co/2hKQWcq46c" rel="noopener noreferrer nofollow">https://t.co/2hKQWcq46c</a>
 — CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1859881968680218668?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 22, 2024</a>
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One of the biggest policy proposals Trump is considering is no capital gains tax on crypto issued by US projects. It’s hard to picture a project whose leader is in deep helping positively influence crypto policy. Then that project does NOT benefit from the influence? Unlikely.
Cardano is in an amazing position right now, thanks to Hoskinson. And in a move that is great for the industry and very unselfish, Hoskinson just endorsed Coinbase CEO <a href="https://www.altcoinbuzz.io/?s=Brian+Armstrong" target="_blank" rel="noopener noreferrer nofollow">Brian Armstrong</a> for a role on the crypto policy team as well. All these things are VERY bullish for crypto in the US so far.
We have no evidence but thanks to Hoskinson and Cardano working closer with Bitcoin, there is reason to think Hoskinson is also in favor of the Bitcoin Reserve. Sen Lummis from Wyoming has an active proposal on that now.
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 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> US Senator Cynthia Lummis unveils Strategic <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Reserve plan
 The proposal includes a bold initiative: a Bitcoin purchase program aiming to acquire 1M <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> within five years.
 Absolute giga, ultra BULLISH <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/18FePzymjN" rel="noopener noreferrer nofollow">https://t.co/18FePzymjN</a>
 — Coindisco (@coindisco) <a href="https://twitter.com/coindisco/status/1859929975069306880?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 22, 2024</a>
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More on Cardano and Bitcoin coming up in just a second. I promise. There are many controversial opinions about him. Yet, having <a href="https://www.altcoinbuzz.io/?s=Charles+Hoskinson" target="_blank" rel="noopener noreferrer nofollow">Charles Hoskinson</a> with a seat at the table to represent the industry is a big positive.&nbsp;
<h5>Bitcoin Layer 2</h5>
One thing many of you may not know or remember about Cardano is how compatible it is with <a href="https://www.altcoinbuzz.io/?s=Bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>. Cardano is one of the few chains aside from Bitcoin, Litecoin, and the Bitcoin forks like BCH that use the UTXO model. UTXO (Unspent transaction outputs) are where your outputs show your “change”. Like when you give a $20 bill for something that is $12 and you receive $8 of change. That $8 is your unspent output.
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 BREAKING: BitcoinOS Co-Founder Edan Yago says “<a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a>‘s designed to be the best smart contract layer for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>, because <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a>‘s UTXO based (EUTXO), instead of account based. You can move <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> into Cardano and execute there, or execute Cardano smart contracts on Bitcoin.” <a href="https://t.co/fJb7i3rLam" rel="noopener noreferrer nofollow">pic.twitter.com/fJb7i3rLam</a>
 — Angry Crypto Show (@angrycryptoshow) <a href="https://twitter.com/angrycryptoshow/status/1859736377560113275?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
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This is very different from the account model everyone else uses. If you have $20 USDT on any EVM network, and you send $12 to someone else to pay for something, you have a new account balance of $8. There are lots of benefits to using the UTXO model. But the most obvious for Cardano is that it can seamlessly integrate things with Bitcoin.
And that’s what it is doing. Cardano will be <a href="https://x.com/Ordinal_News/status/1851054584204042384" target="_blank" rel="noopener noreferrer nofollow">acting</a> as a Bitcoin Layer 2. It will be a smart contract layer for Bitcoin. The Bitcoin OS allows for programmability and more between the Bitcoin and Cardano chains. People LOVE this integration. You are already seeing the marketing and branding of Cardano as smart contracts for Bitcoin or the DeFi layer for Bitcoin.
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 BOS will let you cryptographically move your BTC into Cardano, OR have Cardano smart contracts execute on Bitcoin.
 It’s your choice.
 This flexibility makes Cardano, arguably, the best smart contract layer for Bitcoin. <a href="https://twitter.com/hashtag/UTXBros?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#UTXBros</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f91d.png" alt="🤝" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f535.png" alt="🔵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/iqsXiS0eHV" rel="noopener noreferrer nofollow">pic.twitter.com/iqsXiS0eHV</a>
 — BitcoinOS (@BTC_OS) <a href="https://twitter.com/BTC_OS/status/1859611019204583487?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
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This is a GREAT move for Cardano and one of the explanations for its great recent performance. Cardano already has some positives, like a super high % of stakers of ADA, and a loyal, active community. What it also has been is relatively isolated from other chains. And that’s hurt adoption growth. Now that critique will be going away.
<h5>More About Bitcoin Layer 2</h5>
Bitcoiners will find safe, new, and compatible ways to use their Bitcoin and both communities should grow as a result of working together. It seems the only downsides of a deal like this are for existing Bitcoin Layer 2’s. Then again, Ethereum has a ton of Layer 2’s and there will be more than one winner there. And that can happen in Bitcoin as well.
This Cardano move helps bring Hal Finney’s Bitcoin Banks idea alive and move it forward. Finney’s argument (RIP) used the term Bitcoin Banks for what we commonly call Layer 2 solutions. The idea is eventually Bitcoin’s price will go so high and its corresponding fees, too. Then Bitcoin will only be doing very large value transfers. Smaller transactions will no longer be worth it.
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 Since we are almost at the dawn of these highly debated <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> ETFs, it might be somewhat fitting to read Hal Finney’s take on ‘Bitcoin Banks’. <a href="https://t.co/akprDo8DpE" rel="noopener noreferrer nofollow">pic.twitter.com/akprDo8DpE</a>
 — John W. Creasy (@21milinfinity) <a href="https://twitter.com/21milinfinity/status/1743548377638572442?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 6, 2024</a>
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Ethereum Layer 2’s batch of many small transactions together to settle on Ethereum. And this is what will happen to Bitcoin. With Bitcoin’s price ready to break $100,000 each, Hal’s argument becomes more prescient every day. Bitcoin Layer 2’s like Cardano will settle many <a href="https://medium.com/@jamesowen.dev/ethereum-layer-2-scaling-solutions-zero-knowledge-and-optimistic-rollups-explained-ab4eebadca76" target="_blank" rel="noopener noreferrer nofollow">smaller transactions</a> and then use the Bitcoin Network for final settlement later.
And Bitcoin has a big edge over ETH and EVM. Instead of using stablecoins, we will have the most pristine collateral in the world backing this system.
<h5>Still Strong Fundamentals</h5>
These developments in the previous sections are huge. And it’s why Cardano is regaining people’s attention now. But it’s important to remember Cardano still has some great fundamentals too. Of the 35.7 billion in circulating supply, ADA holders <a href="https://cardanoscan.io/" target="_blank" rel="noopener noreferrer nofollow">stake</a> 22.8 billion or 63.8% of all ADA. And they are long-term holders at that.
There are so many long-term stakers that Cardano has a unique fundraising mechanism. It’s called the ISPO. In an ISPO, stakers give up a part of their <a href="https://www.coingecko.com/en/coins/cardano" target="_blank" rel="noopener noreferrer nofollow">ADA</a> rewards to fund the new token. It’s pretty cool and we covered them extensively a couple of years ago like here.
And lastly, and super important in a volatile industry like ours, Cardano is a survivor. Its price performance reflects these improvements and changes. Cardano’s amazing last 30 days have brought all holders of the last year into profit. It’s grown over 100% in the last 14 days even.
Its bear market low of 24c was in January 2023 and holders since then have made over 240% ROI in that time. How high can it go this cycle? Some see another 3x in the cards to over $4. Others say $10 is possible. That would be a 9x. And many of the predictions coming from Crypto X are somewhere in between.
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 Your <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> sits at $1 – up 200% in a month And this run is just getting started
 Your <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> is also going to $3
 It’s going to $7
 If you think it’s not going to $10 an <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> -you might not be seeing the insane bullish narrative in crypto and <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> right now
 It’s coming
 — ADA WON’T BE UNDERVALUED FOREVER (@ADA_ONEVETCOTI) <a href="https://twitter.com/ADA_ONEVETCOTI/status/1860826305505480970?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 24, 2024</a>
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Way back a year ago, we said the same thing of up to $8-$10. How high do YOU think it will go? Let us know in the comments below. Cardano is coming back into the spotlight. Don’t fade it. You might lose out.
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<h6>Disclaimer</h6>
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/cardano-ada-set-for-a-massive-comeback-in-2025/" rel="noopener noreferrer nofollow">Cardano (ADA) Set for a Massive Comeback in 2025</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.

Cardano (ADA) Set for a Massive Comeback in 2025

Altcoin Buzz

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