Charles Hoskinson Explains What Is Needed for a Bullish Scenario in the Cardano (ADA) Price

Source: CryptoNewsNet Original Title: Charles Hoskinson Explains What Is Needed for a Bullish Scenario in the Cardano (ADA) Price Original Link: Cardano founder Charles Hoskinson stated that the integration of the privacy-focused Midnight into the Cardano ecosystem could create a strong bullish scenario in terms of network growth and token valuation.

According to Hoskinson, if the first 10-15 decentralized applications (dApps) on Cardano transition to a hybrid dApp architecture and gain privacy features with Midnight, it could generate a significant influx of users, particularly from the Bitcoin and XRP ecosystems. He stated that this would significantly improve key metrics for the Cardano network, such as usage, activity, and adoption.

Hoskinson argued that this development would create a positive valuation environment not only for the mainnet token ADA, but also for tokens belonging to dApps on Cardano. He noted that there is currently a significant price mismatch between ADA and Cardano’s native token ecosystem, but argued that this gap would close over time, creating a “rising tide” effect for both sides.

Hoskinson stated that the most important element Midnight brought to Cardano was the advantage of being the first to move on a new privacy-based paradigm, but added that Midnight should also stand on its own feet as an independent network. According to Hoskinson, Midnight aims to generate long-term value by opening up its privacy infrastructure not only to Cardano but to the entire cryptocurrency ecosystem.