ADA Is The Star, Cardano Founder Says, As Market Buzz Grows

This week, the crypto industry is having fun with a moment, with the worldwide market cap hitting $2.42 billion. Bitcoin, the world’s top digital asset, is leading the charge, with its price above $72,000 this Thursday. Other major altcoins have mixed results; Ethereum, Dogecoin, and Solana landed in reds today after having fun with a temporary run for a couple of days. Then there’s Cardano, which gets extra attention while having fun with a spread between $0.34 and $0.36.

Nebulor, a Cardano supporter, recently shared his sentiment on Twitter/X, saying that ADA is fast emerging because the “principal character” of the present bull cycle.

Cardano’s Charles Hoskinson wasted no time expressing his agreement with Nebulor in a separate post.

A Pro-ADA Post That Launched A Flurry Of Comments

For Nebulor, ADA, with its market cap of $12.45 billion, is currently the “principal character” on this ongoing bull market. The post immediately attracted loads of attention on social media, with a justifiable share of positive comments and others difficult Nebulor’s take.

Total crypto market cap currently at $2.3 trillion. Chart: TradingView

Some users agreed with Nebulor, saying something big would occur soon, and others found the opinion amusing. Among the many supporters on the thread, one commenter shared that ADA would surprise everyone, and one other mentioned that the Bitcoin integration was one of the best thing to occur to ADA. Others hit Nebulor for his attempt at publicity, and a few said that they had seen the script before.

Image: IQ.wiki

Cardano’s Hoskinson Agrees

Charles Hoskinson, Cardano’s founder, wholly agreed with Nebulor’s tackle ADA. He shared a funny GIF on Twitter/X, smiling and nodding, suggesting that he approves. Hoskinson’s followers immediately jumped in, saying that Cardano benefitted from its decision to integrate with Bitcoin.

https://t.co/qyRGF4PsFI pic.twitter.com/Yh8PsrXn2j

— Charles Hoskinson (@IOHK_Charles) October 30, 2024

Last week, Cardano collaborated with BitcoinOS (BOS) to facilitate Bitcoin’s smart contract development. With this partnership, DeFi developers can now enjoy BTC’s liquidity without intermediaries.

Cardano Ecosystem Continues Its Development

Cardano’s partnership with BitcoinOS will give members access to Bitcoin’s liquidity and enhance the ecosystem’s DeFi capabilities. The partnership makes ADA the primary Layer 1 chain to make use of the BitcoinOS technology.

Last month, Cardano also welcomed its most vital upgrade yet, making it community-owned. These are just a few reasons analysts like Nebulor see ADA as the following big thing.

Meanwhile, market-wise, things aren’t looking great for ADA. As mentioned, the digital asset is currently trading at a spread, and it’s only up by 3% over the past week, while BTC jumped by 8%. If we’re using year-to-date data, Cardano’s market value has dropped by 40%, while Bitcoin increased by 71%.

Featured image from Pexels, chart from TradingView