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

This week, the crypto industry is enjoying a moment, with the global 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 enjoying a brief run for a few days. Then there’s Cardano, which gets extra attention while enjoying a range between $0.34 and $0.36.

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

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

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

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

Charles Hoskinson, Cardano’s founder, wholly agreed with Nebulor’s take on 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’s partnership with BitcoinOS will give members access to Bitcoin’s liquidity and enhance the ecosystem’s DeFi capabilities. The partnership makes ADA the first Layer 1 chain to use the BitcoinOS technology.

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

Meanwhile, market-wise, things aren’t looking great for ADA. As mentioned, the digital asset is currently trading at a range, and it’s only up by 3% over the last 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