That’s Charles Hoskinson, founder of Cardano, talking about his project. Hoskinson isn’t one to hype things up like many project founders.
So why is he so bullish on Cardano? And is it justified? Let’s find out together today.
Joining Trump Crypto Policy Team
One reason Charles Hoskinson is so bullish on Cardano is the incoming Trump White House. Trump has said a few times he will have a Crypto Policy Team. That vision is becoming clearer now. Hoskinson will not only be on this team, but he may be organizing the team for the Trump administration. That’s bullish for the whole industry and Cardano specifically.
President-elect Donald Trump is creating a 24-person crypto council to shape the digital future.@IOHK_Charles discusses his involvement in organizing the team, which will collaborate with the CFTC, SEC, and Treasury. pic.twitter.com/pjr2rWIlRq
Trump believes that pro-crypto policy is also pro-US Dollar policy. And he’s right. Stablecoins help maintain the USD’s reserve currency status. One great explanation for why is in part of this talk Hoskinson recently gave on when countries adopt crypto.
Cardano’s stablecoin growth is moving fast, too. For a long time, it was only $DJED that was available. But now, native minted $USDM is doing well. There are bridged versions of USDC and USDT from our friends at Wanchain, too.
Overview of major stablecoins in the Cardano ecosystem.
We have several types of stablecoins: USD-backed USDM, overcollateralized DJED and MyUSD, synthetic iUSD, and USDC and USDT bridged via WanChain Bridge.
And bottom line, Trump will have a policy team on crypto. Charles Hoskinson will be an integral part of making that happen and what that team presents as important to the Trump administration.
Ripple
Ripple and XRP have been EVERYWHERE recently. We even did a video on them just yesterday. Continuing with this stablecoin argument, Ripple has their own stablecoin $RLUSD. It’s growing fast, too. Some of that is due to regulatory issues with USDT in Europe. But some are also due to more countries and banks adopting Ripple’s XRPL, the XRP Ledger. This is the native stablecoin for that ledger.
Cardano founder @IOHK_Charles confirms talks with @Ripple to integrate $RLUSD to the Cardano blockchain!
The integration aims to boost @Cardano‘s DeFi capabilities, add new users & strengthen its stablecoin ecosystem pic.twitter.com/nIgupEgpeC
So this news that Ripple and Cardano are working together is a big deal for fans of both chains. Then add to that the potential for $RLUSD to become the top alternative to Tether and USDC and its integration into Cardano. We’ve seen with all the EVM chains that you need stablecoins:
For trading.
For liquidity.
As a place to park the coins you aren’t using while keeping them in your ecosystem.
And to be fair, Cardano has not had much of this. They counter this lack of stablecoins with a super high % of staked ADA as a sign of commitment from their community. Cardano has a very high 60% of its supply in staking right now. Its staking market cap, as shown here at Staking Rewards is #4 of all projects at over $21 billion. People are committed. And people will invest more and keep assets on Cardano longer with more stablecoin options like $RLUSD.
Privacy + RWA = Bullish
Then there is Cardano’s work in the privacy market. The big project here is Midnight. Midnight works seamlessly as a privacy layer not just for Cardano. It adds privacy to Solana and Ethereum as well. Midnight works as a sidechain for Cardano.
Plus, considering Cardano’s recent work at becoming a Layer 2 for Bitcoin so it can have better smart contracts, Midnight could become compatible with Bitcoin as well. Listen to what Hoskinson has to say here about the potential of privacy in the RWA market and how Midnight works in this market.
— St₳ke with Pride SPO & DRep (@StakeWithPride) January 7, 2025
We’ve known for some time that as much as we love what blockchain offers, there will be some limitations to how much it can grow without privacy. And it’s not privacy alone. As Hoskinson said in this clip, it’s privacy combined with compliance. There’s just no motivation to try to get on-chain if it’s both not private and the FCA or SEC won’t or can’t approve of the transactions. It’s too expensive and too much of a waste of time without these things.
Cardano’s Midnight is one of the big projects fighting hard to enable this for users regardless of chain.
Charles Learns to Play Nice
It used to be like a running gag on Crypto Twitter about who Charles Hoskinson would lash out at next. The old Charles loved to pick fights with other projects. He seemed to be of that mentality in the famous quote. Not only must I win but my opponents (or others) must lose. But things are VERY different now.
Hoskinson sees the value of cooperation and how many problems there are around the world that crypto can solve. Positive steps Hoskinson has made in the last 6-12 months include, aside from the Ripple integrations I brought up earlier:
And more. After years of keeping Cardano and $ADA isolated from everyone else and on their island, now they are building bridges (literally and figuratively) with other chains to work together. And everyone is benefitting. $ADA holders are some of the biggest winners with all this new activity. $ADA is up 77% in the last 12 months, and we think for all the reasons above that this is only the beginning.
Disclaimer
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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