Charles Hoskinson Discusses Cardano and Bitcoin Adoption, ADA Soars

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Charles Hoskinson Discusses Cardano and Bitcoin Adoption, ADA Soars

Cardano ADA $0.68 24h volatility: 6.9% Market cap: $24.51 B Vol. 24h: $763.38 M founder Charles Hoskinson recently revealed bold plans to integrate Bitcoin BTC $84 275 24h volatility: 3.5% Market cap: $1.67 T Vol. 24h: $28.54 B into the DeFi landscape. During a recent interview, Hoskinson stated that fiduciary obligations will compel institutional investors to explore Bitcoin-based DeFi solutions.

Cardano founder envisions a three-year timeline for large institutions to establish themselves in the Bitcoin DeFi space, facilitated by Cardano’s unique infrastructure. He highlighted how a Bitcoin ETF offering DeFi yields could increase shareholders’ demand.

Can Cardano Supercharge Bitcoin? @IOHK_Charles Reveals All

➡️BRAND NEW VIDEO: pic.twitter.com/FyNEnbmrXL

— The Wolf Of All Streets (@scottmelker) March 31, 2025

Hoskinson explained that Cardano aims to integrate its Hydra scaling solution with the Bitcoin Lightning Network to bridge the gap between Bitcoin and DeFi. This creates a trustless recursive bridge between the two ecosystems.

Moreover, the Cardano network’s Aiken programming language will allow developers to write both Bitcoin and Cardano scripts, according to Hoskinson. He also talked about Cardano’s partnership with Maestro, an infrastructure provider specializing in Bitcoin integration with UTXO-based blockchain, to ensure a seamless user experience.

Notably, while Hoskinson acknowledged that these are still the early days of Bitcoin DeFi, he assured that progress is being made steadily. He believes that Cardano’s DeFi framework can propel Bitcoin into new utility frontiers.

Hoskinson aims to enable Bitcoin holders to interact with DeFi applications using BTC alone. He claims this innovation could outscale Ethereum and Solana’s combined DeFi ecosystems.

ADA Price Outlook

Meanwhile, Cardano’s native token ADA has recorded a 1.5% growth in its price after a struggling time. After losing 10% in a week, ADA dipped below the crucial $0.664 support level on March 31. However, it has since shown signs of recovery, climbing to $0.673.

The token remains the ninth-largest cryptocurrency, boasting a market capitalization of $23.74 billion, according to CoinMarketCap data.

On the daily ADA price chart, the RSI hovers around 42, indicating neutral momentum but leaving room for a potential upside.

Bollinger Bands show that ADA recently touched the lower Bollinger band, signaling a possible reversal if buying pressure increases. If the token manages to break the middle band (20 day SMA), traders could see a breakout above $0.72.

Meanwhile, the MACD is showing a slight bearish crossover, suggesting caution in the short term. Immediate resistance lies near $0.685, while strong support sits at $0.650.

Bullish Pattern Spotted

Popular crypto analyst Rjt Wagmi recently noted on X that ADA seems to be forming an ABCDE triangle pattern on the 6-hour price chart, suggesting that a major breakout could be on the horizon.

Cardano loading up. ABCDE triangle in play. C wave down now, D & E next.

A bounce from the 0.5-0.618 Fib zone could set up a massive move to $1.5.

This is where OGs buy. You know the drill.$ADA is waking up… send it! 🚀 pic.twitter.com/R0emKapzVG

— RJT. WAGMI (@RJT_WAGMI) March 31, 2025

He explained that currently the “C” wave is in play and if the pattern holds, ADA could see a bounce from the key 0.5-0.618 Fibonacci retracement zone, setting the stage for the final “D” and “E” waves.

Wagmi suggests that this pattern, if validated, could send ADA toward $1.50 in the coming weeks.

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Charles Hoskinson Discusses Cardano and Bitcoin Adoption, ADA Soars