Cardano Founder Charles Hoskinson Outlines ADA Ecosystem Future and Midnight's Market Potential

Source: CryptoNewsNet Original Title: Cardano (ADA) Founder Charles Hoskinson Discusses the Future of ADA, XRP, and His Newly Launched Altcoin Original Link: https://cryptonews.net/news/defi/32196496/ Cardano (ADA) founder Charles Hoskinson shared a comprehensive assessment of the Cardano ecosystem’s current state and roadmap, offering noteworthy predictions for both Cardano and the new Tier 2 solution Midnight (NIGHT).

DeFi Growth Outlook

According to Hoskinson, significant improvement in Cardano’s DeFi metrics is expected next year. With major integrations rolling out, Bitcoin and XRP-based DeFi flows are anticipated to move towards Cardano networks, strengthening the ecosystem in terms of liquidity and usage.

On-Chain Governance Leadership

Hoskinson placed special emphasis on Cardano’s governance structure, arguing that Cardano currently has the largest on-chain governance system in production. Approximately 1.5 billion ADA tokens, governed by an on-chain constitution, form the heart of this structure. According to Hoskinson, this model sets a significant example in the industry for decentralized and transparent decision-making processes.

Midnight’s Strategic Potential

Regarding the Midnight project, Hoskinson stated that traditional banks could eventually add a Midnight bridge to their own blockchains, provided this is done on a level playing field for everyone, in accordance with fundamental Web3 principles. Despite being in its early stages, Midnight has gained remarkable momentum and has become Cardano’s first native asset to trend above Bitcoin and Ethereum.

Hostkinson highlighted Midnight’s potential for cross-ecosystem integration. Adding Midnight to the XRP DeFi space would create significant competitive pressure for traditional banks, while its integration with Bitcoin would bring Satoshi Nakamoto’s vision of global finance closer to reality. Within the Cardano ecosystem specifically, Hoskinson claimed that Midnight’s scalable and privacy-focused DeFi solutions could increase monthly active users, transaction volume, and total value locked (TVL) by approximately tenfold.

Distribution Milestone

On the distribution side, Hoskinson noted that the NIGHT token has reached approximately 1.5 million unique users, which he considered a remarkable achievement.

Untapped DeFi Markets

Hoskinson also touched upon the broader Bitcoin DeFi market, noting that in some ecosystems, approximately 20% of the volume is Bitcoin-derived. He stated that the Litecoin, Dogecoin, Bitcoin, and XRP DeFi spaces remain largely untapped, offering trillions of dollars in long-term opportunities. According to Hoskinson, Cardano has a significant competitive advantage in this area thanks to its accounting compliance capabilities.