Cardano founder Charles Hoskinson has addressed questions about why ADA’s price isn’t rising, even as Midnight, a Cardano-linked project, has grown in popularity. This week, Midnight topped CoinGecko’s list of trending cryptocurrencies, briefly outperforming major names in online interest. Hoskinson said Midnight could play a big role across the crypto ecosystem. He suggested Midnight’s integration with XRP-based DeFi could challenge traditional banks, and connecting it to Bitcoin could help unlock Satoshi Nakamoto’s vision.
For Cardano itself, he said Midnight could significantly boost DeFi, potentially increasing users, transactions, and total value locked by tenfold through large-scale private DeFi, describing this phase as the arrival of a ‘fourth generation’ of blockchain technology. Despite the optimism, ADA’s price remains weak.
One community member directly asked Hoskinson why Cardano’s price is not moving, even with strong developments and growing attention. He said there is no mojo left in the cryptocurrency markets, with value extractors, scams, hacks, bad news, and manipulation having left them broken and angry, and that a few months of cooling off may be needed. Hoskinson noted that markets are currently ‘broken, brittle, and angry’ and need time to cool down before real value can return, with confidence potentially taking several months to rebuild. At the time of writing, ADA trades below $0.40, having gained about 3% in the last 24 hours, and it remains in a clear downtrend with no strong reversal signals yet.
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