Cardano’s price is on the rise as inventor Charles Hoskinson advocates the creation of a decentralized media platform. Hoskinson’s comment was retaliation for Musk’s aggressive takeover of Twitter.
Cardano’s price is preparing for a surge.
Cardano’s price is expected to rise as the altcoin’s popularity grows among investors. With the launch of prominent stablecoins USD Tether and USD Coin via the WingRiders Disk and Milkomeda cooperation, there has been a notable spike in on-chain activity on the Cardano blockchain network.
Rising activity and capital inflows may feed an optimistic narrative among investors.
In response to Elon Musk’s attempt to take over Twitter, Cardano creator Charles Hoskinson suggested that the Tesla CEO create a decentralized social media site. Hoskinson proposed that the decentralized media platform be a cross-chain of Bitcoin, Dogecoin, and Cardano.
Twitter link: https://bit.ly/3vI3Zq3
The creation of a Cardano-powered media platform would boost cryptocurrency acceptance.
Analysts have assessed the Cardano price movement and forecast an increase in the Ethereum-killer. According to IntoTheBlock statistics, the most significant Cardano support level is around $0.92, where roughly 44,800 addresses hold more than 6.79 billion ADA. Cardano’s price might fall to $0.80 if it falls further.
Cardano’s price is expected to rise by 80%, according to FXStreet experts. Analysts anticipate that the inverse head and shoulders pattern will accelerate Cardano’s price increase.