Cardano founder Charles Hoskinson has yet again captured the crypto community’s attention with a bold statement.
In a recent X post he declared, “Cardano is going to break the internet,” sparking debate and widespread discussion across social media. His statement also drew reactions from notable figures outside the crypto world.
NBA legend, Scottie Pippen also reacted to the tweet saying “BULLish”.
Hoskinson’s statement was met with a mix of criticism and support. One of the users noted that “Cardano can’t even break resistance,” while another pointed out that despite a huge community and $14.8B market cap, the price is still 80% below its all-time high. “Breaking the internet needs real dApp traction,” the user added.
Others defended Hoskinson, explaining that he was referring to real technology, and not price movements. He emphasized that what he is building is useful and the technology is going to be utilized everywhere.
Hoskinson recently revealed that Cardano has launched a “follow-the-sun” development model to fast-track the Ouroboros Leios upgrade. This approach allows teams across different time zones to work in shifts, keeping development running around the clock.
First unveiled in 2022, Leios is a major upgrade, designed to dramatically boost transaction speed while keeping the network fully decentralized. Hoskinson stressed its importance, calling the upgrade “competitively necessary” and highlighting the urgency for it to be adopted quickly.
Meanwhile, Midnight’s Glacier Drop has distributed over 2.4 billion NIGHT tokens, more than 10% of the total supply. By including participants from eight major blockchains like Cardano, Bitcoin, Ethereum, and Solana, Midnight is creating a foundation for cross-chain collaboration from day one.
This remark also follows his recent trip to Washington D.C., He shared that “great progress” is being made on crypto market structure legislation, which is expected to pass this year.
Recently, the SEC approved Grayscale’s Digital Large Cap Fund (GDLC). This fund gives investors exposure to Cardano along with Bitcoin, Ether, XRP, and Solana. The move comes as part of the agency’s effort to speed up approvals for crypto-related investment products.
Nate Geraci, President of the ETF Store believes that index-based and actively managed crypto ETFs like this one will be in high demand, especially among financial advisors. Cardano ETF approval odds also have now reached 90% on Polymarket.
Cardano is making big moves both technologically and in the regulatory space. With major upgrades and growing interest, its future looks promising.
Ouroboros Leios is a major technical upgrade for Cardano designed to significantly increase transaction speed and network capacity, making the blockchain more efficient for global use.
The Glacier Drop is a token distribution event from the Midnight project, which is a sidechain to Cardano focused on privacy. It distributed 2.4 billion NIGHT tokens to participants across eight different blockchains.
Yes. The recent SEC approval of Grayscale’s Digital Large Cap Fund, which includes Cardano, and Polymarket odds of 90% indicate growing confidence that a dedicated Cardano ETF will be approved soon.
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