Cardano (ADA) is stepping into the institutional spotlight after being added to Nasdaq’s Crypto Index, joining the ranks of Bitcoin and Ethereum. This significant move signals growing recognition for ADA’s long-term value and innovation in the blockchain space.
One of the biggest headlines comes from Charles Hoskinson, Cardano’s founder, who recently proposed converting $100 million worth of ADA into Bitcoin and stablecoins to inject liquidity into Cardano’s DeFi ecosystem. While the proposal sparked heated community debate, it underscores an aggressive push toward DeFi growth.
Adding to the excitement, Cardano launched Cardinal, its first Bitcoin-backed DeFi protocol. This opens up new cross-chain opportunities and positions the network as a major player in multichain finance. Meanwhile, whales have accumulated over 310 million ADA, showing strong confidence despite short-term price fluctuations.
Currently trading at $0.636, ADA has seen a 3% recovery even after a 6% dip due to treasury governance talks. With 138,000 smart contracts deployed and the Midnight sidechain anticipated to trigger a major economic event by November, Cardano's roadmap is gaining serious momentum.