- Charles Hoskinson, the founder of Cardano, recently recommended that Musk should develop a decentralized cross-chain media platform.
- To ensure true decentralization, Hoskinson suggested a cross-chain with Bitcoin, Dogecoin and Cardano.
- Analysts are bullish on Cardano, predicting a rally in the Ethereum-killer altcoin.
Cardano price is on track to breakout, as founder Charles Hoskinson suggests the development of a decentralized media platform. Hoskinson’s message was a response to Musk’s attempt to take over Twitter in a hostile manner.
Cardano price prepares for a rally
Cardano price is on track to break out as the altcoin’s adoption among investors increases. There was a recent increase in on-chain activity on the Cardano blockchain network, with the arrival of leading stablecoins USD Tether and USD Coin through the WingRiders Disk and Milkomeda partnership.
The rising activity and capital inflow could fuel a bullish narrative among investors.
In response to Elon Musk’s attempt to take over Twitter, Charles Hoskinson, the founder of Cardano, recommended that the Tesla CEO develop a decentralized social media platform. Hoskinson suggested that the decentralized media platform should be a cross-chain between Bitcoin, Doge and Cardano.
Cross chain with Bitcoin, Doge, and Cardano https://t.co/6Q8bJgaCY9
— Charles Hoskinson (@IOHK_Charles) April 15, 2022
The development of a media platform that utilizes Cardano would increase altcoin adoption.
Analysts have evaluated the Cardano price trend and predicted a rally in the Ethereum-killer. Based on data from IntoTheBlock, the most significant support level for Cardano sits around $0.92, where nearly 44,800 addresses hold more than 6.79 billion ADA. If Cardano price plummets lower, it could witness a drop to $0.80.
FXStreet analysts predict an 80% rally in Cardano price. Analysts expect the inverse head and shoulders pattern to play out a fuel Cardano’s price rally.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Bitcoin and altcoins are hit by biggest crypto hack in history
Bitcoin holds steady above $95,000, while crypto market capitalization excluding BTC decreases to $1.18 trillion on Monday. Analysts note that institutional interest in Bitcoin is likely overestimated through inflow data since it includes nearly 56% of BTC tied to arbitrage strategies.

Bitcoin Price Forecast: BTC standoff continues
Bitcoin has been consolidating between $94,000 and $100,000 since early February. Amid this consolidation, investor sentiment remains indecisive, with US spot ETFs recording a $540 million net outflow last week, signaling institutional demand weakness.

Solana drops below $160, liquidating $26 million in leverage as negative funding rate weighs in
Solana price extends its decline and trades around $160 on Monday after falling over 11% last week. The recent correction in SOL has triggered a wave of over $26 million in liquidations in the last 24 hours and $110 million last week.

Dogecoin Price Forecast: DOGE bears remain strong despite Elon Musk’s endorsement
Dogecoin extends its decline, trading around $0.23 on Monday after falling 8.55% last week. Coinglass’ long-to-short ratio for DOGE reads below one, indicating more traders are betting for a correction while the technical outlook projects a pullback toward the $0.20 level.

Bitcoin: BTC demand and liquidity conditions remain weak
Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.