Cardano Founder Charles Hoskinson has shared focus areas for the community as to what to expect from Input Output Global (IOG) next year. Charles Hoskinson highlighted Bitcoin DeFi through his official X account as the first task to address. While the list is not chronological, the protocol’s focus on Bitcoin is considered one of its biggest agendas for the coming year.
Cardano eyes mainstream partnership
The Cardano founder highlighted the protocol’s other focus, including Midnight and Partnerchains. All year long, the Cardano ecosystem has focused on developing the Midnight Network, a protocol it believes is essential to restoring privacy-centric innovation in Web3.
Next year, Cardano is going to heights it’s never been before. We got Bitcoin DeFi, Midnight, Patnerchains, all the DApp upgrades, Midgard, and some extra magic that we’ll call “the fire rises” pic.twitter.com/ITI6S7mHun
— Charles Hoskinson (@IOHK_Charles) December 31, 2024
In addition, Cardano has highlighted its complete focus on Partnerchains as a means of expanding the blockchain ecosystem further. One of the protocols it attempted to woo as a partnerchain is Algorand. While there has been no confirmation of a partnership in recent months, the possibilities remain open in 2025.
Charles Hoskinson and Ripple CTO David Schwartz have also recently discussed Midnight Network and XRP. Many in the community speculate that a potential partnership might be in the works.
Meanwhile, Cardano also plans to focus on all the dApp upgrades, Midgard and what Charles Hoskinson said is some extra magic called “the fire rises.”
ADA price: Bottom line
Amid the planned upgrade, the community is also partly focused on the impact on the price of ADA, the blockchain’s native token.
At the time of writing, the coin was changing hands for $0.8567, down by 2.11% in the past 24 hours. Cardano’s price drawdown is not a function of lack of utility or liquidity; it is based on its correlation with Bitcoin.
Overall, the planned upgrades are poised to enhance the attractiveness of Cardano as a protocol, fuel the adoption of ADA, and set the pace for price growth in the long term. In the short term, ADA price has the historical backing to reclaim $1.20 in the coming weeks.
