 
 
Charles Hoskinson, the founder of Cardano (ADA) and IOG, its development foundation, has excited ADA fans with an interesting post asserting that ADA is set to break the internet.
While he did not give any further details, the Cardano community seems to believe this is a bullish sign.
This statement comes after Hoskinson’s AMA session last month, where he expressed long-term optimism for Cardano’s prospects, citing the forthcoming Midnight Network — a project aimed at improving data privacy on the blockchain — as a major unlock for activity.
At the time, Hoskinson said he expected two potential tailwinds to shape crypto markets in the coming months: an interest rate cut by the US Federal Reserve and the potential passage of the Digital Asset Market Clarity Act (CLARITY).
Cardano, founded in 2015 and launched in 2017 as a competitor to Ethereum, is a proof-of-stake blockchain that relies on network validators to process transactions for ADA, its native currency, and maintain the network. It ranks as the 10th biggest crypto with a market cap of $33 billion at the time of this writing.
 
“Cardano Can’t Even Break Resistance”
Notably, Hoskinson’s post has attracted some scathing remarks from critics. One X user, going by the online alias DynamoXBT, pointed to ADA’s bleak price action in recent years.
“Cardano can’t even break resistance,” the user wrote.
ADA was trading hands at $0.9075 at press time, struggling below the $1 mark despite exchange-traded fund speculation. The coin has lost 70.6% since hitting its current lifetime high of $3.09 back in September 2021, CoinGecko data shows.
On Wednesday, the US Securities and Exchange Commission (SEC) introduced new generic listing standards that could accelerate spot cryptocurrency ETF approvals. The SEC also greenlighted Grayscale’s Digital Large Cap Fund, the first US multi-crypto asset exchange-traded product offering exposure to Bitcoin, Ether, XRP, Solana, and Cardano.
Source: https://zycrypto.com/cardano-is-going-to-break-the-internet-founder-charles-hoskinson-declares/