Cardano ADA: Founder Hoskinson Endorses Midnight Network’s Multi-Chain Breakthrough

Charles Hoskinson, the visionary founder of Cardano, has publicly praised a groundbreaking development that enhances the multi-chain capabilities of the privacy-centric Midnight Network. This sidechain, which is set to launch soon, has generated substantial excitement within the cryptocurrency community. Collaborating with Paima Studios, Midnight is pioneering hybrid decentralized applications (dApps) designed to facilitate seamless multi-chain functionality. This innovation is seen as a foundational step toward cooperative economics, further solidifying Cardano's position in the evolving blockchain ecosystem. As of July 2025, the crypto market eagerly anticipates the potential impact of this development on Cardano's native token, ADA, and its future valuation.

Cardano Founder Praises New Midnight-Affiliated Explorer as Foundation for Cooperative Economics

Charles Hoskinson, founder of Cardano, has endorsed a pivotal development enhancing the multi-chain capabilities of the privacy-focused Midnight Network. The sidechain, poised for launch, has drawn significant anticipation from the crypto community.

Paima Studios, a collaborator with Midnight, is developing hybrid decentralized applications (dApps) to enable multi-chain functionality. Sebastien Guillemot, co-founder of Paima Studios, showcased a prototype of the Paima Explorer, which visualizes cross-chain smart contract interactions. The tool aims to simplify developer engagement with multi-chain data and state machine updates.

The partnership between Midnight and Paima Studios initially focused on bringing ethereum Virtual Machine (EVM) compatibility to Cardano's ecosystem. This integration is expected to broaden interoperability and developer adoption.

Potential Benefits of RLUSD Integration Into Cardano Outlined by Analyst

Cardano founder Charles Hoskinson confirmed ongoing discussions with RLUSD developers about bringing the stablecoin to the Cardano blockchain. The integration, if realized, could significantly impact Cardano's ecosystem.

Analyst Merlijn The Trader highlighted three key benefits: new liquidity providers could enhance market depth, RLUSD's presence might improve decentralized exchange liquidity, and yield farming opportunities could expand. These developments WOULD likely strengthen Cardano's position in the DeFi space.

The talks follow Hoskinson's May 24 livestream where he addressed potential RLUSD launch timelines, noting initial meetings had already occurred between the teams. Market observers anticipate this integration could drive increased activity across Cardano-based platforms.

Cardano (ADA) Price: Support Holds – Can Bulls Spark the Next Move?

Cardano's ADA has entered a consolidation phase after retreating from the $0.590 resistance level, with traders closely monitoring key technical levels for signs of a potential bullish reversal. The cryptocurrency maintains crucial support above $0.560, defended by a rising trendline at $0.5640 that aligns with the 76.4% Fibonacci retracement of its recent upward move.

Market structure shows promising signs as ADA establishes higher lows, bouncing from $0.51 support before forming a recent base at $0.545. The 100-hour moving average continues to provide dynamic support while weakening bearish momentum is evidenced by the RSI's higher lows. A decisive break above the $0.5820-$0.590 resistance zone could catalyze movement toward $0.620, potentially confirming a structural shift in favor of bulls.

Cardano’s Confidence Crisis, Will ADA Price Slip Below $0.52?

Cardano closed June 2025 with a 16% decline, defying positive ecosystem developments such as the cbETH cross-chain bridge launch and ADA's integration into Coinbase's Base L2. Investor confidence waned as $182 million flowed out, sentiment soured, and only 46% of holders remained profitable. Grayscale's proposed U.S. cardano ETF could reverse the trend by attracting institutional interest.

On-chain metrics paint a bleak picture: Active Addresses plummeted from 24,000 to under 18,000 by June 21, signaling dwindling user engagement. Despite network upgrades, retail participation failed to rebound, exposing a rift between expansion and adoption.

ADA trades at $0.5590, down 1.02% daily and 3.81% weekly. The token teeters NEAR a critical support level at $0.5235, with market sentiment remaining cautious amid fading momentum.