Cardano (ADA) Settles After Charles Hoskinson’s Lace Wallet News Trigger Price Spike

Cardano (ADA) Charles Hoskinson Lace wallet posing

Charles Hoskinson, the founder of Cardano, has announced that the ecosystem could grow to accommodate a billion users with the release of its new cryptocurrency wallet, Lace.

Cardano Ecosystem to get a New Wallet

In a recent interview, Charles Hoskinson, Co-Founder and CEO of Input Output Global (IOG) said that he believes that Lace, the new lightweight Cardano wallet, could take its ecosystem to one billion users. 

This is because Lace, which is currently in its beta stage, will seamlessly connect everything in Web 2.0 and Web 3.0 to a single interface. The all-in-one wallet will allow users to manage NFTs, DApps, and DeFi services in a single interface.

Price Expectation for Cardano (ADA)

Despite the cryptocurrency market still showing great strength, ADA trades sideways today after its 10% rally on Tuesday, October 25th, when it rallied to a two-week high at $0.415.

The three-day price chart for ADA. Source: CoinMarketCap

ADA currently trades at $0.406, and Santiment’s MVRV Z-Score for Cardano shows that the altcoin is undervalued. Already, ADA looks to be showing bullish signs, with the NFTs on the network recently growing by 300%.

With more than 1,000 projects currently being developed on Cardano and Lace, and the “world’s financial operating system” launching soon, ADA could embark on a major rally to touch $0.75 if macroeconomic conditions remain favorable for the crypto market.

On the Flipside

  • Commenting on the hotly debated topic of Ethereum’s classification, the Cardano founder noted that “now, it’s a proof-of-stake system” and that ETH is a security.

Why You Should Care

The projects in development on the Cardano network give ADA one of the biggest potentials for a massive price breakout before the end of the year.

Get updates on ADA’s listing on FTX below:
Sam Bankman-Fried Provides Update for Cardano (ADA) Listing on FTX

Find out more about Cardano’s development below:
Over 100 New Smart Contracts Added to Cardano Two Weeks After the Vasil Hard Fork

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).