A naukri.com initiative
TronWeekly
1d
236
Image Credit: TronWeekly
Cardano Bridges to Bitcoin With Minswap Leading DeFi Transformation
- Minswap is set to become the first DEX on Cardano to enable Bitcoin trading, leveraging its liquidity and smart contract advantage.
- Minswap holds over $83 million in TVL, representing more than 25% of Cardano’s DeFi sector, leading in Bitcoin integration.
- Analysts predict a bullish breakout for ADA with price targets up to $5.35 if it surpasses resistance levels at $0.70–$0.77.
- Charles Hoskinson unveiled the Cardinal Protocol aiming to bring Bitcoin DeFi capabilities to Cardano.
- The protocol intends to unlock Bitcoin DeFi potential, addressing technical hurdles with Cardano's UTXO model.
- The Cardinal Protocol opens up a trillion-dollar opportunity by introducing Bitcoin liquidity to Cardano dApps.
- Minswap's early lead may increase trading volume and protocol revenue with the addition of Bitcoin support.
- Cardano's infrastructure improvements position ADA to test significant resistance levels.
- Analysts forecast a bullish trend for ADA, with targets as high as $5.35 in a potential bull run.
- Strong support for ADA is seen around $0.63–$0.67 while facing resistance around $0.70–$0.77.
- Market analysts suggest a bullish trend for ADA if it continues moving above $0.77.
- Crypto analyst Crypto Winkle anticipates a sharp move to $1.60 if ADA breaks decisively above $0.70.
- Minswap's Bitcoin integration and Cardano's advancements set the stage for greater BTC utilization in DeFi.
- Cardano's ecosystem prepares for significant growth with Bitcoin DeFi capabilities and potential ADA price movement.
- The confluence of Minswap's support for BTC and Cardano's cross-chain features creates opportunities for early adopters in DeFi.
- The web story eligibility for this news article is true as it covers significant developments in the Cardano ecosystem and potential impacts on ADA's price.
Read Full Article
14 Likes
For uninterrupted reading, download the app