Key Notes
- Cardano’s Charles Hoskinson spotlighted Cardano’s progress over the years and new Bitcoin DeFi push.
- The crypto pioneer has previously expressed confidence in the long-term prospects of the Bitcoin DeFi niche.
- Last year, the Bitcoin DeFi niche saw a significant valuation boost with over 2000% growth.
Cardano Founder, Charles Hoskinson, shared a post on X earlier on May 31, reaffirming the blockchain’s commitment to enabling Bitcoin DeFi. He views this move as a strategic step towards positioning Cardano as a leading cryptocurrency.
Cardano Forges Ahead With a Focus on Bitcoin DeFi
The X post made by Hoskinson acknowledged Cardano’s recovery and comeback from all the slanders thrown at it. This includes the claims of alleged treasury manipulation of more than $600 million in ADA during the Allegra hardfork that happened in 2021. Hoskinson spoke about the “tempest in the teacup,” referring to talks about Cardano decentralization and centralization risks.
Now that we are on the other side of the tempest in the teacup, the ecosystem can move on to higher ground with greener pastures. We have left behind slander brigades, disgruntled exes, and toxic energy vampires for Bitcoin DeFi, governance finally taking shape, Midnight, and…
— Charles Hoskinson (@IOHK_Charles) May 31, 2025
The Cardano founder stated that the network has moved past these allegations, with a new focus on boosting Bitcoin and Decentralized Finance push. In the ecosystem, there is a pivot towards governance and projects like Midnight, which hold privacy-focused features to ensure user protection. Based on its roadmap, the Layer-1 blockchain is also working on Leios and Midgard.
Recently, the Cardano founder has consistently expressed his strong convictions about Bitcoin DeFi. He perceives huge potential in the Bitcoin DeFi market while highlighting a new model for bridging to BTC without the need for Centralized Exchanges (CEXs).
Dubbed “DeFi mode,” Hoskinson shared a new model that could bring DeFi capabilities to the Bitcoin blockchain using Cardano’s network. Based on this premise, Hoskinson projects that Bitcoin will dominate other DeFi players in the domain within two to three years.
Bitcoin DeFi Drive Amongst Top L1 Blockchains
The concept of Bitcoin DeFi is making rounds across the broader crypto ecosystem. As it stands, Cardano wants to offer BTC users seamless access to DeFi applications on its network. Every interested user gets to tap into the $2.06 trillion liquidity of the flagship cryptocurrency.
Notably, the Bitcoin DeFi niche is gradually sliding into a new phase even after recording up to a 2000% increase in Total Value Locked (TVL) the previous year.
As part of the Bitcoin DeFi innovation, Ordinals can now bridge directly to the Cardano network. According to recent reports, the development directly connects two of the industry’s most prominent blockchains. It also aligns with a wider multichain strategy that holds the potential to unlock more than $1.5 trillion in DeFi opportunities.
A month ago, Layer-1 blockchain Sui Network hinted at a strategic integration of sBTC, the one-to-one Bitcoin-backed asset from Stacks. It is worth noting that this move is targeted at boosting Bitcoin DeFi. Markedly, sBTC is redeemable for 1 Bitcoin, and this distinct programmability makes it easy to interact with smart contracts and players in DeFi.
Like Cardano, Sui is keen on becoming a pioneer and the most significant player in the Bitcoin DeFi market. This competitive trend may compel each of these protocols to tap into their innovative communities to release BTC-tied products that users can gain value from.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
charles-hoskinson-reaffirms-commitment-to-bitcoin-defi-cardano-innovations
Leave a Reply