Cardano's Price Drops 4.031% Amidst Founder's Push for Crypto Unity

Cardano's latest price was $0.7972, down 4.031% in the last 24 hours. Cardano founder Charles Hoskinson has expressed his desire to end the tribal warfare within the cryptocurrency community. He plans to distribute tokens across 37 million wallets on eight different blockchains to foster cooperation. Hoskinson revealed this during his speech at Consensus 2025 in Toronto, highlighting the competitive nature of the crypto industry. He believes that the upcoming Glacier Drop for Cardano’s privacy-focused sidechain, Midnight, will play a crucial role in achieving this goal. The Glacier Drop, first announced in late 2024, will distribute both the NIGHT governance token and the DUST privacy-focused transaction token to users across major blockchains. Unlike traditional token launches, Midnight’s tokens will be distributed entirely to the retail community, with no allocation to venture capitalists or early insiders. Hoskinson emphasized that recipients of Midnight tokens can freely keep, trade, or discard them, marking a departure from traditional airdrops that often reward insiders or early adopters. This initiative underscores Hoskinson’s vision of "cooperative economics," which aims to enable developers from different blockchain networks to build hybrid decentralized applications seamlessly. Midnight’s new economic model will allow users to pay fees in their native tokens, with validators across different chains collaboratively maintaining the network and earning rewards regardless of their blockchain affiliation. Midnight is currently in testnet, with a mainnet launch expected by late 2025. Hoskinson sees the Glacier Drop, cooperative economics, and rational privacy as essential ingredients for welcoming billions of mainstream users as Big Tech companies enter the crypto space. He expressed his enthusiasm for the project, stating that it allows him to be friends with everyone in the industry.

Cardano has seen a significant shift in investor sentiment, with many turning their attention to Rexas Finance (RXS), a new cryptocurrency making waves in the market. While Cardano was once seen as a strong contender to Ethereum’s supremacy, its methodical approach has led to a perception of it as a "ghost chain" with no supporting ecosystem. In contrast, Rexas Finance has delivered real tools quickly, such as the Rexas Launchpad, Token Builder, and QuickMint Bot, providing instant value and utility to developers and consumers. This has led to a pivot among investors from "waiting for things to happen" with Cardano to "seeing things already happening" with Rexas. Rexas Finance has progressed from a presale price of $0.03 to its final stage at $0.20, indicating a significant gain. With a launch price set at $0.25 on June 19, 2025, many see it as a ground-floor opportunity that Cardano no longer offers after years in the top 10 rankings. Cardano was designed in 2017 when blockchain technology was still establishing itself, but expectations have changed drastically in 2025. It’s about providing useful, scalable goods that satisfy the needs of actual consumers and institutional stakeholders, not only about possessing theoretical capacity. Rexas Finance is focused on the junction of RWA tokenization, DeFi, and artificial intelligence integration—all three of which will define the next stage of crypto acceptance. Its technologies are meant to streamline the launch of new currencies and digitize assets in an Ethereum-based ecosystem under security. Although Cardano is strong in principle, it still faces challenges in onboarding developers and expanding acceptance in a competitive multichain environment. While RXS is listed on CoinMarketCap and CoinGecko, it has already completed a Certik audit and is actively creating an ecosystem instead of only promising one.

Statistics shared by the @Cardanians_io show that up to now throughout 2025, more than 225,000 new wallets have been created on the Cardano network as new investors have been flowing into this space. This means roughly 1,700 new ADA wallets were created per day on average, signaling a massive increase in ADA adoption this year. Since the “bull market is just getting started,” the tweet says, more new investors are likely to go for ADA this year. Cardano founder Charles Hoskinson tweeted that Cardano had now reached a “very exciting inflection point” regarding its engineering and “the diversity of ideas and teams.” Now, he wrote, Cardano’s philosophy is going to radically change from being “rigorous, safe, and effective” and also from alienating those who wanted to bring new ideas into the ecosystem. This philosophy resulted in Cardano delivering new features very slowly. Until now, the Cardano team “focused purely on practice,” avoiding any rush and/or deadlines, thinking in terms of years and decades. It slowed down Cardano and prevented it from growing and thriving. But now, Hoskinson continued, as 2025 is here, Cardano is welcoming small agile teams “like Aiken and Midgard,” and at the same time it will preserve “the knowledge, experience, and rigor with IOR and our formal methods group using Ada.” Hoskinson believes that while many will be unhappy about change and miss the days “that never actually existed,” others will be more than happy to “contribute, the faster pace of development, and the competition of ideas.” Hoskinson is certain that “the new days will be filled with even greater opportunities and exciting new capabilities.”