Cardano Price Prediction: Hoskinson Confirms Talks With Circle and Tether – Massive Stablecoin Partnership Coming?

The founder of Cardano (ADA), Charles Hoskinson once again confirmed that the project’s Foundation has engaged in conversations with the founding entities behind Circle and Tether – the issuers of the top stablecoins USDC and USDT.

To the Cardano community, bringing these two stable assets to the blockchain’s ecosystem would favor a bullish Cardano price prediction.

In a lengthy discussion about the matter on X, Hoskinson emphasized: “We talk to Circle probably every month to two months. We’ve engaged with Tether numerous times.”

However, Hoskinson is skeptical about how much impact this could actually have on bringing more DeFi apps to Cardano.

“People seem to think that the inclusion of Circle and Tether will somehow magically supercharge the Cardano ecosystem. That’s just not true. It’s the opposite,” Hoskinson asserted.

Conversations with Circle and Tether date back to 2021. The founder of Cardano was astonished that they refused to bring their flagship stablecoins to this blockchain back then.

Bringing USDC and USDT to Cardano could help boost its credibility but may not necessarily make the network more attractive to developers than it is now.

Looking at the daily chart, Cardano (ADA) has found support temporarily at the $0.51 level and has stood above this area for a few days as negative momentum seems to have decelerated.

This supports a bullish Cardano price prediction as the market could now try to push the price to higher levels to squeeze short sellers out.

The 9-day exponential moving average (EMA) seems poised to move above the 21-day EMA within the next few days. If a bullish breakout of ADA’s descending price channel occurs along with a move above $0.61, that could ignite a stronger rally toward $0.86 – the token’s nearest swing low.

The Relative Strength Index (RSI) has been moving to higher ground lately as well but has not crossed above the 51 level yet.

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