On Monday, May 19, Cardano (ADA) opened trading at $0.74, with its 24-hour upper wick touching the 7-day moving average. Market sentiment surrounding ADA turned increasingly positive after founder Charles Hoskinson officially confirmed speculation about a potential DeFi partnership between Cardano and Litecoin.
How will social sentiment influence ADA’s price in the week ahead?
Cardano (ADA) Signals Breakout After 3-Day Consolidation
While Ethereum and Solana recorded strong gains over the weekend—reclaiming $2,550 and $170 respectively—ADA remained relatively stagnant, hovering around the $0.75 level.
Data from CoinGecko highlights a noticeable drop in investor interest: ADA’s 24-hour trading volume fell sharply from $934 million on Friday to just $620 million on Monday. This reflects a decline in market activity surrounding Cardano over the weekend.
However, on-chain indicators are showing early signs of a potential bullish reversal. Recent updates from Charles Hoskinson may serve as the catalyst that drives ADA into a stronger performance this week.
Charles Hoskinson Confirms Upcoming DeFi Collaboration with Litecoin
Over the weekend, community discussions on X (formerly Twitter) gained momentum after several users referenced Hoskinson’s prior interest in working with the Litecoin network. A post by crypto commentator Angry Crypto Show went viral, stating:
“Litecoin has incredible branding and a strong community. Charles has mentioned multiple times his interest to include Litecoin in a variety of DeFi options.”
Just hours later, Hoskinson directly responded to the post, putting months of speculation to rest:
“I love the Litecoin community and have known Charlie and Bobby for over a decade. Great community!”
This response strongly suggests that active development efforts may soon begin to integrate Litecoin into Cardano’s expanding DeFi ecosystem—most likely through its upcoming privacy-focused protocol, Midnight.
If realized, this would mark a rare cross-chain collaboration between two of the crypto industry’s most established and resilient Layer-1 blockchains. The potential for multi-chain liquidity and broader DeFi participation could significantly enhance ADA’s utility and price momentum heading into 2025.
Currently, ADA is holding steady at $0.74, with investors eyeing a breakout above $0.78 as confirmation of a sustained bullish trend.
