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Cardano targets Bitcoin DeFi market to boost growth and close $9B valuation gap

Protocol Fundamentals
21 May 2026
UToday
View Source
Bullish
pluang ai news

Cardano founder Charles Hoskinson aims to expand Cardano's presence in the Bitcoin DeFi sector, calling it the largest untapped niche with no clear market leader. Despite Cardano's $9.14 billion market cap, its DeFi total value locked (TVL) is only $127.81 million, showing a need for external capital. The strategy involves leveraging Cardano's Midnight blockchain, compatible with Bitcoin, to import BTC liquidity and enhance smart contract usage. This move comes amid internal challenges and backlash in Japan, highlighting the high stakes for Cardano's future growth and valuation.

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