- Charles Hoskinson is proposing a big developer conference for Cardano next year.
- Amid positive ecosystem trends, projections for ADA price remain bullish.
Charles Hoskinson, the founder of the Cardano (ADA) blockchain, recently proposed a conference for network developers. Hoskinson anticipates the conference will showcase the Cardano ecosystem and demonstrate its capabilities to the world. It could also impact the price of ADA, Cardano’s native digital asset.
Hosinson’s Vision for the 2025 Developer Conference
Taking to the X platform, Hoskinson proposed a million-dollar grant to cover travel and expenses for the proposed conference attendees. Additionally, the founder requested suggestions from the crypto community on where to hold the annual developer event.
In response, Cardano Ambassador for Ghana, Mohammed Mustapha Yakubu, said the annual Cardano Summit could be an ideal opportunity for the conference. However, Hoskinson replied that he would not have attended the summit if the Cardano Foundation had hosted it. Rather, he said he would go to Rare Evo.
I will not be attending the summit as long as the CF hosts it. I will be going to Rare Evo
— Charles Hoskinson (@IOHK_Charles) December 15, 2024
Furthermore, Cardano Foundation technical director “KtorZ” proposed two “builder fests” scheduled for 2025 in Vietnam and Argentina. Hoskinson, however, clarified that “the builder fests” and the Cardano developer conference have separate visions.
The Cardano founder explained that the former is focused on converging builders so they can discuss common needs and problems. The core idea is to improve the Cardano network’s funding, road map, and possible collaborations.
As a result, Hoskinson acknowledged the “builder fests” as an extremely valuable exercise.
However, he explained that the developer conference aims to introduce projects built on Cardano to the rest of the industry. Hoskinson highlighted that blockchain participants have often complained about needing to meet individuals building on Cardano or using a Cardano project.
Therefore, Hoskinson sees the creation of the annual developer conference as a solution to participants’ concerns. His goal is to foster collaboration among developers within the ecosystem. He envisions a space where they may share ideas and address difficulties.
Impact on ADA Price Forecast
As Cardano showcases its capabilities worldwide, many anticipate the potential impact on ADA. The price of ADA has experienced a correction despite recent upgrades like the Chang hardfork and the upcoming Cardano Constitution.
ADA previously soared from a 52-week low of $0.2799 to its yearly high of $1.32. At the time of writing, ADA trades at $1.06 with a market cap of $37.2 billion. ADA’s price has dropped by 2.3% in the last 24 hours and 6.9% in the past seven days.
The coin’s Relative Strength Index (RSI) shows that ADA is overbought and undergoing a price correction. The on-chain metrics suggest the cryptocurrency will move sideways before making additional gains. However, the trading volume increased by over 53% within 24 hours, suggesting investors renewed interest.
If the momentum continues and ADA sees increasing adoption, the price could see a rebound soon. Moreover, market analyst Dan Gambardello suggested in a CNF report that ADA is moving towards a price supercycle, with goals of $3, $7, and $14.
