Cardano (ADA) and Litecoin (LTC) Team Up for DeFi: Hoskinson Confirms Collaboration is Happening

Charles Hoskinson, the person behind Cardano, has confirmed that talks are happening about a possible DeFi partnership with Litecoin.

Charles Hoskinson, the founder of Cardano, has confirmed that talks are underway for a potential DeFi partnership between the platform and Litecoin.

The partnership could see Litecoin used in the rollout of Cardano’s new privacy protocol, Midnight, with the goal being to create more liquidity between the networks and ultimately attract more DeFi users to both ecosystems.

There has been a lot of chatter about the partnership on social media, and it seems to be a topic of great interest to members of both communities.

Both projects benefit from each other. Litecoin has incredible branding and a strong community. Charles has mentioned multiple times his interest to include Litecoin in a variety of DeFi options.

Yesterday, Hoskinson responded to a post by Angry Crypto Show, where he highlighted the strength of the Litecoin community and the efforts of both sides to integrate their technologies.

The confirmation from Hoskinson comes after rumors had been swirling about the possibility of a partnership between Cardano and Litecoin.

Earlier this weekend, conversations on X, formerly Twitter, began about the possibility of the partnership, and it quickly gained a lot of attention.

In a recent post on X, Angry Crypto Show highlighted how a strong community supports Litecoin and that the cryptocurrency also has great branding.

The post, which was made on Monday, also mentioned that Hoskinson had previously expressed interest in collaborating with Litecoin on decentralized finance.

Cardano Founder Recognizes Ties to Litecoin

Shortly after the post by Angry Crypto Show, Hoskinson responded, saying that he’s a “big fan” of the Litecoin community and that he’s known the founders, Charlie Lee and Bobby Lee, for over a decade.

His remark signals that the integration of Litecoin into Cardano’s DeFi network could begin soon. It would be an important part of Cardano’s broader efforts to expand its DeFi capabilities.

Through this partnership, there would be a chance to connect two of the strongest Layer-1 blockchains in the industry. Since both Cardano and Litecoin are quite stable and have good positions, combining them could make decentralized apps more accessible and allow for more transactions.

Working closely together could make both ecosystems stronger, increasing Cardano’s functionality and possibly lifting the value of ADA over time.

ADA’s Make-or-Break Moment

At the beginning of this week, ADA is trading at $0.7240 as of press time. If the price rises above $0.78, investors will start to expect the start of a bullish trend.

Technical trends suggest that ADA is trading above its key moving averages, which could signal that Cardano is in the process of slowly recovering. However, at the beginning of this week, the Parabolic SAR turned bearish on May 17. This change in trend momentum could mean that momentum traders should be more careful.

If the price closes below $0.7199, it could cause the price to drop further to the next support at $0.66. Nevertheless, if Cardano completes the Litecoin integration in its DeFi ecosystem, it could trigger lasting growth for the platform.