Cardano Up 23% In 7 Days As Co-Founder Charles Hoskinson Explores Privacy-Focused Stablecoin

Cardano (CRYPTO: ADA) has surged 23% over the past week as co-founder Charles Hoskinson is exploring the possibility of launching a privacy-enabled stablecoin that functions with the anonymity of physical cash.

What Happened: Speaking on the Conversations with Leaders podcast hosted by eToro on May 9, Hoskinson said current stablecoins lack privacy and are too easily traceable on public blockchains like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL), according to DL News.

While stablecoins are a $243 billion market, their transactions remain fully visible, raising privacy concerns for users.

Cardano currently supports stablecoins with a modest $31.5 million market cap, but Hoskinson hinted …

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