Cardano Founder Hoskinson Says Midnight Will Surpass Zcash, Urges Gemini to List ADA
Cardano founder Charles Hoskinson predicts Midnight will surpass Zcash, citing its features. He urges Gemini to list ADA, estimating its absence cost $70M in revenue. Midnight's market cap is $774M vs. Zcash's $20B. ADA trades 93% below its high. Gemini shares are at $4.42.
How this was made
The 30-second read
Why it matters
The statement could influence investor sentiment toward ADA and Gemini, potentially prompting a listing decision or affecting share prices.
Market read
The commentary may drive short-term price moves for ADA and Gemini, while raising broader questions about crypto exchange listings.
What to watch
Potential legal or compliance hurdles for listing ADA that could outweigh projected revenue gains.
Background
Cardano founder Charles Hoskinson publicly criticized Gemini for not listing ADA, citing a $70M revenue impact and comparing Midnight's privacy network to Zcash.
Ticker impact
Founder Charles Hoskinson publicly urges Gemini to list Cardano (ADA), claiming a $70M revenue loss for the exchange.
likely upside if Gemini adds ADA
Listing would increase accessibility and may attract new investors, supporting price appreciation.
Gemini (NASDAQ:GEMI) is being pressured to list ADA after Hoskinson's claim of $70M lost revenue.
likely pressure as market prices in possible listing delay
Investors may view the omission as a missed opportunity, weighing on the stock.
Midnight's NIGHT token is highlighted as a growing privacy network that could surpass Zcash.
potential modest upside on heightened attention
No concrete catalyst beyond founder commentary; market reaction may be limited.
Market effects
Highlights ongoing competition in crypto privacy and exchange listing decisions.
U.S. crypto exchanges may face increased scrutiny on token listings.
Adds to broader discourse on crypto adoption and exchange listings worldwide.
Counterpoint
Gemini may prioritize regulatory compliance over immediate revenue, delaying ADA listing.
Key entities
- personCharles Hoskinson
Founder of Cardano, advocating for ADA listing on Gemini.
- exchangeGemini
U.S.-based crypto exchange being urged to list ADA.
- projectMidnight
Privacy-focused network compared to Zcash.
