Cardano founder Charles Hoskinson stated that as an independent Layer-1 network, Cardano's development has essentially peaked, and it must now expand its DeFi ecosystem to stay competitive. He pointed out that key metrics such as TVL (Total Value Locked), stablecoin supply, and monthly active users need to increase by 10 to 100 times to rival blockchains like Ethereum and Solana. Hoskinson emphasized that the Midnight sidechain will become the main driver for privacy-focused applications and institutional use cases, helping to attract the next million users from the cryptocurrency space.

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