- Charles Hoskinson’s new platform aims to provide Brazil with a censorship-resistant social media solution amid government crackdowns on traditional platforms.
- This move highlights Cardano’s broader mission of decentralization and could enhance Cardano’s visibility and influence in global digital governance.
Alongside recent developments like Cardano’s preparation for a major governance shift with a new Constitutional Committee, as reported by CNF, Brazil is set for a major change in social media as Cardano founder Charles Hoskinson plans to launch a decentralized network following the country’s ban on X (formerly Twitter).
Specifically, The ban, enforced by Brazil’s Supreme Federal Court, was due to X’s non-compliance with court orders and its role in spreading harmful content, raising concerns about censorship.
Cardano’s ADA Faces Volatility Amid Brazil’s Social Media Ban
Hoskinson aims to counter this by introducing a decentralized platform that resists government control, aligning with Cardano’s mission for secure blockchain solutions. Elon Musk criticized the ban as illegal, while X faces ongoing challenges in Brazil, including office closures. Hoskinson’s move seeks to offer Brazilian users a new alternative.
Previously, we discussed that Cardano’s ADA was stuck at $0.44, with analysts predicting a potential breakout if it surpasses the $0.45 resistance, suggesting a possible price surge.
At present, ADA is trading at $0.3329, reflecting a decline of 3.37% over the past 24 hours and a more significant 13.55% drop over the past week. This recent downturn highlights the ongoing volatility and challenges facing Cardano’s price movement. For a detailed view of these fluctuations, refer to the price chart below.
