- Charles Hoskinson鈥檚 new platform aims to provide Brazil with a censorship-resistant social media solution amid government crackdowns on traditional platforms.
- This move highlights Cardano鈥檚 broader mission of decentralization and could enhance Cardano鈥檚 visibility and influence in global digital governance.
Alongside recent developments like Cardano鈥檚 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鈥檚 ban on X (formerly Twitter).
Specifically, The ban, enforced by Brazil鈥檚 Supreme Federal Court, was due to X鈥檚 non-compliance with court orders and its role in spreading harmful content, raising concerns about censorship.
Cardano鈥檚 ADA Faces Volatility Amid Brazil鈥檚 Social Media Ban
Hoskinson aims to counter this by introducing a decentralized platform that resists government control, aligning with Cardano鈥檚 mission for secure blockchain solutions. Elon Musk criticized the ban as illegal, while X faces ongoing challenges in Brazil, including office closures. Hoskinson鈥檚 move seeks to offer Brazilian users a new alternative.
Previously, we discussed that Cardano鈥檚 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鈥檚 price movement. For a detailed view of these fluctuations, refer to the price chart below.
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