The Cardano (ADA) community is electrified with the recent announcement from Emurgo, one of Cardano blockchain’s founding partners, about their new partnership aimed at integrating Huawei’s cloud infrastructure into the Cardano ecosystem.

This development has been met with great enthusiasm within the cryptocurrency community, generating a highly positive outlook. Many are expecting this to significantly boost Cardano’s adoption and utility. A prominent Cardano-focused account on X, known as Cardano Whale, expressed excitement about this new collaboration.

“This partnership will bring Huawei’s cloud infrastructure into the Cardano ecosystem” https://t.co/ANDboLfMKs

— ADA whale (@cardano_whale) April 11, 2024

Developers Will Be Able To Use Web3 Solutions On The Cardano Ecosystem

The collaboration between Emurgo and Huawei Cloud, a leading global cloud computing company, will bring significant advancements to the Cardano ecosystem by integrating Huawei’s cloud infrastructure. This integration will enable developers to create Web3 solutions on Cardano, enhancing its growth and adoption across the Asia-Pacific and Africa regions.

Additionally, the partnership is set to enhance the scalability and interoperability of Cardano’s cloud services. Access to Huawei’s Marketplace, which is accessed by numerous prominent organizations, will further expand Cardano’s Web3 outreach.

Crypto Analysts Think Cardano’s Price Is Exactly Where It Should Be

This achievement marks the initial step towards an expanded partnership between Emurgo and Huawei, aimed at fostering commercial adoption through various means such as validator nodes, events, and technological collaborations.

As anticipation grows within the Cardano community for more specifics and developments regarding the integration with Huawei’s cloud infrastructure, there is increasing enthusiasm about the potential advantages and prospects this collaboration could yield.

Currently, ADA has seen a 1.23% increase in its value over the past 24 hours, reaching $0.584. According to crypto analysts, Cardano’s price dynamics remain stable, with ADA continuing to consolidate within the $0.55–$0.80 range, positioning it for a potential breakout to $1.70.

Emurgo’s CEO Talks About The Future Of Web3

Ken Kodama, CEO of EMURGO, underscored the importance of their new partnership, stating that it aligns with the goal of expediting Web3 adoption and enhancing transparency and trust within the cloud ecosystem.

He stated that the collaboration embodies their collective aim to fast-track Web3 integration, promoting transparency and reliability in the cloud environment.

Rex Lei Yang, Managing Director of Huawei Cloud Singapore, echoed Kodama’s views, emphasizing that the alliance could link Huawei Cloud to a broad network of Web3 developers through the Cardano.

As a key founding member of the Cardano protocol, EMURGO is instrumental in driving commercial opportunities within the Cardano ecosystem. Founded in Japan in 2015, EMURGO supports the growth and achievement of Cardano’s full potential through strategic alliances, educational efforts, investments, and infrastructure enhancements.

Industry experts believe that the new collaboration between EMURGO and Huawei Cloud will significantly contribute to broadening Cardano’s influence in crucial regional markets across the Asia Pacific and Africa. This expansion is vital for Cardano’s mission to transform the Web3 domain.

The post Cardano Ecosystem Will Now Have Huawei’s Cloud Infrastructure appeared first on Coinfomania.

The crypto asset Cardano (ADA) has taken a giant step in the financial field by registering an impressive 108.20% increase in its trading volume in the last 24 hours, reaching the outstanding figure of $623,423,286. This significant increase not only reflects investors' renewed confidence in this cryptocurrency, but also signals frenetic and promising activity in the digital market.
 
The dizzying rise in Cardano (ADA) trading volume has caught the attention of financial analysts and cryptocurrency experts, who see this achievement as a clear indicator of the strength and stability of this digital currency. This milestone marks a pivotal moment for Cardano (ADA) on its path to mass recognition and adoption within the crypto market.

With the majority of assets in the cryptocurrency sector slowing down and reversing their gains from the previous several weeks, things do not look very optimistic for Cardano (ADA) in the short term, but artificial intelligence (AI) algorithms remain bullish regarding its price trends in 2024.
As it happens, Cardano is currently recording losses on multiple charts, although it has managed to increase its price from the year’s turn and defeat Avalanche (AVAX) in the battle for the position of the eighth-largest crypto asset by market capitalization, and AI forecasting algorithms predict further improvement.
Cardano price prediction 2024
So, when will Cardano explode? According to the advanced AI algorithm’s projections, which rely on historical ADA trends, technical analysis (TA) indicators, chart patterns, and related developments, Cardano could hit the price of $3.01 by December 31, 2024, suggesting an explosion of 396.52%.

At the same time, machine learning platform CoinPriceForecast offers a somewhat more bearish prognosis for Cardano, predicting it would hit $1.26 by (+107.85%) the end of 2024, with Cardano price prediction 2025 seeing it reach $1.64 by mid-year, and closing it at the amount of $1.71.
Meanwhile, the fourth model of the OpenAI invention ChatGPT, called GPT-4, has set the Cardano price prediction 2024 targets at “between the current level and the optimistic $8 prediction” (+1,219.65%), adding that its bullish prognosis relates to the strength of the market’s representative, Bitcoin (BTC):
“There’s a general ascendancy in the crypto market with Bitcoin showing significant growth. This positive sentiment in the broader market could potentially benefit ADA as well.”
In the meantime, Claude 3 Opus, the latest AI model by Anthropic, has offered its own Cardano price prediction, forecasting that ADA could hit the target between $1.50 and $3.00 (up to +394.87%) toward the end of this year, as it “could experience significant growth by the end of 2024.”
Cardano price today
As of its current situation, Cardano price today sits at $0.60622, suggesting a decline of 1.15% in the last 24 hours and a loss of 15.21% across the previous seven days, adding up to the monthly drop of 3.89%, as per the most recent chart data on March 20.

It is also worth noting that crypto trading expert Ali Martinez recently observed that Cardano was mimicking its 2018-2021 pattern, which suggests a consolidation in the $0.55-$0.80 range, followed by a surge to $1.70, another period of further consolidation, and a breakout to $5.

All things considered, this crypto asset looks ready to recover and increase its value by the end of this year, but the situation in this sector can sometimes change on a whim, which is why doing one’s own research and keeping up with Cardano news is important before investing a significant sum of money in it.
$ADA #ADA #Cardano

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As positive crowd sentiment engulfs the crypto market after Bitcoin breached the all-time high (ATH) price of $69,000, Cardano (ADA) seeks to ride on this wave by mimicking its last bull run.

Taking on X, formerly Twitter, leading market analyst Ali Martinez pointed out that if this historical pattern saw the light of day, ADA could surge to the $10 price level.

Martinez noted, “Cardano seems to be mirroring its previous bullish cycle. If this pattern continues, we could witness a brief correction before ADA goes parabolic toward $10.”

Source: Ali Martinez

Cardano hit $3 during the last cycle after surging by more than 3,200%. Therefore, if ADA follows in these footsteps, Martinez believes the $10 price threshold will be in the offing as the eighth-largest cryptocurrency will have soared by more than 2,000%.

Since Cardano has broken out of a cup & handle formation that came to light in June 2022, ADA is likely to smash the $3 price level this cycle.

Cardano Experiences Heightened Network Activity

Based on CoinGecko data, Cardano has already recorded a 47.5% monthly surge, and increased network activity has played an instrumental role in this uptrend.

Specifically, ADA has been depicting strong network engagement and increased investor interest thanks to rising transaction volume and active daily addresses.

Cardano was hovering around the $0.7 level at press time, according to CoinGecko.

Top crypto analyst Dan Garmbadello recently echoed Martinez’s sentiments that Cardano was eyeing a parabolic movement since it had broken out of a major structure.

Cardano (ADA) has been steadily climbing with the rest of the crypto market. Although meme coins have dominated headlines with Shiba Inu (SHIB) climbing almost 300%, ADA has exhibited a more gradual yet consistent growth pattern.
ADA’s seemingly slow climb has led some investors to question its rising pace compared to the overall market rally. However, Ali Martinez (@ali_charts), a prominent crypto analyst, believes a historical parallel suggests a significant price increase for the digital asset is imminent.
Cardano is currently trading at $0.6871, and despite a notable 11% uptick in the last week, ADA remains far from its all-time high of $3.10. The asset has also dropped 2.46% over the past 24 hours, bolstering the confidence of ADA detractors and increasing uncertainty.
Ali, however, believes that ADA’s current performance aligns with its behavior during the preceding market cycle. In his recent analysis, he highlighted a specific chart pattern that preceded ADA’s explosive growth in 2021.

Cardano (ADA) Echoing Past Performance?
Ali’s chart reveals a period of consolidation between September 2018 and July 2020, which he interprets as an accumulation phase for ADA. Following this extended period, ADA broke out in July 2020, reaching a high of $0.149.
However, a minor correction ensued, bringing the price down to $0.10 by November 2020. It was after this correction that ADA embarked on a staggering 3,217% surge, culminating in its all-time high in early September 2021.
Interestingly, Ali’s analysis suggests a similar pattern unfolding for ADA in the current cycle. After the price collapsed from its all-time high, the digital asset entered a consolidation phase lasting from September 2022 to November 2023. This consolidation phase ended with a breakout in December 2023 as part of the broader market upswing.
The recent retest of $0.80 further strengthens the parallel between the two market cycles. Based on this historical comparison, the analyst anticipates a potential price correction for ADA in the near term, followed by a significant price increase.
Meanwhile, a prominent crypto founder recently revealed that ADA won’t stay under $1 for much longer, adding credence to Ali’s prediction.
Ali’s Price Target
Ali establishes an ambitious target price of $10 for Cardano (ADA). His chart shows a potential 2,084% surge from its January 2024 low of $0.448. However, a potential roadblock exists in the form of its Relative Strength Index (RSI). This technical indicator currently sits at 68 on the weekly timeframe, approaching overbought territory.
On two previous occasions, ADA faced a correction when its weekly RSI climbed above 70. However, with the ecosystem’s rapid growth and bullish signals all around, ADA could beat the decline and reach Ali’s target.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#cardano #ADA