Cardano Price Surges to 10-Day High After Partnership Announcement

Cardano’s price has reached a 10-day high, surging by approximately 55% from its lowest level this month. The cryptocurrency’s market capitalization stands at around $28.5 billion, with a fully diluted valuation of $35.7 billion.

Cardano Partners with Globant

Founder Charles Hoskinson recently confirmed a partnership between Cardano and Globant, a publicly traded company with a market capitalization of nearly $10 billion. According to Hoskinson, the partnership will involve using Cardano’s blockchain to build decentralized applications. The two companies will also launch AI projects and applications in the near future.

“Globant has over 20,000 developers. They’re a huge, publicly traded, multi-billion dollar company. We already signed an MOU with them. Globant will build on Cardano, and we’ll do AI projects and applications with them.”

Globant, an Argentinian company, provides various digital solutions, including application development and artificial intelligence implementation, to top clients such as Walt Disney, Nissan, and Royal Caribbean.

Upcoming Meeting Sparks Speculation

Cardano enthusiasts are eagerly awaiting an upcoming meeting between Hoskinson and a VIP on March 1. Although the identity of the VIP remains unknown, fans speculate that it could be influential figures like Elon Musk, Donald Trump, or David Sacks.

Some Cardano fans believe that a meeting with Musk could be a game-changer, potentially leading to the adoption of Cardano’s blockchain by the Department of Government Efficiency (DOGE). They argue that Cardano’s low transaction fees, 100% uptime, and status as a Made in USA blockchain make it an attractive option.

Tips for Investors

  • Keep an eye on Cardano’s price movements and watch for potential partnerships and collaborations.
  • Be cautious when interpreting Hoskinson’s statements, as he has a history of overpromising and underdelivering.
  • Consider the potential benefits of Cardano’s blockchain, such as low transaction fees and high uptime.

Technical Analysis

The weekly chart shows that Cardano’s price has stabilized and retested the crucial resistance level at $0.802. If the Elliot Wave pattern holds, Cardano may move into a highly bullish third phase soon.

If this happens, the next level to watch will be the 61.8% retracement point at $2, which is approximately 155% above the current level.

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