Input Output Global, the developer behind Cardano, recently signed a Memorandum of Understanding (MoU) with Argentina-based tech solutions provider Globant. Globant is focused on creating digital products to connect businesses with consumers.
It leverages top technology and creativity to achieve this feat. In over 21 years of operations, it has expanded across 33 countries.
The Cardano AI Push
Both parties intend to explore the intersection of blockchain and Artificial Intelligence (AI). While only a few details were shared about the collaboration, it is worth noting that it deepens Cardano’s AI push.
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Cardano’s push into the AI scene is not abrupt. A few months ago, Cardano and Algorand hinted at the possibility of cementing a partnership that might see a part of their chains merge.
Hoskinson noted that the combination would likely make Algorand the greatest decentralized AI powerhouse in the industry. He proposed that Algorand become a partner chain. With his proposition, he sees the Minotaur (a combination of PoS and PoW) innovation pushed to its limits.
ADA Price to Flip BTC And ETH
Notably, this Globant partnership came hours after Charles Hoskinson stated that Cardano would soon flip Bitcoin and Ethereum.
During the Cardano summit in Argentina, Hoskinson said the network will become larger than Bitcoin and Ethereum in ten years. Hoskinson sees major governments running nodes on the infrastructure within this period.
It appears farfetched that Cardano will outpace Bitcoin and Ethereum. This is because ADA is currently the eleventh-largest cryptocurrency, with a market cap of $12.27 billion. Bitcoin is leading the part with a market cap of $1.35 trillion. It is followed closely by Ethereum, at $317.76 billion.
Still, Hoskinson sees the possibility of Cardano outperforming these top digital currencies. His belief hinges on technological superiority over Bitcoin and Ethereum.
The Globant partnership is one way the Cardano protocol is setting the stage for this future projection. Through the new capabilities that will emerge, Cardano can attract more developers, DApps, and users who can drive ADA adoption.
Cardano Price at Consolidation Phase
In terms of price, ADA is currently trading at $0.3509 after losing 0.36% in the last 24 hours. Analysts have predicted the potential of an upward movement that could lead the price to $0.4 in the near term.
This depends on market conditions and whether it can form sustainable support around the $0.35 price level. Cardano has faced some bearish trends lately. However, its price prediction for 2024 indicates potential growth lies ahead.
When the ADA price consolidated within a symmetrical triangle on the daily chart at around $0.3469, experts noted that a significant breakout was imminent. More optimistic analysts are looking forward to an ADA price level of $5.
This would depend on the resurgence of the broader crypto market and sustained development in the Cardano ecosystem. Despite this positive projection, Cardano’s growth might not be linear, as intermittent retests might come along the way.
