The Cardano network is known for adding new upgrades on the blockchain with consistency throughout the year. However, IOG, the parent company supporting the project, has also formed some new alliances with different corporations to grow the network. As noted by Cardano Foundation, the company has found 13 new projects to work on this year.
Considering the latest addition of value to the Cardano network, the token might be able to register a new ATH of $1.80. Among the 13 new partnering giants among the Cardano network, there are names like Taurus, Aid Technology, Coinfirm, HackerOne, Save the Children, veritree, BaiasWine, COTI network, NOWPayments, Ecoage, and UBX, among others.
Scalability and dApps Support
One of the biggest names to join Cardano is Ecoage, a sustainability consultant provider. The company decided to award Renaissance Awards to the top-ranking activists volunteering around the world. The format of the aware is going to be in NFT. Cardano provided Ecoage with the resources to mint, produce, and distribute these awards.
Cardano has gathered a lot of attention from the media by providing blockchain payments support to NGO Save the Children. The partnership will allow the donors to send their ADA donations to the NGO raised for philanthropic activities in East African countries.
The renewed bullish trend in the cryptocurrency market has allowed the token to cross the point of inflection at $1.57 resistance.
The Relative Strength Index or RSI is still away from the overbought zone, which means that investors are showing interest in keeping the positions open. Meanwhile, in the short term, ADA can show a surge due to RSI staying above the 50 line. Data from TradingView shows that ADA might be able to continue its bullish streak in 2022.