Highlights:
- Cardano is currently trending towards $1.10 after breaching intra-day resistance
- Rally driven by rising bullish sentiment across the market
- Strengthening Cardano fundamentals could help sustain the rally
Like the rest of the market, Cardano (ADA) is sending bullish signals today. In the last 24 hours, Cardano has gained by 4.11% to trade at $1. Cardano trading volumes are also on the rise in the day. They are up by 23% to hit a high of $1.2 billion. While broader market price action is pushing Cardano higher, multiple factors within Cardano could help sustain momentum.
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Cardano Foundation Ecosystem Guide a Bullish Signal
The Cardano Foundation has released an ecosystem guide. The guide demonstrates how projects on its platform are addressing critical enterprise needs. The guide, based on an analysis of 582 projects, highlights Cardano’s growing influence in solving real-world challenges through traceability, authenticity, and sustainability.
The research revealed that 54.6% of the projects prioritize authenticity, using secure verification methods to establish identity and legitimacy. Traceability accounts for 30% of the initiatives, focusing on creating transparent and immutable records to verify digital and physical assets. Meanwhile, 15.4% of the projects are dedicated to sustainability, supporting social and environmental causes.
Cardano Tackling Real-World Challenges
In a statement to Cointelegraph, Cardano Foundation CEO Frederik Gregaard emphasized the importance of these focus areas. He noted that traceability, authenticity, and sustainability are critical pillars in today’s blockchain ecosystem. These three key areas showcase Cardano’s ability to tackle real-world challenges. This, while delivering practical solutions for businesses and consumers.”
Gregaard elaborated on the significance of each Cardano core metric. Traceability, he noted, ensures transparency and regulatory compliance, which are essential for building consumer trust. Authenticity, particularly in sectors like finance and healthcare, safeguards sensitive information through robust data integrity measures. Sustainability aligns with global environmental goals, fostering positive social and ecological impacts.
The research also highlighted Cardano’s global reach, with 70% of the projects targeting international markets. Gregaard pointed out that this reflects the platform’s scalability and its ability to support diverse applications worldwide.
Cardano Foundation CEO Frederik Gregaard told Cointelegraph that 70% of projects in the Cardano ecosystem are designed for international deployment.
Source: Cointelegraph https://t.co/oKKhQHt1FI
— Lisas matrixhart (@lahart1102) January 24, 2025
Cardano’s Potential In Global Supply Chains
One notable application is the transformation of global supply chains. Projects on Cardano are implementing verification mechanisms that track assets from origin to end-consumer. This can help enhance transparency and efficiency across industries such as agriculture and manufacturing.
Cardano Active Addresses on the Rise Signaling Network Growth
The release of the ecosystem guide coincides with a resurgence in Cardano’s network activity. In the last 24 hours, Cardano’s daily active addresses have surpassed 50,800. This signals strong market participation and reduced concerns about large sell-offs. Analysts attribute this uptick to growing confidence in Cardano’s long-term potential.
On-chain data further supports this trend, with new addresses increasing by 4.79% and active addresses rising by 11.99% over the past week. However, historical patterns suggest that price corrections often follow peaks in daily active addresses, indicating potential volatility ahead.
Analysts Increasingly Bullish on Cardano
Despite recent negative price action, analysts are increasingly bullish on Cardano. Prominent market analysts, including trader Peter Brandt, have noted that ADA may have completed its bearish phase, with technical patterns suggesting a foundation for future gains. Brandt highlighted a double-bottom base formation on the multi-year chart as a key reversal point. It sets the stage for a potential bull market.
Technical Analysis – Cardano Price Gaining Upside Momentum After Consolidation
Earlier today, Cardano was largely consolidating between the $0.996 resistance and $0.957 support. However, bulls have gained momentum and pushed ADA through the $0.996 resistance.
If bulls sustain this momentum, then Cardano could test $1.018 in the day. A rally through $1.018 could see Cardano hit a high of $1.10 in the short term. With the broader market gaining bullish momentum, Cardano could be headed for $1.10 in the short term.
Recap
As Cardano continues to expand its ecosystem and address real-world challenges, its focus on traceability, authenticity, and sustainability positions it as a leading player in the blockchain space. With growing network activity and renewed investor interest, Cardano’s journey toward driving meaningful global change appears to be gaining momentum.
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