Thanks to the ADA and transaction fees from each epoch, Cardano has plenty of funds to continue growing, given that Input-Output Global (IOG) is actively pushing new upgrades to improve the performance and reliability of its network. The organization is very important.
It is currently in the Basho stage, which aims to improve performance and allow the network to accept intensive Dapps and compete with #BTC and Solana. #Cardano is already receiving support, especially from governments.
It's partnering with the Ethiopian government to improve education using blockchain, and government agencies in the U. S. and Europe are also taking a closer look at Cardano.
Will the rumored partnership lead to an #ADA rate hike?
Rumor has it that various US states have approached Cardano developers to create a transparent blockchain-based voting platform. Negotiations are reportedly underway, but important details have not yet been disclosed.
However, there are other blockchains besides Cardano. Options such as Solana and Ethereum could be worthy alternatives. BlackRock, one of the world's largest asset managers, has launched a tokenized fund on Ethereum and poured $100 million into it.
It remains to be seen whether the community will view the partnership deal as bullish; ADA is currently under pressure and is down 30% from its March high; despite attempting to hit a high on April 4, the sell-off resumed today, negating the upward movement.
A dip below $0.55 could accelerate the decline to $0.45, which could negate Q1 2024 earnings.
Despite the bearish outlook, some analysts are bullish. After a period of calm, the two-week chart is flashing green, reflecting the green wave seen at the start of the bull market in 2020.
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