- This partnership signifies the first step towards broader cooperation to extend the Cardano ecosystem in Asia Pacific and Africa.
- EMURGO aims to leverage Huawei Cloud’s technology and global reach to accelerate Web3 adoption and foster innovation in blockchain.
EMURGO, engaged in promoting Web3 via the Cardano blockchain, has formed a partnership with Huawei Cloud. The purpose of this collaboration is to integrate a Cardano Validator Node into Huawei Cloud, aiming to enhance the Cardano network’s infrastructure.
🚀 EMURGO, a key player in the #Cardano blockchain ecosystem, is collaborating with #Huawei Cloud to establish a Cardano Validator Node. This move not only bolsters Cardano's network but also opens up access to Huawei Cloud's vast resources for developers, fostering innovation… pic.twitter.com/qkuDDyxmuX
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) April 11, 2024
Ken Kodama, mentioned the partnership’s goal to merge Huawei Cloud’s global reach with EMURGO’s access to the Cardano ecosystem, facilitating the development of Web3 solutions. This collaboration is intended to promote Web3 adoption by leveraging trusted cloud technology and Cardano’s blockchain network.
This initiative is the first phase of an expanding collaboration aimed at enlarging the Cardano ecosystem in key markets across Asia Pacific and Africa.
Huawei Cloud, a subsidiary of the tech giant Huawei, ranks as one of the leading cloud computing services globally. This partnership will allow Cardano developers to use Huawei Cloud’s extensive network and computing capabilities for developing Web3 solutions on the Cardano platform.
It is expected to improve Cardano’s cloud service scalability and interoperability, as well as extend its Web3 offerings through Huawei’s Marketplace, which is utilized by numerous enterprise customers.
Related: Cardano (ADA) Breakout Signals: Brace for 32% Rally Ahead
EMURGO, a foundational part of the Cardano blockchain, supports a network of over 3,000 stake pools that secure the Cardano network and offer staking capabilities to millions of users worldwide.
With a presence across Africa through the Cardano accelerator, Adaverse, and EMURGO Africa, the organization is poised to further expand its influence in the Asia Pacific, including Singapore, Indonesia, India, and Japan.
This partnership with Huawei Cloud is a strategic move to utilize blockchain for innovation and sustainable development across these regions.
The current analysis of Cardano (ADA) presents a diverse perspective, reflecting the dynamic nature of the cryptocurrency market. On one hand, technical analysis suggests that ADA is in a strong downtrend, with moving averages indicating bear dominance. However, a positive divergence in the Relative Strength Index (RSI) hints at decreasing selling pressure.
The current price of Cardano (ADA-USD) is approximately $0.58, with a slight increase of about 1.66% as of the last update.
If ADA manages to surpass the 20-week exponential moving average (EMA), a rally towards the 50-week simple moving average (SMA) and potentially up to $0.68 could be triggered.
Conversely, a drop below the critical $0.29 support could lead to a decline to $0.25, signaling a continuation of the downtrend.
The defense of the $0.60 support level and increasing funding rates on derivatives trading platforms suggest a bullish sentiment among traders, potentially aiming for a retest of the $0.70 level.
