Cardano’s price hit a 10-day high as altcoins rebounded, following Charles Hoskinson’s announcement of a partnership with Globant.
On Saturday, Cardano’s price jumped to $0.80, up 55% from its lowest point this month. Its market cap is now around $28.5 billion.
Cardano’s surge followed founder Charles Hoskinson’s confirmation of a partnership with Globant, a publicly traded company valued at nearly $10 billion. Under this deal, Globant will use Cardano’s blockchain to develop decentralized applications, and both companies are also planning to launch AI projects soon.
Globant, an Argentinian tech firm, specializes in building applications, AI solutions, and digital tools for major clients like Walt Disney, Nissan, and Royal Caribbean.
The announcement comes as Cardano fans anticipate Hoskinson’s upcoming meeting with a mystery VIP on March 1. While he hasn’t revealed the person’s identity, speculation includes Elon Musk, Donald Trump, or David Sacks.
Cardano fans believe a meeting with Musk could be a game-changer, potentially leading to the Department of Government Efficiency (DOGE) adopting Cardano’s blockchain. They highlight its low transaction fees, 100% uptime, and “Made in USA” status as key advantages.
However, Hoskinson’s claims should be cautioned, as he has a history of making bold promises that don’t always materialize. For instance, in January, he hinted at a partnership with Chainlink (LINK), but no official deal has been announced yet.
Cardano’s price has stabilized and tested the key resistance level of $0.802, its highest point in March 2024. It is currently supported by the 50-week moving average.
Cardano has completed the second phase of the Elliott Wave pattern. If the pattern continues as expected, it will enter the third phase, which is typically highly bullish. In this scenario, the next key target would be the 61.8% retracement level at $2, representing a potential 155% increase from the current price.
Also Read: Grayscale Proposes First-Ever Cardano ETF for NYSE Listing
