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TL;DR

  • Potential Cardano-Kraken Partnership: Charles Hoskinson of Cardano proposed a collaboration with Kraken to develop a layer-2 blockchain network.
  • Coinbase’s Layer-2 Network: Coinbase has launched Base, its layer-2 network for decentralized app development.
  • ADA’s Price Outlook: ADA’s price has recently approached $0.40, with predictions suggesting a rise to between $10 and $30 by the end of 2024, influenced by global market trends.

Cardano’s Potential Partnership

The founder of Cardano – Charles Hoskinson – recently took it to X (Twitter) to offer a potential collaboration between his organization and the cryptocurrency exchange Kraken. Specifically, he wants the two entities to build a mutual layer-2 blockchain network.

Hoskinson’s comments came a few days after Kraken displayed its intentions to work with leading companies to establish its own L2 solution. 

One cryptocurrency exchange that has already launched such a network is Coinbase. Dubbed Base, it enables developers to build decentralized applications (dApps) with access to the platform’s verified users and assets. 

Is ADA Poised for a Rally?

Cardano’s native token – ADA – has been among the best-performing cryptocurrencies lately, reaching nearly $0.40 (per CoinGecko’s data) last week. Moreover, some analysts believe the uptrend could continue in the following years. 

The one using the X handle – Ali – thinks ADA might skyrocket to almost $10 by the end of 2024. Lucid was even more bullish, claiming the token’s price could explode to the astonishing $30. They based the forecast on the assumption that global could act as a catalyst for the cryptocurrency market and push its capitalization to $10 trillion within the decade.

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