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- 1 The Cardano community is expanding its technology in the African and Asian regions.
- 2 Cardano’s Adaverse will work on the economic and social infrastructure of Africa using its blockchain technology.
Adaverse, a Cardano Ecosystem Accelerator, has shared about its collaborations based in Africa and Asia. Through this collaboration, it will bring entrepreneurs, strategists, and mentors together who build a “robust foundation,” in these regions.
As Adaverse mentioned, this is a “collaborative initiative between EMURGO and Everest Ventures Group, that will support blockchain founders with funding, mentorship and tech infrastructure to scale web3 solutions.”
IOG and EMURGO is building a significant presence in the African region. Meanwhile, the African investment initiative is a almost $200 Million dollar fund that is aimed at investing in African blockchain startups.
Web3 Scaling Solution by Cardano’s Adaverse
As noted by Adaverse, it will invest $100K to $300K to startup companies and also provide access to Cardano’s ecosystem. The recent investments by Adaverse in Thailand and Vietnam are heading towards the development of web3 infrastructure for remittance payments.
In its accelerator program, Adaverse has more than 35 portfolio companies from the field of web3, exchanges, non-fungible tokens (NFTs), gamefi, decentralized finance (DeFi), and proptech. A Cardano bridge will connect resources across the continents. Moreover, the web3 entrepreneurs from Africa and Asia will get the support of this program.
Meanwhile, Adaverse also provides funding, technical, strategic, and operational expertise that accelerate companies. Through project development, tokenomic design, roadmap creation, legal advisory, community, and marketing development all companies will polish their development strategies.
Cardano ($ADA) Price Analysis
At press time, Cardano ($ADA) price is trading at $0.381136 with a 24-hour trading volume of $215.96 Million. Cardano is down 2.45% in the last 24 hours, while its market cap is $13.27 Billion. The coin noted its 24h low at $0.3766, while 24h high was at $0.3911. In the last 7-days, the price of ADA dropped to $0.3766, on the other hand it rose to $0.4146.
In mid-April, ADA marked its high at $0.4604 that is also its 90-day high, according to Tradingview data. It is quite clear that the coin is down around 20% from its April month peak.
From recent days, ADA has witnessed quite low market volume that showed a bearish outlook. On May 6th, yesterday ADA price reached its 200-day EMA, then with the dominance of bears in the market, its price dropped to its 100-day EMA, which is at $0.3787. The RSI further showed a bearish trend in recent days.
According to Cardano Feed, the transaction volume in Cardano saw huge upsurge amid the recent price fluctuation. It further mentioned that ADA Network is in “bullish outlook.”
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
