Well, shucks, folks! On Tuesday, July 8, the Cardano Foundation rustled up a new enterprise-grade financial reporting tool, Reeve, built on the Cardano blockchain 🤠. This launch lassos Cardano into the corporate compliance space, where the Charles Hoskinson-led Layer-1 network aims to corral institutional adoption and diversify token utility beyond DeFi and staking 📈.
According to the Foundation, Reeve lets ESG-aligned institutions and public agencies publish auditable, verifiable financial records directly on-chain 📊. This tool also integrates with ERP systems and is designed to eliminate the opacity and inefficiencies of siloed databases 💻.
The solution targets NGOs, ESG-focused enterprises, and public institutions, key sectors under mounting regulatory pressure to modernize reporting 📝. The Foundation added that Reeve is the first of several products designed to position Cardano as a “trust layer” for enterprise environments 🔒.
Now, let’s mosey on over to the ADA price 📊. At press time, it stood at $0.5820, consolidating above the 20-day MA with light intraday gains 📈. According to the TradingView chart below, ADA price action forms a falling wedge on the daily chart, a pattern that historically signals reversal when paired with rising RSI and trading volume increases 📊.
Cardano price forecast | Source: TradingView
The wedge breakout target sits at $1.30, a potential 120% rally from current levels, if bulls can confirm a close above the upper band at $0.6053 🚀. The RSI at 46.00 is trending upward, and Bollinger Bands are narrowing, signaling consolidation before a further leg-up 📈.
On the downside, losing support at $0.54 could open the door for a pullback to $0.50 or even retest of the wedge base near $0.44 😬.
Meanwhile, retail investors are turning to Snorter, a Solana-based Telegram trading bot for potential meme coin alpha 🤖. With $1.46 million already raised in its presale, the $SNORT token is quickly becoming the gateway for fast, secure, and MEV-protected meme trading 🚀.
Currently priced at $0.0975, $SNORT powers Snorter Bot’s full suite of tools, limit orders, rugpull detection, copy trading, and lightning-fast token sniping across Solana 🤯.
For ADA holders looking to diversify into high-volatility opportunities without leaving Telegram, Snorter offers a powerful on-ramp into the world of degen trading with enterprise-grade precision 📈. Click here to enter the Snorter presale 🎉.
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2025-07-09 01:33