Samsung’s partnership could bolt Cardano into the greens

Highlights

Cardano has severed rough months in accordance to the cryptomarkets
Samsung’s partnership in line with Cardano’s tree plantation initiative could result in the rally of the token
Such a deal could result in Cardano entering into mainstream conversations.

The cryptosphere has been in a gully for quite some time now for various reasons, while major tokens have been through major & rigorous price corrections. From being one of the top 3 cryptocurrencies, Cardano has slipped to being the 6th most valued currency by market cap, the price corrections come in accordance to larger bearishness in the markets.

In the last quarter of 2021, Cardano had unveiled its tree plantation initiatives where it called the donation of 15:1million ADA will result in plantation of trees while also the donors receiving an NFT called “NFTree” in exclusivity hierarchies, depending on the amount donated.

While noble being the cause, it failed to trigger a significant impact on the price of the altcoin, however, in the latest development, Samsung has pledged to contribute 2 million trees in partnership with a Cardano-based climate solution platform, Veritree. Such a deal could inherently mean good news for the blockchain.

A partnership from Samsung could lead to Cardano being a topic of conversation into the mainstream and new users which could consequently lead to the token discovering the greens again, especially when climate change & soil degradation are huge topics of concern being discussed in various forums & platforms.

Another reason that insights the token is its partnership with Veritree, where the smart contracts being used to facilitate the transactions could be tested and propelled into an acknowledgment of tokens capability & interest developers & investors.

At the time of writing about 2.45 million users invested in Cardano have witnessed losses for straight 4 months. However such events could change the reds to green as it could boost Cardano’s social media presence, which ultimately grew by 468% in 2021.

Cardano’s ADA is currently trading at $1.23, while it has seen a drop of more than 6% in the past 24H & 8% in the past week. The token did witness its all-time highs in Sep 2021 where the token reached its phenomenal heights of $3.10 but crashed by a mile as a part of the larger bearishness in the crypto markets. Such news & deals with tech giants could help investors to hope for better days in the crypto spectrum.