Cardano has expanded exposure to more than 160 networks and 400+ tokens after integrating LayerZero, an omnichain messaging protocol. Despite making this major partnership, Cardano’s token ADA has crashed below 2024 low levels.
Cardano made the single largest interoperability unlock in its history by partnering with LayerZero, an omnichain messaging protocol, opening the network to many other blockchain networks. With this new integration, the Cardano ecosystem gained exposure to more than 160 chains and 400 tokens, increasing the liquidity and accessibility of the $80 billion assets on other chains.
The partnership with LayerZero is very significant for Cardano, as other cross-chain tools are designed for account-based architecture chains, which are common blockchain models. Unlike these generic blockchain models, Cardano follows a UTXO model, and bridges built for EVM-to-EVM transfers are not compatible with this model. Hence, LayerZero is a handy solution.
For developers this integration means they can build applications that send and receive messages, move assets, and coordinate logic across any LayerZero-connected chain.
For Cardano users, stablecoins from other ecosystems can now be brought to Cardano without complex bridging workflows.
Cardano enters CME Group marketplace
Meanwhile, the international derivatives marketplace CME Group announced its latest Cardano, LINK, and Stellar futures started trading on Monday. However, shortly after the announcement, instead of the price spiking, ADA prices crashed by almost 5%.
ADA shows signs of recovery
With the price crash, ADA has fallen to November 2024 low levels, as the token still searches for the floor price. Despite all the integration and the exposure to an international marketplace, ADA crashed below the $0.32 support level, which ADA last tested in the latter end of 2024.
However, the current scenario looks like ADA is recovering, as the Relative Strength Index has once again gotten back into the normal range after being in the oversold region for some time. As the market conditions get better, investors will once again enter the market and start buying ADA.
