"Wow, will the price of ADA go up again after this?"
Charles Hoskinson, the founder of Cardano (ADA) has recently shown interest in signing an agreement with US-based cryptocurrency exchange Kraken to build a layer-2 blockchain network.
The move came shortly after Hoskinson discovered that Kraken was actively looking for blockchain developers to improve its technology capabilities.
Kraken's goal of launching a layer-2 network is part of a broader trend among crypto firms extending their operations into the development of blockchain technology.
In addition to opening up new revenue streams, the strategy could also strengthen ADA and Kraken's position in the crypto market, which has been growing rapidly in recent times.
On a different side, Coinbase's research for a layer-2 network called Base built on OP Stack in collaboration with Optimism has succeeded in improving the efficiency and experience of users who want to run decentralized applications on Ethereum (ETH).
Looking at the price chart, ADA needs to break the $0.37 resistance zone first to continue the rise up to $0.36 and $0.43, but if it fails then the digital asset can fall back to $0.32 followed by $0.30.
As of this writing, the price of ADA still recorded a plunge of 7.12% at $0.35 in the last 24 hours with the $12 billion market capitalization down about 2.21% over the last week.
