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Amid the market recovery, Cardano blockchain announces a new partnership with Huawei’s cloud.
Aptos price plummets 21% as 25 million locked APT tokens are released. Meanwhile, Castula Network emerges as the next generation of Web3 DeFi crypto exchange, allowing users to buy, sell, and swap cryptocurrency instantly through its non-custodial crypto application.
With over 50,000 supported currency pairs, no need to connect a wallet, and free of custody, Castula Network is projected to set the DeFi space in a frenzy, with expectations of its presale selling out in the coming months.
Cardano price up amid partnership with Huawei Cloud
Cardano recently announced its partnership with Huawei Cloud to advance its ecosystem by integrating Huawei’s robust cloud infrastructure. The move may empower developers to create innovative Web3 solutions on Cardano. Additionally, the partnership may improve the interoperability and scalability of Cardano’s cloud services.
As the Cardano community awaits more details and integration of this partnership, there is growing excitement about the potential benefits.
The trading volume has had a 210% surge to stand at $1.2B, reflecting the excitement of the partnership. However, the new development has yet to reflect on the price of Cardano, as it has witnessed a 12% outflow in the last seven days. Analysts believe nothing has changed regarding Cardano coin price action. ADA is precisely where it should be, consolidating in the $0.55-$0.80 range before it breaks out to $1.70.
Aptos faces price correction amid major token release
Aptos’ price has experienced a lacklustre performance in the crypto market. With the anticipated upcoming supply, which is expected to increase the token supply by $300 million, the price of Aptos is still registering a significant decline. It had an over 21% decline in the past week, making it among the worst-performing cryptos, according to CoinMarketCap.
Aptos crypto released 24.84 million locked-up APT tokens on April 12. Of these tokens, $141 million was distributed to core contributors, $100 million to investors, $38 million to community members, and $16 million to ecosystem development. The released tokens only represent 6% of the current circulating supply; the move has significantly doubled its trading volume, with a staggering 198% at $520 million.
Castula Network (CNK): Next-gen web3 DeFi crypto exchange
Castula Network will be the next-generation Web3 DeFi exchange that enables users to buy, sell, and swap cryptos through its non-custodial crypto application. Leveraging infinite liquidity, users will swap cryptos in a simple, reliable, and fast solution.
Impressively, the platform has over 50,000 supported currency pairs, no need for connecting wallets, and is free of custody. While the DeFi market still needs help with increased scams, complex technology and protocols, and issues with multi-chain compatibility, Castula Network enters the DeFi space to solve these problems, bringing Web3 protocols to the masses.
Castula Network will not require KYC or account setup to initiate exchanges or swaps. As part of the ecosystem, Castula Network will incorporate a portfolio tracker where users can track their wallets, exchange accounts, and other assets, such as stocks. Moreover, users will be updated on market conditions with easily digestible charts and statistics, allowing them to analyze their performance and improve their results.
Interestingly, the CNK token will govern the Castula Network ecosystem, starting at an initial offering of $0.1. Holders of CNK tokens will have access to exclusive offers on services offered in the Castula ecosystem, such as discounts on trading and swapping fees initiated on the decentralized exchange (DEX). Castula Network provides a promising solution to address scalability and security challenges in the DeFi space.
Conclusion
Aptos’s price is declining as its circulating token supply surges, potentially overriding its demand. Meanwhile, the Cardano ecosystem is excited over its partnership with Huawei Cloud, which offers speed, security, and unparalleled scalability.
Castula Network, on the other hand, is celebrating the launch of its technical whitepaper and is poised to be the best crypto platform and the best DeFi coin to watch in 2024.
To learn more about this project, visit the Castula Network presale website or join the community via Telegram Twitter
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This article first appeared at crypto.news
