Nubank Adds Cardano, Boosts Crypto Offerings by 20%

Nubank, a leading fintech company in Latin America, has expanded its cryptocurrency offerings to include Cardano (ADA) and several other digital assets. This move brings the total number of cryptocurrencies supported by Nubank to 20, catering to its vast user base of 100 million across Brazil. Alongside Cardano, Nubank has also added Algorand (ALGO), Cosmos (ATOM), and Protocol (NEAR) to its platform, solidifying its position as a diverse provider of crypto services in the region.

The timing of this expansion is strategic, coinciding with significant growth in both the crypto market and Nubank's own financial performance. The neobank has experienced a remarkable increase in revenue, rising from $245 million in 2021 to nearly $3 billion by the end of 2024. This financial momentum has enabled Nubank to aggressively scale its services, establishing itself as a major player in Latin America's crypto and finance sectors. Cardano, known for its efficient transaction speeds and low processing costs, has been a target for Nubank for some time.

Cardano, often seen as a challenger to Ethereum, is poised to benefit significantly from this partnership. The collaboration between Nubank and Cardano could enhance ADA's presence in Latin America, a region where crypto adoption is rapidly increasing. Nubank's extensive user base and user-friendly application will expose ADA, along with ALGO, NEAR, and ATOM, to a large consumer audience. This increased accessibility is expected to drive further interest, particularly in Cardano, potentially boosting its market value.

As Cardano's blockchain ecosystem continues to evolve with new DeFi projects and collaborations, support from a major player like Nubank could accelerate its progress and lead to higher user engagement. This partnership is set to benefit both Nubank and Cardano, positioning ADA as a mainstream crypto contender in the rapidly growing Latin American crypto market. With the potential for growth on the horizon, ADA adopters are optimistic about the upcoming market opportunities.

In the past 24 hours, ADA has shown significant price movements. Starting at $0.7320, it quickly rose to $0.7384 within an hour before facing a death cross on the MACD, causing it to drop to $0.7218. A subsequent buying spree pushed ADA up to $0.7482, but overbought levels indicated by the RSI led to a correction down to $0.7338. Following this, an extended uptrend took ADA to $0.7629. Another overbuying correction pulled ADA down to $0.747, and despite attempts to advance, it faced rejection at $0.766, leading to a downtrend that found support near $0.74. By 3:45 UTC on March 26, a confident uptrend began as ADA continued to test resistance levels.

As of the last update, ADA was trading in a range around $0.7688. If ADA can break out of this range, new support can be established near the current resistance, making further upward movement more predictable. However, based on previous performances, ADA may spend more time around the $0.76 mark before making significant upward progress. According to the analyst's forecast, ADA has the potential to ascend to $0.80 soon, driven by the strategic partnership with Nubank and the growing interest in the Latin American crypto market.