The Cardano Foundation unveiled Reeve, an enterprise-grade financial reporting tool for ESG institutions and public agencies to publish auditable records on-chain.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
2 mins read
On Tuesday, July 8, the Cardano Foundation announced Reeve, a new enterprise-grade financial reporting tool built on the Cardano blockchain. The launch now positions Cardano in the corporate compliance space, as the Charles Hoskinson-led Layer-1 network looks to deepen institutional adoption and diversify token utility beyond DeFi and staking.
According to the Foundation, Reeve enables ESG-aligned institutions and public agencies to publish auditable, verifiable financial records directly on-chain. The tool also integrates with ERP systems and is designed to eliminate the opacity and inefficiencies of siloed databases.
The solution targets NGOs, ESG-focused enterprises, and public institutions, key sectors under mounting regulatory pressure to modernize reporting. The Foundation added that Reeve is the first of several products designed to position Cardano as a “trust layer” for enterprise environments.
Cardano ADA $0.58 24h volatility: 1.0% Market cap: $20.89 B Vol. 24h: $581.68 M price stood at $0.5820, at press time, consolidating above the 20-day MA with light intraday gains. According to the TradingView chart below, ADA price action forms a falling wedge on the daily chart, a pattern that historically signals reversal when paired with rising RSI and trading volume increases.
Cardano price forecast | Source: TradingView
The wedge breakout target sits at $1.30, a potential 120% rally from current levels, if bulls can confirm a close above the upper band at $0.6053. The RSI at 46.00 is trending upward, and Bollinger Bands are narrowing, signaling consolidation before a further leg-up.
On the downside, losing support at $0.54 could open the door for a pullback to $0.50 or even retest of the wedge base near $0.44.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
