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ADA April analysis: Cardano grows 53% over last 30 days

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Cardano
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Cardano has been making impressive developments in the recent past; asserting its mark as a valuable digital asset, giving its holders hope of getting high returns in the long run. Cardano (ADA) is now among the top 10 most respected cryptocurrencies in the world. Having catapulted its way to 7th position by market capitalization, Cardano’s market cap of more than $7 billion places it firmly between Litecoin and Stellar.

Due to the volatility and fluctuation in prices of the Bitcoin, the digital currency with the highest market capitalization ever recorded, a block of cryptocurrency traders are shying away from Bitcoin and moving towards other alternatives and Altcoins. Cardano certainly falls under this group of other options.

Cardano (ADA) 101

Charles Hoskinson, while carrying out his work on Ethereum, set out to form a blockchain that is equipped to deliver scalability, sustainability, and interoperability sufficiently. That’ when he came up with Cardano in September 2017, a Daaps platform that is powered by smart contacts. It has similar functionalities to Ethereum and NEO, and it can be used to create digital tokens as well as supporting side chains.

Despite the digital coin being in its infancy stages, ADA’s development team is continually working on new features for the convenience of their traders. It has also managed to accumulate a formidable growth of more than 50 percent in April, thanks to constant technological developments and a stream of mega exchange listings.

Biggest Chinese Exchange Listing Cardano

The April 16th announcement by Huobi, the second largest exchange in the world and China’s largest cryptocurrency exchange, announcing the listing of Cardano came as a significant boost for the digital asset. In a declaration by the exchange platform itself, it was made known that depositing ADA would be availed on April 16th on the Huobi Pro International trading platform, and trading would start a day after the listing.

The announcement saw the smart contract token rise reinforcing its bullish hike and raising euphoria among the coin’s lovers.

Technical Developments of ADA

As many crypto coins’ holders grow tired of accepting the limitations and flaws of their tokens, their complains and frustrations remain as it is – in most of the cases. This coin is different.

Indeed, the Cardano team has been making considerable improvements in their core architecture through technological developments. One of the significant technical updates the platform has seen includes its Daedalus Wallet software upgrade, being made in March.

Daedalus is the default wallet provided by ADA blockchain for storing their coins. Last week, Cardano’s development team successfully implemented the asynchronous wallet restoration feature for its users’ convenience that will make Cardano more accessible and user-friendly to traders.

The Future of Cardano

In the ferocious competition face, Cardano has managed to be the most sought-after cryptocurrency; by both, the experienced and inexperienced traders at the moment. Its $7 billion cap in just but months alongside securing a major exchange listing establishes ADA as an essential trading commodity to follow.

The ADA to USD price shot up to $0.13 this past week from a price of $0.02 – a piece that had stuck for months. Daily trade volumes have also caught steam as buying and selling are picking up. Besides, as the development crew prepares to launch smart contracts accompanied by its IELE Virtual Machine, the bullish flight of Cardano looks impressive and pretty much worthy of studying closer.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Jonathan Pagel via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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