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

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Cardano

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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