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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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