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Reasons why Cardano may be a better bet than XRP or Litecoin in 2018 ahead
Now that the crypto market seems to be on its way to get back in the business, one of the things that the community has been questioning the most is which would be the best crypto to put the bets on for what it remains of the year 2018.
Let’s recall that last year this was a ubiquitous question as well and that only those who made the right decision ended up obtaining great profits, which is precisely what most of us want to respite at the end of this year.
In this matter, two of the most desirable candidates are Ripple (XRP) and Litecoin (LTC), but is it possible that we have another reasonable option in the market? Well, it all seems to point that we do, and it is nothing less than Cardano (ADA), the “decentralized public blockchain and cryptocurrency project” that is currently at the 8th position of the market charts.
Let’s study the main disadvantages that both the Ripple’s XRP and Litecoin (LTC) token have over Cardano (ADA), and why Cardano seems like a better (at least as good as them if not better) option of investment in the coming months of 2018.
XRP and Litecoin (LTC) disadvantages
Ripple (XRP) or just (XRP), as it is most likely known these days, has been struggling with the fact that the Security and Exchange Commission (SEC) may be following the trace of the coin in order to set a dictamen on whether or not should the token be classified as a security.
In this matter, one of the moves that Ripple Labs made was to differentiate what Ripple (the company) is, versus the digital asset XRP, and the way it functions, but the truth is we still have to wait a bit to see what will happen regarding the classification.
Furthermore, the company is currently facing three different lawsuits that accuse the crypto of being a security, so this for sure is something the company needs to surpass before being a good candidate of investment during the last two quarters of the year.
In relation to Litecoin (LTC), the story is actually not that different. In fact, Litecoin (LTC) has been struggling for a couple of months now with the discouragement created after the recent Litepay failure, a fact that the company is currently trying to fix via an alliance with a German bank with which it is planning to link fiat and crypto as a unit. Similarly, the token has been very much criticized by the behavior of the CEO of the company that after a large number of critics has started to get defensive with messages such as the following:
“I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!”
What’s exciting about Cardano?
As it was recently confirmed, Cardano (ADA) is now one of the privileged tokens in the market that is being considered by Coinbase to be listed anytime soon (alongside other candidates such as BAT, XLM, ZRX and ZEC), a fact that, naturally, has created a lot of traction around the crypto.
Let’s recall that during the hard times that the crypto world experienced not so long ago, Cardano (ADA) was one of the most solid tokens in the market, having acceptable performances day after day. And additionally, the crypto is the first virtual coin of the market that is centering on research to set a milestone in the growth path.
We can all agree that great things may be happening with the coin in the coming months, and this is something that is confirmed with the asseverations of the CEO of IOHK and co-founder of the company, who expressed:
“I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.”
Indeed, Charlie Lee is fighting as hard as he can to bring Litecoin up (and he probably will be successful in that in the end, too), and Ripple Labs is working over the clock to get things fixed for the token, but Cardano (ADA) has excellent moves under its sleeve that you must not miss. The blockchain has an incredible real-life-use purpose, invest by studying the purpose and not just seeing the hype about any crypto. Over to you.
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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 Maxpixel.net
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. One of the ways to have a successful…
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…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
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