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Cardano (ADA): Consider this advice and you probably won’t go wrong
With everything going on in the cryptocurrency world, it is still fair to say, always, even if in the worst times there are still the best and the worst ones (the coins) when ranked. Cardano (ADA) is one of the cryptocurrencies and as the cryptocurrency reversal continued it has stood out to be one of the worst performers together with NEO.
The recent ranking by CoinMarketCap shows Cardano at -4.27% vs the US dollar. That is not bad as it is ahead of NEO (best in the worst ranking list). When looking at the overall picture, however, for ADA it is not something to scratch the head about although it affects its short-term standing.
When looking at the past two days, Cardano was doing well (recorded a +19 price jump) but today’s reversal has just overshadowed everything. Generally, all the coins are dropping and whenever you see Bitcoin dropping, it simply sweeps across the altcoins. However, we can argue that for Cardano it could be due to the news in the home region.
First, the financial struggle going on with the JFSA could have caused panic among the investors and secondly, the AML regulations issue in South Korea as well might have had negative implications for the investor spirits.
Ideally, the performance of Cardano is weighing down especially after that in the past two days. You will be excused if you asked politely what exactly is happening to ADA.
But if you think all is in flames, here is a great advice
Ethereum co-founder, who as well co-founded IOHK Cardano, Charles Hoskinson, has got some advice about cryptocurrency investing and maybe it is the kind of advice you need at the moment as the prices sink into the red.
Speaking to BlockchainNewsKorea, Hoskinson had a message to all viewers and according to him whenever there is great new technology emerging the feeling is of doing something right away. Hoskinson also believes that the current happenings have nothing to prevent investors getting into cryptocurrency.
In fact, he doesn’t see a specific time to get into cryptocurrency, the reason being he sees plenty of opportunities being always there, either today, tomorrow, two or three years from now. To mean if you fail to make it now, still, you can do it big with the cryptocurrency later (the earlier the better as in any case, though).
Now, Charles sums it with some internet analogy that “you can’t have it all whenever you need it.”
He says the internet is old enough but still can start a business now and become a billionaire. Therefore, it is not true that if you didn’t start when it started you won’t have the next Amazon.
This takes us back to our start that for now, Cardano (ADA) is doing worse but then comes Hoskinson’s advice (which you can’t go wrong with). So do you see Cardano ranking just above or say just below bitcoin in some years to come?
Only time will tell, after all, it is a worthy piece of advice, isn’t it?
We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up below!
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 Jeremy Lelievre via Flickr
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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