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Cardano could bring out the next crop of crypto-millionaires by 2020

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Cardano ADA

By now you must have heard about Cardano (ADA) considering the amount of attention it has been getting of late. Launched in September 2017, Cardano (ADA) has managed to quickly make a name for itself as one of the top 10 virtual currencies in the market with a market cap of $3,381,881,920 (at the time of press).

If you are wondering what the future holds for Cardano (ADA), then you are reading the right article. In this writing, I am going to try and share with you relevant Cardano price prediction giving you also an overview about Cardano (ADA) and what makes it stand out.

What is Cardano (ADA)?

Like Ethereum, Cardano is a blockchain technology that was created for the development of smart contracts and decentralized apps. And just like Ethereum where Ether is the digital currency or token used to facilitate transactions on its platform, ADA is the default virtual currency for Cardano’s platform.

However, Cardano offers superior technological improvements over other digital coins such as Ethereum as it aims to develop an accessible, interoperable 3rd generation blockchain. Shockingly, the brain behind Cardano (ADA) is non-other than one of Ethereum’s co-founder, Charles Hoskinson who conceptualized it in 2015 and later launching it in 2017.

Cardano’s Investment Brief History

Unlike other virtual currencies, Cardano did not commence with promotions immediately after formation. In fact, the now number 7 cryptocurrency in the market was worked on for over two years before the management decided to launch it to the public.

Within a month into existence, the digital coin became popular in the crypto market getting listed in some of the leading virtual currency exchanges in a short time. The value of ADA, which was initially at 0.021 US dollars at the time of launch, hit a high of 1.22 US dollars early this year.

Value growth of over 5,000 percent in barely four months. During the same time, Cardano’s market capitalization grew from $0.56 million to a whopping 31 billion US dollars.

Investors found the digital coin as a viable investment asset due to Cardano’s substantial technological superiority it offers over other virtual currencies, and due to a competent and transparent team behind its operations.

Cardano (ADA) Long-Term (2020) Price Prediction

Different crypto analysts have conflicting opinions concerning Cardano’s price prediction for the year 2020. For instance, the technical analysis done by longforecast.com show that Cardano’s price valuation in December 2020 might be at $1.89 which is seen to be a more realistic forecast for the fast-growing crypto.

In regards to its position in the market, there is an alternative prediction for the digital coin:

  • Virtual currency investments will replace fiat currency which will drive the supplementary adoption and development of the virtual currency.
  • The Eastern Pacific looks to be warming up more towards Cardano raising the speculations that it might be used widely in that area.
  • Cardano has the potential to become one of the top-5 virtual currencies in the market although LTC, Ripple, and other cryptos offer it tough competition.

However, Cardano (ADA) future prices depend on market shifts and waves, and it is paramount to note we cannot give exact predictions since more superior cryptos and blockchain technologies keep on popping up from time to time. Still, all in all, as things stand, Cardano is ‘red hot’ investment opportunity and could have given the birth to many cryptocurrency multimillionaires when we reach 2020.

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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

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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