Cardano (ADA) has always been more than just a cryptocurrency, it provides developers with a platform where they can create dApps, smart contracts and token issuance using various coding languages. Cardano has been experiencing a steady gain since the announcement of upcoming shelly release with staking pools. The market condition for this cryptocurrency is going well so far and with the recently announced new trading pairs on Binance (one of the biggest and most influential cryptocurrency exchange) has lifted Cardano’s value and uncoupled it from Bitcoin.
Cardano’s Performance (Prior Binance Announcement)
Cardano needed an uplift to stay in the green and finally, it got the much-needed boost from Binance new trading pairs announcement yesterday morning. Although it is ranked as the 7th biggest cryptocurrency on CoinMarketCap. It was a disappointing day for trading in the cryptocurrency market and many coins suffered from a definite decline because of U.S tax return day. Even the crypto giants such as Bitcoin, Ethereum and Ripple couldn’t stay immune to such market conditions. But it was Cardano that outshined all of its adversaries and wasn’t dragged down so low.
On Monday, the announcement of listing Cardano on Huobi Pro (China’s biggest and second largest exchange of the world) created an uphill trend for ADA and kept it stable while the market experienced its ups and downs. Listing on Huobi pro is a milestone in itself for Cardano because now the coin has a chance to enter one of the major cryptocurrency markets in the entire world. Chinese traders are flocking towards newly enlisted coins and there’s a good sign that this trend won’t wear off for long.
Announcement of Binance
Cardano has been listed on Binance but it was coupled with Bitcoin or Ethereum. Which means ADA was traded only with these two pairs. But on Tuesday, Binance declared that they’ve expanded Cardano’s trading pair and introduced ADA/BNB (BNB is Binance coin) and ADA/USDT trading pairs for traders. The reason why this news is a pretty big deal is that now traders are now provided with the flexibilities of trading Cardano (ADA). Nothing could expand trading opportunities for an Altcoin more than having their trading pairs expanded by one of the biggest cryptocurrency exchange. This announcement came out at a preferable moment. Just when the Huobi listing was about to wear off. All of these events including the upcoming release make Cardano, one of the best coins to hold at present.
Cardano’s Performance (Post Binance Announcement)
The announcement created a spike in Cardano’s market value and the investors have created a pump-like situation for Cardano after the announcement of expanding of trading pairs on Binance. Trading against Binance coin and Tether which is U.S dollar equivalent for traders indicates that there’s going to be an increase in the trading volume of ADA in the coming days as it already took over 5% of the total crypto market trading volume. Its features such as ease of developing using several languages, the low transaction fee is attracting more investors and new adoptions all over the world. The organizational superiority of Cardano is now evident and the anticipation of what comes next is doing its job and keeping ADA up by 4.77% on CoinMarketCap.
The best thing about a pump is the sight of rising prices, reaching peak values and all around healthy growth. Cardano has recovered from the previous dip with a gain of 67.63% in the last 7-days. ADA has been reportedly grown more than 22% overnight and its currently at $0.252 with a market capitalization of $6.55 billion. $610 Million worth ADA has exchanged hands during the past 24 hours. But the worst thing about a pump is that it is always followed by a dump. Although Cardano’s performance is going well so far, it’ll be wrong to comment whether these conditions will remain in the coming days.
The volatile nature of cryptocurrency’s market forbids its traders as well as investors and analysts to make predictions and only promotes a comprehensive preparation for the days to come. Even though there are dump signals apparent along Cardano’s path, it remains one of the top 10 major cryptocurrencies and an outstanding project that has more to offer in the coming days. So, it’s better to hold on than missing out once the bulls take control.
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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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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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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%.
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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 been…