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Cardano (ADA) Markets Fuels After Binance Announces New Trading Pair

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Cardano
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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.

Future Prospects:

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.

Conclusion

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.

We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up for our Telegram!

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 K putt via Flickr

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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