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Cardano (ADA) Might Soon Become a Top 4 Cryptocurrency

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Cardano
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Every cryptocurrency’s goal is to rise high on the list of largest cryptos, and Cardano (ADA) might soon get that opportunity. Let’s see why this may happen soon.

About Cardano (ADA)

CoinMarketCap has become one of the biggest and most visited websites for tracking the progress of cryptocurrencies around the world. Whenever someone wishes to check their favorite crypto’s price, progress, or stats, this is usually where they end up. As such, CoinMarketCap also offers a list of all cryptocurrencies, ranked in a specific order that shows their success and market cap.

Due to its popularity, every coin wants to be seen among the top ones on CoinMarketCap’s list, with Cardano (ADA) being one of them as well. In fact, this coin might soon become the new holder of the fourth place on CoinMarketCap’s list. This is due to the fact that its popularity continues to grow, and that the coin has performed rather well when all other cryptos failed.

Cardano currently holds the 8th place on CoinMarketCap’s list, with a market cap of nearly $4.5 billion, and a current price of $0.172924 per coin. However, despite the low price, Cardano has been one of the most stable cryptocurrencies this year. The only large changes in its price were at the beginning of the year, when all cryptos flourished, and in mid-May. On both of these occasions, ADA’s price went up, and the coin has performed really well.

Of course, soon after, the price returned to its current value, which is mostly where it remained ever since January. This is proof of Cardano’s stability and control over its assets, which is a good thing since it allows us to see that the coin is not a dangerous investment. All sudden changes to ADA’s price so far were positive, which inspires trust.

Now, the market seems to be crypto-friendly again, and ADA has started experiencing another price increase, even though it is slow and careful. This shows us that the coin isn’t rash and that it won’t ruin its investors as soon as the conditions become less than friendly once more.

How can ADA reach the fourth place?

ADA has a good, strong team behind it, which dedicated a large amount of time to the creation and development of the coin and its technology. Where other cryptos were quick to launch their coin and see what happens, Cardano’s team took it slowly and did the job right. Not to mention that it is led by Charles Hoskinson, who was the coin’s co-founder, and is also known for being a co-founder of Ethereum.

Hoskinson has proven to be very capable in the crypto field and has created an equally as capable team to work on this coin. Recently, however, he has become known for some extremely optimistic statements, expecting the crypto world to receive trillions of dollars from the Wall Street. Another big statement of his came quite recently when he expressed hope that ADA will become a first trillion-dollar coin, which would prove that it is self-sustainable, and a strong, positive force in the crypto world.

As mentioned previously, Hoskinson has proven to be capable and having his feet on the ground. If such an individual decides to predict things like these, there is a good chance that his predictions may come to pass. If this happens, then ADA has more than a good chance to become the 4th biggest coin on the market and beat its competition. For now, nothing of this is certain, of course. However, it is probably a good idea to keep an eye on Cardano and be prepared for a lot of positive development.

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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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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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