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Cardano (ADA) Might Soon Become a Top 4 Cryptocurrency

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Cardano

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

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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