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Cardano (ADA) might lead the new era of the crypto world

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Cardano ADA

There are many things hinting towards Cardano (ADA) becoming the leader of new crypto era ahead; we’ll focus as to ‘why we believe so’ here in this post. So, we all know how important it is to make the right decisions when it comes to acquiring a certain crypto, and of course, by ‘right decision’ we mean to choose the coin that offers the more profitability, as well as the best characteristics in order to resolve any of the issues that exist now in the sector.

In this sense, the typical concern is ‘what crypto should I invest in?’, a thought that is in our heads constantly whether we are investors or enthusiasts and things get even harder once the market starts showing some bullish moves such as the ones that we could see till yesterday in the cryptosphere.

It is because of this that now many crypto users are thinking of what would be the best decision to make in the following days, and for that, we may have the answer. Stay with us, and let’s discover why Cardano (ADA) is the coin that may lead the new era of second-generation cryptos!

What Cardano has to offer

Cardano (ADA) is a coin that was introduced to the market by no one else than Charles Hoskinson, a businessman who happens to be as well the co-founder of Ethereum and the founder of IOHK (the firm behind Cardano).

Hoskinson designed Cardano (ADA) to be the next-in-line crypto and the main competitor of Ethereum; and logically, he has made sure to deploy the greatest updates to resolve the issues that the Ethereum network has not resolved so far.

It is well known that Ethereum has managed to be the second crypto in the market by becoming the preferred platform for smart contracts and ICOs to be launched. However, there are several issues in which the existing platforms still are not that skilled, and that is precisely the moment when Cardano enters in the picture to become the solution for the Ethereum and cryptocurrencies problems in general. Some of the main deficiencies are:

  • Safety: Most cryptocurrencies struggle with safety problems with the information they manage. In this sense, Cardano offers a layered architecture that guarantees the security of Smart contracts in the platform. This basically means that as the platform is divided into layers, one process is deployed completely independent from another, which as a result, makes information handling a not-shareable thing.
  • Communication: Communication between networks is always a complicated thing, especially, because there’s not a way to confirm where specific funds are coming from. And this has been precisely a significant problem when someone aims to create a start-up in the form of an ICO because it would be mandatory to inform the bank of the origins of the funds, which in essence, it’s just against crypto nature. Cardano aims to solve this issue by providing a space in which communication would not be a problem.

Also, Cardano aims to attack new markets. For instance, Africa, South America, and Central Asia, which are places somehow unexplored by the crypto sector.

In fact, Cardano (ADA) launched the M-Pesa’s payment system back in 2007 in Africa, a moment that was crucial for the region as mobile phones have a boom in the industry, and through M-Pesa African citizens can easily deploy payments through their phones to several places around the world.

Conclusion

Cardano (ADA) is one of the cryptos in the market that studies the conditions of the sector the most to provide accurate solutions. It won’t be a surprise if the token manages to lead the second generation of cryptos in just a matter of months. So stay tuned, great things are coming with this crypto!

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Ashley Knedler on Unsplash

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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