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Cardano (ADA) Could Be About To Take Off: Don’t Miss Out

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When you talk about third generation blockchain technology, it’s hard not to mention Cardano (ADA). This is one that’s drawn a huge amount of attention over the last six months, both from the perspective of investors/traders and the wider media, and it’s one that’s going to continue to do so as the current correction bottoms out and the bitcoin and wider cryptocurrency markets stage a recovery.

How can we be so confident?

People will say that bitcoin has no inherent value and while there’s a very strong argument that the differentiators between bitcoin and fiat are its inherent value, it’s not a particularly clear argument to make when you’re talking to someone who isn’t that familiar with the space.

Cardano (ADA)

Cardano (ADA)

This isn’t the case with Ethereum (ETH). ETH is used as a function-type asset to facilitate the execution of smart contracts, which in turn form the critical components of decentralized applications. That’s why Ethereum has taken off over the last twelve months (the latest correction aside, of course) – there’s a very easy value proposition associated with the ETH token and it’s rooted in increased demand of the platform and the parallel increased demand for the gas token.

And the same argument applies to ADA.

This is a token that very much supports the ecosystem with which it’s linked, meaning that so long as the adoption of said ecosystem continues to increase, the coin or token should increase in value.

And Cardano is attracting a huge amount of attention right now. Sure, the platform is in its early days and, as such, there’s a long way to go before Cardano can be classed as a serious competitor to Ethereum but that doesn’t mean this won’t happen – just that it’s a bit farther down the line.

There’s also a secondary input here that’s going to drive value in this coin going forward.

Specifically, the Weiss ratings.

As the price of bitcoin and its peers have crashed over the last few weeks, the attention that markets are paying towards the Weiss ratings has dropped off. However, at the same time, the global equities markets are struggling. What we expect, then, is a wave of capital transfer from the stock markets to the cryptocurrency markets.

Much of this capital is going to be what we might deem ‘new capital’ and it’s going to look for a mainstream interpretation of the quality of the various options in the space.

Take a look at the above mentioned Weiss ratings, and you’ll see that Cardano scores above a whole host of its major competitors. ADA has a B rating, while BTC has a C+ rating. Sure, there’s an argument that these ratings are nonsense and – in our eyes – the argument is somewhat valid. That’s not important, however.

These ratings are going to play a role in the way that new entrants judge their capital allocation and when they see a green box next to Cardano and a yellow box next to bitcoin, it’s going to influence acquisition decisions.

So for these reasons, we really don’t see ADA going anywhere but up from here.

Right now, the coin goes for $0.33 a piece and commands (at these prices) a market capitalization of $8.75 billion. At these metrics, however, ADA is down more than 75% from highs or, as is another way to put that, is available for just a quarter of the price it traded at the start of this month.

Stick it out and pick the winners.

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

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.

Image courtesy of Cardano

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. One of the ways to have a successful…

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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…

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