A little insight into the market will reveal that it hasn’t been a great year for the crypto market so far. With the crypto biggies like Bitcoin recovering from a major price slump, many investors have shifted their attention towards altcoins. Cardano (ADA), which has been a favorite currency of the crypto community, ranks eighth in the market based on the market capitalization. Considering the overall volatility of the market, Cardano’s recent resistance of $0.03 is hardly a concern for the investors. With the big market players performing badly in the market, the investors are switching to more profitable options, and Cardano(ADA), which is listed among the most promising altcoins, can be a rewarding investment.
The Limitations of the Crypto Giants: The Ethereum Problem
Given the fact that the project is directly linked with Ethereum blockchain, exploring the possibilities of Cardano is not possible without discussing the prospects of Ethereum. When it comes to market capitalization, Ethereum still leads the race with the majority of the ICOs integrated with it. However, the leading players in the market are not altogether free from limitations, and each has its unique set of problems. With low scalability, security breaches and contract bugs, along with challenges like scams, over-centralization, and regulatory issues; much has been talked about the Ethereum’s legal status. In retrospect, the rising altcoins like Cardano and EOS promise to deliver a viable solution to these problems.
The Rising Altcoin and the Nemesis of the Big Players
Many crypto investors are unaware of the fact that Cardano is based on smart contract. Recognised worldwide for faster transactions and as a secure mode of payment, it owes much of its fame to Ethereum and attempts to fill the loopholes in the market. There are only a few decentralized blockchains that come with powerful security attributes, and Cardano ranks among them. Launched in 2016, Cardano’s (ADA) price hiked in January, crossing $1.20. Led by Charles Hoskinson, the brain behind BitShares and Ethereum, Cardano is regulated by strict algorithms, assuring faster transaction and high scalability to its users.
Many will agree that regulation has been a roadblock for the virtual currencies, with traders probing into the compliance factor of the provider. Cardano, which has recently employed the Haskell technology on its platform, users are blessed with a secure and flexible option. The Haskell technology is well-known for its strict algorithms, which ensure there are no technical breaches.
Cardano’s (ADA) Impact on the Market
As evident from the market analysis, Cardano has not been spared from the current depression. With the crypto market struggling to come out from what it seems one of its worst price slumps; Cardano too has experienced a questionable drop in the price. Trading at $0.163413 at the time of writing, it has survived the 4.56% plunge against the USD. As per the details published by Coinmarketcap, it boasts a market capitalization of $4,236,820,378 USD as of April 3, 2018.
The recent 4.07% drop against the dollar, which has created a lot of bustle among the investors, is unlikely to become a big concern at the moment. All eyes are on the Testnet now which plans to act on its promises. Moreover, with developers striving to deliver a flawless platform to its users, the most outstanding aspect of Cardano is the fact that all transactions from its platform are processed in real time.
Why Should the Investors Watch Out for Cardano?
As for the traders who are looking for an economical option, Cardano can be a profitable option. Trading below $1, Cardano offers an excellent entry point for regular investors and a talisman for the big investors. Although the coin is currently in the red, and many investors are looking to sell off their assets, it is wise to hold the funds. After all, Cardano presents its users a cheaper alternative and a highly secure mode of investment. So, if you are a crypto enthusiast who is an admirer of speed, and seeking an economical option, Cardano is your best bet. Also, given the volatile market conditions, with crypto market creeping back from one of its worst collapses, now is the best time to buy this currency, as it is can be sold off at a decent profit eventually in the coming months when the dark clouds disappear.
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 and read our full disclaimer.
Image courtesy of Hanne Miriam Larsen via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
Is Bex500 an alternative to BitMEX?
EOS now available on eToroX exchange
How Bitcoin Has Changed Online Gaming
Bitcoin2 weeks ago
The advantages of bitcoin sports betting
Featured news1 week ago
How Tax Agencies Are Going After Crypto Traders
Bitcoin1 week ago
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Bitcoin1 week ago
Will Bakkt Push Bitcoin into the Mainstream?
Trade1 week ago
Trusted third parties should issue stablecoins, not Facebook
Trade1 week ago
Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday
Hot Updates1 week ago
The Best Thing to Share with Your Family on Thanksgiving
Featured news1 week ago
Five Strategies for Lowering Your Crypto Taxes