The crypto market has been under a huge bearish pressure since last December and not just Cardano (ADA), but every asset has felt it. Yes, there have been some fluctuations along the year for some particular coins but they’ve turned out to be utterly irrelevant in terms of promoting a market recovery, and almost all digital assets have been going down for months now. Cardano has not been the exception, but things seem to be changing as we write this.
A technical market analysis of Cardano’s ADA’s current signal line, along with the project’s recent news and achievements, seems to be revealing the signs of an upcoming bullish run that could see ADA go against the market’s recent trend and take off spectacularly in this last financial quarter.
As we write this, Cardano is trading in green numbers with a 4.26% increase over the last day. This means ADA is among the most profitable coins right now, it’s doing even better than Bitcoin (at 1.29%) or XRP (3.97%) which recently became the world’s second cryptocurrency by market capitalization.
Most of the trade volume driving ADA’s rise comes from South Korea. And this is no surprise since most of the bullish runs that happen in the cryptosphere start in South Korea, precisely, because many crypto aficionados live there, and are very keen to get into the action early.
But in this case, this is not the only factor. Cardano has achieved a bigger presence in Korea than most other coins, and it seems that’s what could be driving the current increase in price. Let’s study today’s situation in some detail.
Cardano’s roadmap announced a partnership with Metaps Plus which is a big player in the South Korean telecom market. The partnership is confirmed and it’s scheduled to go live next month already. What this will do for Cardano is nothing short of spectacular.
Both companies will create a prepaid plastic card that will allow users to use their ADA coins to pay for goods and services inside Korea. Citizens in that country will be able to pay using ADA in 33,000 stores.
This is not such an innovative idea. Ripple already has a debit card that can be funded with XRP. Stellar is also pursuing that goal by partnering-up with Europe’s biggest remittance service. Litecoin even bought a bank in Germany precisely so they could find a way to issue a plastic card based on its asset.
But there is a very important difference between Cardano’s achievement and everybody else’s. Cardano managed to get the South Korean market for crypto debit cards before anybody else. This is a huge deal because it’s one of the countries in the world with the most enthusiasm about digital assets which means that a lot more people understand the crypto market, are confident to use crypto-coins, and are willing to actually acquire a debit card that runs on the blockchain. This is not something you can say about France or Germany.
Cardano’s new partnership will create a higher demand for ADA because it will become a useful coin that you can really spend in any street in Korea. Cardano is already considered the market leader when it comes to blockchain 3.0 technology, and this new development is a huge hit because it will turn ADA into real money, at least in Korea for now.
This is the time to keep an eye on ADA. And, if you’ve done your research, it could be a good opportunity to buy Cardano while it’s still cheap (0.086 USD per token as we write this). As always, do not invest in any cryptocurrency more than what you can afford to lose though.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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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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
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…