The last eleven months have been nothing short of slaughter for the crypto market including the king, Bitcoin, and not just Cardano (ADA). The standard expression to refer to a market that is going down is “bearish”, as you probably already know, but this time the bears were really hungry and made life really miserable for everybody.
But there is no doubt that the market will recover sooner or later. In the last couple of days, we’ve started to see green numbers pop up here and there. It’s not a market trend yet, of course, but some coins are starting to push forward once more slowly.
According to experts, the market won’t really experience a new bull run until it hits rock bottom. Many of them think that will happen when Bitcoin goes as low as 3k in price. Yes, that low. And what should we make of this? Nothing, really.
Markets go up and down in cycles, and the cryptocurrency market has had at least four bearish runs that have been as bad (if not worse) than the current one. It’s always recovered and more. There’s nothing wrong with Bitcoin, or any other digital asset. It just so happens that as long as the alt-coin exchanges around the world are ruled by speculative pressure, these episodes are unavoidable.
However low Bitcoin could be right now, it remains the gold among digital assets, and it will remain so until some other token takes over its place as the world’s largest by market capitalization and as a base currency in the world’s exchanges. Maybe Bitcoin is down, but it’s definitely not out.
But even in a market as adverse as today’s, those who can read the signs of the times and know what they’re doing can still make a bit of money. No, seriously. Just a few days ago the market saw a bull run on Cardano’s (congrats to those who took advantage) that made it grow quite a bit. It didn’t last, but you can be sure that those who saw it coming made a pretty penny.
And since we are on the subject of Cardano, let’s dig a little deeper.
It may not be the traders and investors darling coin, but in terms of technological and academic prestige, very few blockchain projects can hold their own against Cardano.
It’s considered to be the best third generation blockchain technology. It has a professional developing team behind it, it’s looking to bring innovations to the blockchain seriously, it enjoys an outstanding reputation among the cryptographic academic world, and it has great potential.
You don’t hear a lot about Cardano in the news. There’s a reason for that. The blockchain projects that are actively trying to find case uses for their tokens (and there are not that many of those, most are quite passive in that regard) are trying to gain adoption in Europe, Asia, or North America. Not Cardano.
Cardano is working to get Africa. That’s because the Cardano leadership knows that in Africa, there is a dearth of financial services of all kinds, so it’s the place in the world in which a good cryptocurrency can be adopted the soonest by a large chunk of the population thus becoming real money quickly.
Many observers believe that Cardano (ADA) will go as high as $8.00 or $10.00 in the following thirteen months. That would be huge as it’s trading at $0.0346 as we write this article. So don’t let yourself be blinded by all the news about the most famous coins in the world. Dig deeper, keep an eye on Cardano’s ADA.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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…