Back at the start of November, Ardor (ARDR) was trading for a less than $0.20 a piece. This week, the coin is riding high at $1.70 and looks set to run further into the end of the year. Exactly how far the current run can take it remains to be seen but – if we look at the more traditional metrics – it could be substantially so. Volume over the last twenty-four hours came in at more than $33 million ARDR changing hands, against a market cap of $1.6 billion. This is more than 25 times the average daily volume seen throughout September and November this year.
We think this influx of interest is a sign of strength and one that justifies a trader or investor keeping an eye for any short-term corrections and – in turn – jumping on said corrections as a potential entry opportunity in advance of a long-term return to the overarching upside momentum.
What have we got to support this statement?
Well, for anyone new to this one, Ardor is a blockchain-as-a-service platform that will allow people to utilize the blockchain technology of another cryptocurrency, NXT, through the use of child chains. This seems a bit jargony right off the bat but it’s actually pretty simple. NXT was initially billed as the next big thing and the technology that underpins it (i.e. its blockchain and the protocol built into said chain) is incredibly smart and smooth running. Only a handful of heavy-hitting holders took part in the ICO, however, and this led to some criticism around security issues for anyone that wanted to take advantage of NXT.
When these concerns arose, NEM was born out of the same chain, and has since become incredibly successful. It’s basically the same but with a more even distribution of tokens.
What does this have to do with Ardor?
Ardor is basically NXT 2.0. It’s based on NXT but it leverages child chain technology, meaning users can take advantage of the technology that underpins NXT but they don’t have to expose themselves to the centralized holding nature of the blockchain to which they are linking via side chains.
What all this means, then, is that blockchain as a service (i.e. the concept that NXT was originally set up to spearhead) is a real possibility through Ardor.
The reason that this one is gaining so much attention right now is that there was just a successful hard fork of the NXT chain and, alongside this fork, an airdrop of what’s called IGNIS to holders.
Based on this fork and airdrop, buyers are rushing in to pick up an exposure to the fork and that’s what’s pushing up the price of ARDR at the moment.
So where do things go from here?
The thing to recognize here is that this is just the beginning of what could be an incredible rush of adoption for the technology that underpins Ardor. NXT is brilliant but the original structure (i.e. the concentrated holdings) turned potential developers off to the platform. The ability to harness the power of NXT, however, through the Ardor side chains, means that NXT (and in turn ARDR) is free to grow unrestrained by market concerns surrounding concentration.
And as the platform grows in popularity, so will the value of the coins that underpin it.
Keep in mind that there’s a near-term correction risk, as outlined in the introduction to this piece. There’s likely a bunch of shorter-term operators in the markets right now that are poised to take profits on the run that’s come over the last few days and weeks and – when they sell out – price will likely take a hit.
This dip, however, could be a great opportunity to pick up some cheap coins.
We will be updating our subscribers as soon as we know more. For the latest on ARDR, sign up below!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of Ardor.
Is Bex500 an alternative to BitMEX?
An all around review of Bex500
Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders.
Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.
Bex500 says they are making crypto margin trading “easier” and giving you a better return.
Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange
Question 1. What features does Bex500 have?
Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.
-A fair trade with no overload
Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.
Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…
How Bitcoin Has Changed Online Gaming
We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.
While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.
Bitcoin’s impact on online gaming
The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.
Bitcoin brings security and anonymity
Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…
The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry
Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation.
There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated.
A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified.
Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders.
Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:
The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…