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Low Cost but High Rank – The Secret of Cardano (ADA)

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Cardano
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The value of cryptocurrencies is still struggling with the effects of the major drop that occurred at the beginning of the year. Still, some cryptos are doing better than others, while some have a strange method of staying afloat when everything that we know seems to be indicating that they should not. Cardano (ADA) is especially one of the more interesting cases, which is why we will be taking a closer look at what keeps this crypto so successful.

Cardano (ADA) is among the newer coins, and it was only launched in November 2017. Despite the fact that it is barely older than half a year, this crypto still managed to get into the top 10 coins and is currently holding the rank of 7 on CoinMarketCap. Not only that, but even the Weiss Ratings gave it a decent grade, B, which is their mark for Good, as opposed to A, which is excellent, or C, D, and E, which stand for Fair, Weak, and Very Weak, respectively.

So, how is ADA doing it?

A lot of cryptos with much more history behind them are struggling to survive, while ADA holds the rank of 7, despite the low price. Its current price is around $0.218, while its total market cap is a little over $5.6 billion. The main reason for this is ADA’s daily trading volume, which exceeds $11,545,000 per day.

Obviously, ADA’s trading volume is one of the biggest reasons for this high rank, since the coins are obviously being used, instead of just sitting idly by. The reason for this is the fact that ADA has a lot of coins released into the market.

In fact, ADA’s current coin supply is huge, and reports claim that it is 1.5 times larger than what Bitcoin itself has to offer. This is also the fact why Cardano might someday surpass all the other coins if his value were to increase, which is expected to happen at some point. When it does, ADA will be the largest crypto when it comes to market capitalization.

How can ADA’s value go up?

The thing with ADA is that it is still a very new crypto. It is fully functional, of course, but it is still being developed. The team behind it is currently working on completing its blockchain network, and when they do, Cardano will have much more to offer. The biggest thing that it currently lacks, and is on its way to achieve, are smart contracts, as well as the ability to handle dApps. Once this becomes available, ADA will become much more interesting to a lot of people, which will increase its value.

Cardano’s big plan for Africa

Another important thing about Cardano is its ultimate goal. Like several other cryptos, this currency’s goal is to improve the modern society. Because of this, ADA has put a lot of effort into helping Africa, with most focus on Rwanda and Ethiopia.

Cardano even signed a Memorandum of Understanding with the Ethiopian government, which will allow this crypto to educate, and then hire, new software developers from this country. This will be a big deal for Cardano since Ethiopia will eventually adopt it in their industry of agriculture. This was the first MoU of this type to ever be signed in Africa, and the education of future software developers will start in only a few months, in September of this year.

Apparently, ADA will be the first crypto to actually go big in the African market, and with it being nearly untouched, ADA will have a special opportunity to tap into all of its potentials.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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