2018 is nearly over, and the crypto market situation is only slightly better these days than it was in the previous months. Most cryptos are seeing their lowest points in the last year, or even longer. With a situation like that, it is of a small surprise that a lot of investors are having an inner debate about whether or not to cut their losses and abandon the space.
While a lot of smaller cryptocurrencies might suffer irreparable damage due to these conditions, some of the bigger hits like Cardano (ADA) are still worth holding onto. Let’s see why Cardano, in particular, is a cryptocurrency still worth HODLing.
Why you should hold on to your ADA coins
Cardano is currently the 11th largest cryptocurrency by market cap, being just above IOTA (MIOTA) and below TRON (TRX), which has recently surpassed it. Its current price is at $0.037356 per coin, and it has a market cap of $968.53 million.
It is the first crypto that has a market cap under $1 billion, although this is something that can easily change at any time. Many often compare Cardano’s marketing strategy to that of TRON, stating that ADA has near-zero fluff, while TRX — and especially its founder, Justin Sun — are often criticized for causing unnecessary hype.
Cardano does not use such methods, as the coin allows its actions to speak. It was created by Charles Hoskinson, who has previously worked on the development of several hit projects, including Ethereum itself. Hoskinson has witnessed the development of multiple coins and has gathered the necessary insight into their flaws.
Because of that, he and his development team took special care while developing Cardano, focusing on quality instead of rushing things. Furthermore, the development team itself consists of professionals and academics, familiar with how a cryptocurrency should operate in the best possible way.
Cardano has also announced several projects which are expected to improve the coin further, such as resolving scalability issues. The main goal here is to provide simple and cheap financial solutions for billions of people around the world, who are considered underbanked. The most promising solution appears to include the introduction of parallel chains and the concept of sharding. If these goals are achieved, Cardano will receive a lot more attention, which will positively impact its price, and potentially make it the representative of the third generation of crypto.
In addition, the coin has appeared on Coinbase’s list of potential listing candidates. If the exchange decides to add ADA to its limited list, it will certainly impact Cardano’s position, as the coin will experience even more usage. Furthermore, ADA is already a tradeable asset on many well-known and trusted platforms, such as HitBTC, UPbit, Huobi, eToro, Bithumb, and it is also expected to arrive at Cryptopia.
It should also be noted that Cardano is a coin with a relatively stable, if low, price. It has experienced less volatility than most cryptocurrencies that are not categorized as stablecoins. One of the reasons for its low price may be its large circulating supply, which currently includes nearly 26 billion coins, as well as its total supply of 31.1 billion units.
For all of these reasons, and more, a lot of experts expect Cardano to be one of the coins that will survive the altcoin apocalypse, both now and in the future. And, when the storm blows over, the remaining coins will find themselves in more favorable conditions, which will allow them to grow and develop properly.
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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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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…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
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