Cardano is a very peculiar blockchain project. It lacks the hype of Bitcoin, Tron or Ripple, just to name a few but it’s managed to acquire an unmatched reputation for quality, transparency, and seriousness.
One of the differences between Cardano and every other cryptocurrency is the emphasis it puts into following scientific principles and peer-reviewed research.
They keep to those principles by working closely with many cryptography researchers in the academic sector and by making sure that they do not privilege sheer marketing as its chief strategy, but academic announcements and publications that guarantee the project’s reliability and innovation.
That all has made Cardano’s researches ambassadors of sorts from the cryptosphere to the academic world which, in turn, has given reason to many academics to pay more attention to the cryptocurrency market and take it as an earnest endeavor.
That difference in core values has practical consequences. The Cardano community never rushes. Nothing is launched or released until it’s been thoroughly tested and known to work correctly. That’s how Cardano has managed to build an unparalleled reputation for reliability. There’s never been a major scandal or controversy involving Cardano, which is very rare in the cryptocurrency market.
It’s also important to know that Cardano is not all about the project’s currency (called ADA) but it’s a full decentralized operating system designed to run financial and decentralized apps.
While this is not unique (that’s the case of Tron, or EOS, for instance), the project has shown its scientific credentials by designing a blockchain from scratch. Its very innovative “Proof of stake” consensus protocol could be nothing short of revolutionary if it’s implemented successfully and many observers in both the academic and crypto market fields are waiting eagerly to find out if it will deliver on its promises.
So if Cardano is such an exciting project, why is ADA not performing that well? Because the bear came to visit the crypto world las January and it hasn’t left. Every digital asset has had a hard time all year long, and Cardano hasn’t been the exception.
It reached its peak level last January (1.30 USD, fifth largest coin by marketing capitalization). Since then it’s been going down, and it currently trades at around 0.12985 USD (which brought it down to the eight place by market cap). This is apparently a considerable drop. But it’s also a great opportunity.
Metaps Plus is a huge mobile payments platform based in Korea. They recently announced they would include ADA as a means for payment.
This new partnership is crucial because it shows the credibility Cardano has managed to build outside the cryptosphere and because South Korea is one of the world’s most essential and enthusiastic countries when it comes to digital assets.
And this is just one such partnership; there is no reason to believe that many others are not on the way but, as stated before, this is an organization that takes its time to do things.
Despite the coin’s performance, neutral observers and experts are very confident in this project. Some predictions are as high as 10.00 USD per token, but they seem a little hyped and the arguments they give are not always very persuasive.
That being said, a new bullish run will come to the market sooner or later. Taking into account that ADA was as high as 1.30 only a few months ago, when this happens, the token will appreciate for sure and based on previous bullish runs it would be entirely reasonable to expect it to reach 2.50 USD.
So this is a time of opportunity if you like Cardano. At thirteen cents you could make a twentyfold profit when the prices start picking up again. It is a risk, of course, but if you know the project, the markets and you do your homework before you jump in, then Cardano’s ADA is one of the best opportunities in the current market precisely because it’s so incredibly cheap right now.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Maxpixel.net
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…