ADA ( The ADA Platform ) is a new cryptocurrency that is built on the Ethereum blockchain. It was introduced on 31st of January 2018. The ADA token is launched as a replacement for the current ERC-20 token for use with the ADA Platform. It’s a decentralised application based on Ethereum, aimed to establish digital identity as a universal right, and to develop a global trust network using a decentralised notary public system.
Re-posting an article from a website called CoinMarketCap.com titled “Litecoin Price Prediction. World’s 7th Largest Cryptocurrency by Market Capitalization – Litecoin Price, News, Chart, Buy, Exchanges and User Reviews”
On the 28th of May, the Augur dApp was launched and began the Initial Coin Offering (ICO). It was the first ICO to be held on the Ethereum network and the biggest crowdsale to date. Augur is a decentralised prediction market that facilitates the buying and selling of future event outcomes for a wide range of potential outcomes. It uses the wisdom of the crowd to determine the likelihood of events happening on its platform. The result is a prediction market that allows buyers and sellers to trade on the outcome of events.. Read more about cryptocurrency in india and let us know what you think.ADA has risen from $0.1774 to $1.701 in five months and has also reached an all-time high of $2.3 in that time. While we are still recovering from the recent plunge in the third week of May, there is so much going on with ADA that is unusual and unique compared to other cryptocurrencies. The fix from a few weeks ago gave us an idea of how strong the Cardano community is, and the channel analysis proves that ADA adoption will only grow. Cardano’s distribution is even more impressive, with only 1.5% of whales with 518 million ADA, while traders and investors account for 98.5% with over 30 billion ADA. Intra-chain metrics also tell us that there are more cruisers than holders, which is not surprising given that the Cardano community has only started to develop in the last 10-12 months. Although the community is growing, the price of the Cardano token has a negative correlation with BTC. It may not be inversely proportional, but ADA does not fall like others when the value of bitcoin falls significantly. When Cardano reached its all-time high on May 18, the correlation with BTC was 0.44. It now stands at 0.33, which is still low given the 30-day high of 0.7 on the 6th. Could be considered. Cardano also has a growing number of investors and is priced significantly higher than bitcoin. The addresses with low activity are more for ADA, and the number of investors is 124, which is much higher than bitcoin. If we use Ethereum as a comparison, it would beat Cardano in terms of ownership and investor concentration. The current concentration of whales is 15.83% and there are six whales against one in the Cardano ecosystem. This is yet another reason to support the power of community and the power of wider distribution of tokens. Current cryptocurrency market conditions mean that most Cardano users are profitable compared to Ethereum and Bitcoin, with 93% of ADA holders in profit or break even, and only 6.5% making a loss. Bitcoin has a larger number of holders, almost 20%, and has over 7.8 million addresses. All this data on the blockchain helps us understand how reliable the Cardano token has been recently, and to support future trends. She is currently recovering at an incredible rate. Given the volatility seen over the past six months, it is safe to say that Cardano could extend the current trend, leading to further volatility spikes. For now, there is no difference between bears and bulls, so we can expect this to change in the coming weeks. While the analysis on the channel has proven the strength and resilience of the new investors in the community, we still need to stay and watch how the company will integrate smart contracts. Once Goguen is fully functional, we could see a very different picture for Cardano and its future. We are currently betting on high volatility and hope it will reach its previous ATH in the coming weeks. Kartikeya Gutta, born and raised in India, is a cryptocurrency journalist and freelance writer for the website itsBlockchain. It covers various aspects of the industry through in-depth analysis and research. His passion for blockchain and the crypto-ecosystem is largely because he believes it can truly change the world and help millions of people.
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Sign up to be notified of the latest posts.ADA is one of the most promising cryptocurrencies to emerge in 2018, and it’s still going strong. The project was created by an anonymous founder and developer named The Dark Overlord (TO.A), who was also behind the now-defunct cryptocurrency project Unobtanium (UNO). Being one of the top ranked cryptocurrencies in the world, it is currently one of the most popular digital assets.. Read more about cryptocurrency price and let us know what you think.
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