🚨ATTENTION Cardano Holders🚨 (Huge ADA Ecosystem Boost TODAY!)

Posted 1 min ago | by Catoshi Nakamoto

After years of waiting, we are finally seeing the first major DEX launch on Cardano and the market has been reacting in a very strong way. The price of ADA has been rallying this week as the rest of the market has been struggling. Cardano’s day is finally here and that day is…Sunday….SWAP.

Read More

Lets get it!

Welcome to BitBoy Crypto. My name is Ben and my mission is to help you find financial freedom through crypto assets. Click that subscribe button and don’t forget to hit that bell while you’re at it so you get updated on the content we make every single day.

For the past few months, the price of ADA has been taking a breather, ranging between a dollar twenty and a dollar fifty. Some investors were getting impatient and we started seeing a ton of comments about how Cardano was dead, but this couldn’t have been further from the truth. The Cardano ecosystem was just getting started and now we are starting to see activity on the network heating up. In recent weeks, the level of activity on Cardano has been exploding, and at one point even temporarily surpassed activity on Ethereum.

According to data from Messari, Cardano’s transaction volume surpassed Ethereum by nearly $2 billion on January 6th. For that day, Cardano saw $7 billion in transaction volume while about $5.4 billion in transactions passed through the Ethereum network. For those transactions, Cardano generated less than 100K in fees, while fees on Ethereum were over $40 million. We have actually seen something similar play out on Polygon, Ethereum’s most popular scaling solution, which now has more active users than the Ethereum mainnet. Newcomers see the exciting opportunities available with blockchain technology and they want to get involved, but they are usually priced out of the Ethereum mainnet. There are a lot of these people coming into the space, and they are going to end up using the networks with low fees and high transaction speeds because those will be the only chains that they have access to. Maybe that’s why the ADAGANG showed up in full force last week when Vitalik Buterin posted a poll on his Twitter page, asking his followers which currency they would prefer to have their savings in over the next decade. Cardano won the poll by a decent margain with 42% of the votes, and Bitcoin was lagging behind in the number two position with 38.4%. It is very impressive to see the ADAGANG coming in stronger than Bitcoin, considering that BTC would be the default option for most people, because it’s the oldest and most established. This really shows the power of the Cardano community.

This week, one of the biggest stories in the Cardano ecosystem has been the launch of SundaeSwap, the network’s first major DEX. The platform is expected to launch in beta on Thursday January 20th. Surprisingly, they aren’t launching on Sunday. It seems like a missed opportunity to me, but I’m sure they had other things to consider.

offering rewards to early participants, including liquidity providers, and users who decide to delegate their ADA to the ISO.

ISO stands for initial stake offering, and it is a unique funding mechanism used by Cardano, that is similar to an ICO or an IDO. Users will be able to receive SUNDAE tokens in exchange for delegating their ADA to the ISO, but there will also be opportunities to yield farm on the platform and earn SUNDAE tokens that way as well.

If you want to participate in the ISO, you’ll need to make sure that you have your ADA staked in one of the appropriate pools by January 25th, when the first snapshot will be taken. If you miss the snapshot, you’ll still be able to earn Sundae tokens through yield farming over the next 6 months. Yield farming will begin on the platform as soon as it goes live on January 20th.

One thing that you need to be aware about when you decide to delegate to a stake pool, is whether or not the pool actually has room for you. If a stake pool becomes saturated, you should look for another one because your earnings will be lower if you are staked in a saturated pool, and you’ll also be reducing the rewards for everyone else in the pool too. There should be plenty of room for everyone to get in because there are many different pools available, so make sure to pick one that has room so you can earn as much as possible.

Early users have been warned that this is a beta launch, so all of the features won’t be available yet and the network may be a bit slow as it becomes operational and onboards more users, but this is expected in the very early stages of the rollout. Out of all the decentralized exchanges launching on Cardano, Sundaeswap seems to have been getting the most funding, promotion and development support. It will not be the only DEX, but it is looking like it will probably be the most popular on the network. Think about the previous performance of other top DEXES like Uniswap or Pancakeswap, they all experienced incredible growth in value after they launched.

NFTs are picking up steam on Cardano as well, and they have also been seeing incredible growth. NFTs are a great fit for Cardano because NFTs are driven by communities, and Cardano has one of the most powerful communities in crypto.

New NFT projects are launching every day on Cardano, but this week the big story was the launch of Pavia, Cardano’s first active metaverse. Over 60% of the land has already sold, in two different minting events that sold out almost instantly. The next land sale is expected to come sometime in the next few months. There are currently over 8,300 plot land owners in the Pavia metaverse.

This virtual world will also have its own native token that will act as an in-game currency, and the token will initially be airdropped to land holders. Speaking of airdrops, now that we are starting to see exchanges, applications and games roll out on Cardano, you can expect that this ecosystem is going to be exploding with airdrops. Many of these new applications that are going live will want to have centralized governance, or they are just going to want to drive value to their projects through a token. Airdrops have also become a very popular way to bootstrap communities and create hype about new applications, so there is a good chance that many teams will decide to use this method to distribute their token.

But that’s all I got. Be blessed. Bitboy out.

Source: https://thebittimes.com/attention-cardano-holders-huge-ada-ecosystem-boost-today-tbt10312.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam

Category: Cryptocurrency News

Post by: TheBitTimes.com