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Should you buy more Cardano?
Let’s start with Cardano. Do you hold Cardano? Should you buy more? So much is happening in the crypto world. At the moment, Cardano is a hidden gem, a hidden diamond in the rough. First of all, let’s preface this by saying Cardano did make our top five altcoins in a bear market list. Let’s talk about some of the big things Cardano has going for it in the months ahead:
That was one of the things I pointed out where Cardano really didn’t come into itself and come into fruition in 2021. It was pumped, but mainly because people were just excited about the project. Now its ecosystem is finally getting a chance to grow and shine. So June’s a big month for Cardano with its vassal hard fork:
There’s a lot of exciting stuff on the horizon:
There are a lot of specific things this does, but basically, after this is implemented, you will have new nodes and end users discover nodes without relays. The network becomes entirely organic and self-regulating. So, gossip protocol is something the Cardano holders are looking forward to. And like I said, Cardano can finally directly compete with Ethereum and specifically Ethereum’s ecosystem, which has been blooming for the past few years, and some of the things Cardano said people are excited about DJED. It is coming. We have stable coins like USDC and many others:
It’s definitely big for their ecosystem, big for all of crypto and definitely an interesting thing specifically because Luna, their algorithmic stablecoin, recently failed. Cardano’s trying to do things better, obviously, and then:
In many ways, the best is yet to come with Dapps like we’re familiar with Ethereum launching soon, we have our Cardano project stablecoin ecosystem, we have Cardano Maladex next, Gen, liquid finance, Aada Finance (L+B), Indigo protocol (synthetics). We have BOOK NFTs. I mean, just like Ethereum, we’re going to start to see the ADA ecosystem bloom and Cardano definitely carving out its niche relative to ethereum and relative to the other L1, kind of like Ethereum. It’s really going to be more decentralized and permissionless than Avax or Solana, which are really going for it. You know, let’s have fast, cheap three-throughput.
This isn’t a petty “my crypto is better than yours” tweet. I mean, I am bullish on Solana as well. This occurrence simply reveals the foundation of my ADA investment thesis. Cardano is trustworthy, so tell me if you should buy more ADA. It really depends on your personal situation. I’m certainly bullish on Ada as all this stuff comes to fruition. Let me know in the comments below what you’re doing with Ada.
The Optimism $OP airdrop is live! (HERE is HOW YOU CLAIM)
In other news, optimism is another coin that made our coins in a bear market list that has a lot of things going for it. If you’ve never used or bridged to optimism, which is rather easy to do, you have to check every single one of your eth addresses that might be eligible for this. Maybe you only have one. This is what makes a person eligible, obviously, a user, a DAO voter, a multi-sig signer, and a donor to get coin grants on l1 priced out of ethereum, and it explains them all. If you’ve never used optimism, guess what? When people airdrop you free money, what do you want to do with it? A large portion of people. I’m going to sell this free money and get something I really like, like bitcoin or etherium, and that’s what we’re seeing, so layer 2 bridge clogged with many people opting in to see. If they could claim op tokens as optimism airdrop recipients leave the network, it means there’s been some selling price action and OP 70% is actually down from where it was listed.
First of all, this is very normal when people are airdropped free tokens to have a sell-off. Second of all, if you’re thinking about maybe getting involved with optimism, uh, maybe start watching it closely right now because it is going through a major dip right now.
DOJ Charges Former OpenSea Exec in ‘Insider Trading Scheme’
The DOJ is charging this former OpenSea executive with insider trading. These people are out of here. We don’t want these people on Web 3. The fact is that it was quite easy to catch this person since everything on the blockchain is open.
Kanye West has filed trademarks to launch NFTs around his YEEZUS brand
NFTs are certainly here to stay, though people are getting their ducks in order like Kanye West. Kanye West has filed trademarks to launch NFTs around his YEEZUS brand. Here’s the trademark patent. This is where it mentions blockchain-based currencies and NFTs. He just did this for YEEZUS. Why wouldn’t he do this for his other albums? The point is, Kanye recently, a few months ago, came out and said, “I’m not doing NFTs yet”. But he’s not a fool.” He’s getting his ducks in order.
Bitcoin ETF Canada BUYING!
In other news, take a look. What’s going on in the market? Although the market is down, the Canadian bitcoin ETF has been aggressively accumulating. 13,000 bitcoin in six weeks on this price dip. It is amazing to see this is how a certain level of traditional investors can get involved in bitcoin in Canada and they are buying the dip. They also have an Ethereum ETF. I don’t have the data for that. I wonder if the Ethereum ETF is getting bought and, of course, we don’t have a bitcoin or Ethereum ETF in the United States yet. I’m sure there would be demand for that.
Bitcoin L2 Lightning Network GROWING!
Take a look at this:
While still in its infancy, bitcoin L2 continues to show consistent growth, allowing bitcoin to scale as a medium of exchange. Great to see!
Facebook Goes Full Metaverse
Facebook has not been scared away by the metaverse. Their parent company is called Meta. They are definitely still trending to go full metaverse because they changed their ticker symbol. It used to be FB. Now their ticker symbol is Meta. Their stock ticker has changed.
Binance Labs Closes $500M Web3 Fund For Crypto Startups
Plenty of money still going into crypto as Binance Labs closes a 500 million Web3 fund for crypto startups. The new fund will invest in Web3 companies and incubate early-stage ventures and late-stage growth phases. So there’s still so much creation building and growth to come for cryptocurrencies projects already launched continue to build. Of course, projects that could not stand the test of time, their developers are migrating.
These Five Blockchains Competing Over Terra Developers
Five blockchains competing over Terra developers. What you need to know is that at least five blockchains have extended invitations to Terra developers looking for a new home to come build on their own protocol. Each project has set its own incentives with three of them claiming that Terra Devs have already reached out to migrate over. This comes three weeks after Terra’s algorithmic stablecoin entered a death spiral that ended up wiping out $43 billion from the crypto market.
Which five blockchains are we talking about? We know of each L2 Polygon, alternative L1 Algorand, Injective, Kadena, VeChain, so almost a whole spectrum here of different l ones or different crypto protocols competing for Terra Devs.
[This article is a transcription of a video made by Altcoin Daily]
Original video: https://youtu.be/10pvx3fYihI ]