Crypto Market Falling Over 20%, Why We’re Buying More: Cardano (ADA), Fantom (FTM), Quitriam Finance (QTM)
The crypto market has been falling an average of 15% over the last week. No need to worry, corrections are natural, especially in the crypto market and healthy, as they help markets regulate themselves and adjust some valuations that may be starting to overheat.
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These volatile periods are interesting as they create momentary windows of opportunities for investors wishing to start positions in certain projects at a more attractive valuation.
This article will cover 2 established cryptos that have been falling significantly over the past week and 1 that is currently conducting its presale, and that could be attractive investments!
Cardano (ADA)
Named after 16th-century mathematician and physician Gerolamo Cardano, Cardano (ADA) is known as a “third-generation” blockchain, Bitcoin (BTC) being the first generation and Ethereum (ETH) the second. The project was conceptualised back in 2015 and effectively launched in 2017, making it a fairly recent initiative.
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Cardano’s native currency, ADA, was named after 19th-century mathematician Ada Lovelace, highly regarded within the crypto community as the very first computer programmer in history.
Now, ADA has grown into an industry-leading blue-chip cryptocurrency boasting a $32 billion market and securing a spot in the world’s top 10 largest cryptos. ADA’s total supply is capped at 45 billion tokens, making it an attractive investment as part of an inflation-hedging strategy.
Cardano uses the Proof-of-Stake (PoS) consensus mechanism, which utilises much less energy than the traditional Proof-of-Work (PoW) used by the Bitcoin and Ethereum networks, and that has been heavily criticised for its intensive energy usage. Moreover, using PoS enables the Cardano network to be faster and handle around 250 transactions per second (TPS), while Ethereum handles a meagre 15 TPS.
Moreover, Cardano is currently developing a groundbreaking Layer 2 (L2) solution called Hydra which should be able to handle an astounding 2,000,000 TPS! This development is a major potential game-changer in the crypto industry that could propel Cardano to the status of Bitcoin or Ethereum.
Over the past seven days, ADA is down 20.5%, now trading in the $0.95 range, still, a long way from its $3.10 all-time high reached back in September 2021. ADA’s current price could be a fantastic entry point for investors convinced about Cardano’s long-term value and growth prospects.
Fantom (FTM)
You have certainly heard about this leading project as it attracted a lot of attention through the explosive five-figure performance is generated in the second half of 2021.
Fantom (FTM) is an ultrarapid Layer 1 (L1) blockchain that is compatible with the Ethereum network. Fantom is part of the so-called “Ethereum killers” group, which includes the likes of the aforementioned Cardano (ADA), Polkadot (DOT), Avalanche), Solana (SOL), and others.
Fantom was first conceptualised in 2018 by the Fantom Foundation and its main network, known as OPERA, went live in late 2019. Essentially, the Fantom network enables developers to build and deploy decentralised applications (dApps) and smart contracts on its platform.
The Fantom network resorts to a consensus mechanism called Lachesis which features better speed, scalability, and safety for users than Bitcoin’s consensus mechanism. This makes Fantom much faster and cheaper than its older brothers Bitcoin and Ethereum. Indeed, Fantom is currently able to handle around 10,000 TPS, and the Fantom development team sets the objective for the network to handle up to 300,000 TPS in the coming years.
FTM has already experienced its explosive growth stage and is unlikely to experience a new five-digit bull run again, at least not for the foreseeable future. Nevertheless, FTM is a highly promising alternative coin, whose recent drop in price represents an attractive investment opportunity given the project’s upcoming catalysts.
Quitriam Finance (QTM)
Quitriam Finance (QTM) is a new next-generation Automated Market Maker (AMM) that is currently pre-selling its native token, QTM, at a price of $0.000014.
AMMs are central elements in the world of cryptocurrency, as their role consists in constantly ensuring that decentralised exchanges (DEXs) contain enough liquidity in order to enable smooth trading across the board. Uniswap (UNI) and PancakeSwap (CAKE) are two highly popular AMMs that have garnered a lot of attention over the past years.
Thus, AMMs are commonly linked to decentralised finance, or DeFi, a new style of finance that seeks to supplant financial middlemen (banks, brokerages, insurance companies, etc.) in favour of smart contracts.
Quitriam Finance is therefore holding its presale at this very moment. Presales can be attractive for investors with greater risk tolerance as they provide the opportunity to invest in projects very early on, even before their official market launch. Whilst riskier, this type of investment can generate much higher returns, but rigorous research is required as these projects are yet to make their mark.
On top of a DEX, Quitriam Finance plans to build a decentralised lending protocol where users may deposit assets and receive interest, along with an NFT marketplace, and a native USD stablecoin that will provide users with an in-ecosystem store of value. Similarly, Acranup (ACR) is another project in its presale with comparable initiatives, notably a high-speed DEX called Calyx Swap that will allow users to swap tokens effortlessly across several blockchains.
Two projects off to an interesting start!
Learn more about Quitriam Finance
Website: https://quitriam.io/
Presale: http://presale.quitriam.io/
Learn more about Acranup
Website: https://acranup.io/
Presale: https://presale.acranup.io/login
[Sponsored]
Source: Legit.ng
