The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc.
As we all know, Cardano is one of the most widely used types of cryptocurrency, which is a type of digital currency that can only be used online. Cardano is my favourite crypto coin that was established in 2015 and first traded publicly in Oct 2017. for a few rupees per token. This crypto is now cost more than $1.23 in Jan 2022, after having peaked at more than $3 in the previous 52 weeks. According to CoinMarketCap.com, it is one of the top ten cryptocurrencies in terms of total value.
In a market of more than 10,000 cryptocurrencies, Cardano is one of the most popular. Cardano is the name of the crypto that I select today, and ada is the name of the individual unit.
Cardano was established by Charles Hoskinson, a co-founder of Ethereum, another renowned cryptocurrency, and it uses blockchain technology to run on a decentralised public ledger. Like an unremitting reception, Blockchain administers and monitors the cryptos, documenting and organizing every transaction that happen with it.
This decentralised mechanism validates transactions, checks their integrity, and aids in the overall stability and error-free operation of the system. Cardano (ADA) crypto has a "proof-of-stake" system, in which crypto coin owners are authorize with verifying transactions in exchange for a reward. This "staking" payout can be a lucrative method to make money, and the best crypto brokers allow you to engage in staking for free or at a little fee.
Cardano, like many other crypto coins, can be thought of as a token that can be used to power or enable apps. Sending money is simply one of the features that Cardano and other crypto currencies provide. ADA is available on many crypto exchanges like binance, huobi global, kucoin, FTX, MEXC, Coinbase, Bitfinix, Gate.io and many other exchanges.
Fundamentel Detalis
My favourite coin is ADA, which has a rank of 7. According to the website coinmarketcap.com. ADA has a market dominance of 1.76 percent. It has a marketcapitalization of $30,694,574,096.44.
The coin's fully diluted market capitalization is $41,076,453,399.55. $3.10 dollors is the all-time high of ADA and $0.01735 is the all-time low of this coin. Ada ROI is equal to 4110.79 percent . It has a total supply of 33,626,462,852 ADA in circulation. There are 34,124,387,217 ADA in total supply, with a maximum supply of 45,000,000,000 ADA.
The images below show all of the cardano (ADA) coin's details, further a table below these pictures that i make show its supply, price, all-time-high, all-time-low, and many other details, which were gathered from the Coinmarketcap website.
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🔵 Coinmarketcap Details
| Name | Cardano (ADA) |
|---|---|
| Cardano Price | $0.9217 |
| Market Rank | #7 |
| 24h Low / 24h High | $0.8647 / $0.9466 |
| Volume24h | $1,589,454,010.38 |
| Market Dominance | 1.76% |
| Market Cap | $30,694,574,096.44 |
| Fully Diluted Market | Cap$41,076,453,399.55 |
| 52 Week Low / 52 Week High | $0.82 /$3.10 |
| All Time High | $3.10 Sep 02, 2021 (6 months ago) |
| All Time Low | $0.01735 Oct 01, 2017 (4 years ago) |
| Cardano ROI | 4110.79% |
| Circulating Supply | 33,626,462,852 ADA |
| Total Supply | 34,124,387,217 ADA |
| Max Supply | 45,000,000,000 ADA |
Why are you optimistic on this token today, and how long do you think it can rise?
I am most optimistic about this because its owner Charles Hoskinson is working very hard with his coin and he is bringing new things in it.Recently, a Decentralized Exchange who's name is sundaeswap was launched on cardano ecosystem and cardano is introducing new things on itself after day by day.I am also very optimistic about this because it is the only coin that is in the hands of most retailers. The current increase rate is another reason I am hopeful about this crypto coin. It was just introduced seven years ago, yet it has already risen to become one of the top ten currencies. It was ranked number 7 on coinmarketcap.com at the time of this task of week 1, which is a very excellent thing.cardano is a highly undervalued coin and if his team worked hard on it then according to my thoughts it will be touch 20 dollors in 2024.
How to analyze the token? (using the analysis knowledge learned from professors’ courses) ---important part and Your plan to hold it for a long time or when to sell
In accordance with the requirements of this week's lectures, I'm going to make my real-time spot trade on Binance, with the ADA/BUSD pair as my target. As, Binance is my preferred cryptocurrency exchange, thus I always use it.
On the chart, I used three indicators. First, you can see in the above screenshot that the dots of the parabolic SAR indicator are below the price moving candle, indicating that the price will rise and the market will be in a positive trend. After that, I used the TEMA (triple exponential moving average) indicator that I learned from Professor Fredquantum last week, and you can see that price movement is slightly above the red colour TEMA line, indicating that it is a good time to enter the market and buy this coin because there will be a uptrend in this coin in the near future. After the TEMA confirmation, I confirm with the RSI indicator, which is at 48.52, indicating that the market will continue to rise until it hits the figure of 65 plus.
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So, after seeing all of this, I decided to go for spot trading and buy the ADA token for a long time . As you can see in the above screenshot, I purchased the 16.520 ADA with BUSD stable coin. After purchasing I decided to hold my ADA tokens for a long term. My price target of this coin is 10 dollors and my time target for this coin is december 2024.
Do you recommend everyone to buy? and the reasons for recommending/not recommending.
The market is currently in a correction mode, with many altcoins breaking their support levels, thus we must determine whether to hold or sell our cardano (ADA) currency. I want to keep my ADA for a long time, and I also recommend it to you since I believe the price will rise for a variety of reasons, including the fact that its rank is 7, which is excellent. Another reason for my support of this coin is that the majority of its holders, are small retailers and small investors, like you and me. Furthermore, the coin's proprietor Charles Hoskinson, is well-connected to his community and provides frequent updates.At last, a disclamir is for you please dont take my recommendation to a financial advise, all ideas are my own thoughts.So, whenever you buy this coin please do your own research first.
Anything other users want to share about the token/project.
Cardano's coin is currently at 1 dollor and is projected to continue to rise in the foreseeable future.Finally, Cardano's debut of smart contracts will bolster the cryptocurrency's expanding prominence.It is predicted to gain significant market share as a result of these smart contracts, and as a result, its price will continue to rise for the rest of 2022 and beyond.
Some image desinged and edit by me on Canva and Picsart. Remaining Unsourced Screenshots taken from Tradingview and Coinmarketcapwebsite and the grammer check from grammarly.
SUBMITTED TO DEAR PROFESSOR:
@kouba01 & @fredquantum
SUBMITTED BY :
@malikusman1
THE END 😇