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Insecticides (India) Reports Fire Incident at Dahej, India Plant

Posted on September 11, 2023 By TradingView

Insecticides (India) NSE:INSECTICID reported a fire incident at its Dahej plant in Gujarat, India on Sept. 7, according to a Friday filing. The company said there was no loss or injury to human life and there was minimal impact on plant and machinery.

Digital Currency, Forex, News, Stock Market

Yen jumps on Ueda’s remarks; dollar tentative ahead of US inflation print

Posted on September 11, 2023 By TradingView

The yen strengthened on Monday as comments from Bank of Japan (BOJ) Governor Kazuo Ueda stoked hopes that Japan could soon herald a new era away from negative rates, while the dollar was on the back foot ahead of this week’s U.S. inflation reading.The …

Digital Currency, Forex, News, Stock Market

Rwanda Inflation Rate Rises for 1st Time in 5 Months

Posted on September 11, 2023 By TradingView

The annual inflation rate in Rwanda increased for the first time in five months to 17.4% in August 2023, up from 17.3% in July.The main drivers of the overall acceleration in inflation were prices of food & non-alcoholic beverages (30.8% vs 29.2% in Ju…

Digital Currency, Forex, News, Stock Market

Trump Challenges Biden, Murdoch To Mental Acuity Showdown, Doesn’t Spare Wall Street Journal, Fox In Tirade

Posted on September 11, 2023 By TradingView

Former President Donald Trump took to Truth Social on Tuesday, criticizing both the Wall Street Journal and Fox News. In a series of posts, Trump challenged several prominent figures, including President Joe Biden and media mogul Rupert Murdoch, to und…

Digital Currency, Forex, News, Stock Market

Australia’s Syrah Resources rises most in 21 months on $150 mln loan approval

Posted on September 11, 2023 By TradingView

** Shares of Syrah Resources ASX:SYR rise as much as 15.8%to A$0.675, mark their biggest intraday pct gain since Dec 23, 2021 ** Stock at highest level since Aug 15** The battery anode and graphite co says the United States International Development Fi…

Digital Currency, Forex, News, Stock Market

United States Stock Market Index 500

Posted on September 10, 2023September 11, 2023 By OTC/CFD

US stock futures held steady on Monday as investors look ahead to key inflation data this week that could influence the path for US monetary policy. Last week, the Dow fell 0.75%, the S&P 500 dropped 1.29% and the Nasdaq Composite tumbled 1.93%. Those …

Stock Market

The Market’s Compass Crypto Sweet Sixteen Study

Posted on September 10, 2023 By The Market's Compass

Week #102

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Engineering News Record Select Construction Material Prices

Posted on September 7, 2023 By The Market's Compass

Welcome to our Substack Blog that focuses on construction costs. Engineering News Record (ENR) history that can be traced back to 1874. The publication has its roots in two separate publications, Engineer & Surveyor and The Plumber and Sanitary Engineer. The first issue of Engineering News-Record was published on April 5, 1917. On January 1st, 1987, the acronym ENR was adopted as the title of the magazine. The charts that follow use data that are courtesy of ENR magazine that is published 26 times a year. Historical data was pulled from microfiche copies of the magazine obtained from the New York Public Library. ENR magazine is only a small portion of the products offered by Engineer News Record and we recommend readers, particularly those with an interest in engineering and construction, take the time to view the ENR website to learn more at…

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The Market’s Compass Emerging Markets Country ETF Study

Posted on September 5, 2023 By The Market's Compass

Week #455

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The Market’s Compass Crypto Sweet Sixteen Study

Posted on September 3, 2023 By The Market's Compass

Week #101

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Ethereum Execution Layer Specification

Posted on August 29, 2023 By Ethereum Blog

…

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The Market’s Compass US Index and Sector ETF Study

Posted on August 28, 2023 By The Market's Compass

Week #453

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The Market’s Compass Crypto Sweet Sixteen Study

Posted on August 27, 2023 By The Market's Compass

Week #100

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CoinStats Introduces Bitget Integration

Posted on August 24, 2023 By Rosie

At CoinStats, we’re on a mission to streamline your crypto portfolio management. Prioritizing innovation, we’re pleased to announce a new partnership with Bitget, a leading cryptocurrency derivative exchange platform. 

About Bitget 

Bi…

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The Market’s Compass Developed Markets Country ETF Study

Posted on August 21, 2023 By The Market's Compass

Week #451

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The Market’s Compass Crypto Sweet Sixteen Study

Posted on August 20, 2023 By The Market's Compass

Week #99

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CoinStats Wallet Integrates zkSync Era and Base

Posted on August 18, 2023 By Vahe Baghdasaryan

zkSync Era and Base were integrated with the CoinStats Portfolio tracker only a day after their launch. And now it’s high time you have them in your CoinStats Wallet as well!

zkSync Era is a cutting-edge Layer 2 Ethereum scaling solution and the pi…

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Unveiling Base: Coinbase’s Ethereum Layer 2 Revolution

Posted on August 18, 2023 By Rafayel Begoyan

The countdown to a groundbreaking milestone in blockchain technology has begun – the launch of Base Mainnet, Coinbase’s highly anticipated Ethereum Layer 2 (L2) blockchain. After successfully introducing the testnet in February, Base is on the cusp of…

Digital Currency, News

How to Stake AMP

Posted on August 18, 2023 By Vivek Singh

amp staking

The crypto markets have been in turmoil lately since it reached its all-time high in 2021. Due to the bear market of 2022, Bitcoin price is down 70% from its November 2021 all-time high price of $69,000, and crypto investors worldwide have faced massive losses this year. Altcoins are no better, with Cardano (ADA) and Solana (SOL) shedding more than 70% and 55% of their value. Moreover, the crypto market cap is below $1 trillion, down about 55% from $2.2 trillion at the beginning of the year. 

However, if you’re a crypto veteran or have studied the limited but wild history of crypto, you probably know that with max pain in the industry comes an opportunity to bounce back higher.

AMP token is down by over 90% since its all-time high. If you’re among investors whose portfolio is down heavily, you might consider generating passive income by AMP token staking and weathering the storm while waiting for the next bull run rather than selling them at a loss.

The AMP token and staking platform were launched as the brainchild of the Flexa network, one of the leaders in digital-only payments, which claims to be the fastest and “most fraud-proof payments network in the world.” AMP is an open-source digital collateral and asset token that allows instant, efficient, and irreversible collateralization of any type of value transfer.

Read on to learn everything you need to know about the AMP token, how AMP staking works, and where and how to stake the AMP token to make the most of your crypto holdings.

Let’s get right to it! 

Key Takeaways

  • If you’re among investors whose portfolio is down heavily, you might consider generating passive income by AMP token staking and weathering the storm while waiting for the next bull run rather than selling them at a loss.
  • AMP is an open-source digital collateral and asset token that allows instant, efficient, and irreversible collateralization of any type of value transfer.
  • AMP can secure any type of asset users want to transfer, ranging from digital payments, fiat currency, cryptocurrency, loan distributions, and proceeds from actual and virtual property sales.
  • Staking AMP on the Flexa Network via the authorized Flexa Capacity App is the most popular and most straightforward way to generate passive income by AMP token staking.

What Is the AMP Token?

The AMP tokens were created by the Flexa Network, one of the world’s fastest and fraud-proof networks, that enables secure and speedy crypto payments with its Flexa app. AMP is an open-source ERC-20 token used as a collateral token to facilitate the immediate settlement of payment transactions by implementing conditional rights using smart contracts along with a partition scheme. Collateral token partitions can collateralize any account, application, or transaction whose balances can be directly verified on the Ethereum blockchain. Token partitions can be managed separately with AMP token contracts allowing different collateral managers to enforce unique sets of rules that allow for special functions and capabilities. This way, users can stake tokens without any asset transfers to another smart contract, thereby preserving asset custody while increasing the safety of staking collateral.

The AMP collateral partition strategy is designed to facilitate interoperability in staking contracts.

According to the Amp website, AMP can secure any type of asset users want to transfer, ranging from digital payments, fiat currency, cryptocurrency, loan distributions, and proceeds from actual and virtual property sales.

Got AMP?

Make it work for you

AMP Tokenomics

Launched in September 2020, the AMP token total supply is 99 billion, and its circulating supply is 77.05 billion tokens. You can check the AMP token current price and other metrics at AMP Price on CoinStats.

The total staked volume of the AMP token offers a precise metric of the Network’s health; more staked AMP implies fewer tokens are available in the market, boosting the scarcity attribute that can drive the AMP tokens’ value.


What Is Staking?

Blockchains use a consensus mechanism to verify data and transactions on the blockchain network. Proof-of-Work (PoW) and Proof-of-Stake (PoS) are two of the most prevalent consensus mechanism algorithms, each of which works on different principles.

In a Proof-of-Work blockchain, transactions and data are verified using a method called mining, in which miners have to solve complex mathematical problems to verify and process transactions and add them as a new block in the blockchain. The PoW mechanism of verifying transactions on the blockchain is robust and secure but also energy inefficient and causes scalability issues by hindering the number of transactions that can be processed by a blockchain simultaneously.

On the other hand, in a PoS consensus, a participant node is allocated the responsibility of maintaining the public Ledger in proportion to the number of virtual currency tokens it holds. On a Proof-of-Stake blockchain, the right to verify transactions is assigned to users randomly based on the number of tokens they have staked. So, holders of a required number of coins can earn staking rewards and participate in validation, i.e., verify transactions as needed. Participants staking their crypto in a PoS blockchain for an agreed-upon ‘staking period’ to provide value to the Network and earn rewards in return are called validators.

A Proof-of-Stake blockchain is less power-consuming and, therefore, solves scalability issues faced by a Proof-of-Work blockchain. This is why the Ethereum blockchain recently shifted from PoW to PoS consensus mechanism through “The Merge.”

You can learn about staking in detail with our detailed guide, What Is Staking. 

Staking only applies to blockchains that utilize the Proof-of-Stake (PoS) consensus mechanism to validate transactions. Users can stake cryptocurrency tokens on any staking platform of their choice. Most staking platforms are user-friendly and easy to use, so you can start staking on almost all major crypto exchanges, like Coinbase, Binance, etc., without prior experience.

How Does AMP Staking Work?

Amp is designed as a platform for collateralizing asset transfers and staking AMP guarantees any form of value exchange, including digital payments, fiat currency exchange, loans, etc. Once staked to a partition, Amp is ready to collateralize a transfer. With the use of collateral pools, Amp effectively decentralizes the risk of asset transfer, especially for fraud-proof networks and real-world applications.

Staking AMP on the Flexa Network via the authorized Flexa Capacity App is the most popular and most straightforward way to generate passive income by AMP token staking. AMP stakers supply Flexa Network with the collateral to conduct merchant transactions and become a vital component of the Network’s security infrastructure.

Flexa requires each wallet app to have its own collateral pool that will not be limited or closed, enabling you to purchase and stake Amp in any pool.

In return for staking their AMP tokens, users are given out AMP rewards in proportion to their staked AMP tokens. The annual percentage yield (APY) guaranteed by staking is determined by the number of operations in a particular wallet and the amount of AMP staked in that same wallet. Therefore, by providing 10% of the total staked AMP for a particular wallet, you’ll get 10% of the total fees generated on Flexa by the wallet’s users. The more staked AMP users have and the longer they stake them, the higher the return on staking rewards will be. Wallet apps performances contribute to the AMP token value, which contributes to the Network’s value. The staking rewards come from the network fees on the Flexa network and are distributed amongst the AMP holders. 

Now that we’ve provided an answer to the question “how does AMP staking work,” let’s get into a quick guide on where and how to stake AMP tokens to start earning on your crypto.

Fast Fact

The more staked AMP users have and the longer they stake them, the higher the return on staking rewards will be.

How to Stake AMP on Flexa?

As the issuer of the AMP tokens, the Flexa network is the best place to stake AMP through the Flexa Capacity DApp and earn AMP staking rewards. In so doing, you’ll not only earn passive income but also contribute to the Network’s security.

Follow the steps highlighted below to get your AMP staked in no time. 

  • Go to https://app.flexa.network/ and connect your cryptocurrency wallet like MetaMask or another available hardware wallet.
  • Select one of the staking options displayed.
  • Select the app to stake AMP and how many AMP tokens you wish to stake, then click continue.
  • Once the transaction goes through, you’ll see staked AMP balance and the rewards appearing.

Congratulations on staking AMP on Flexa!

You can also easily unstake the AMP tokens through the steps described below. 

  • Connect your wallet and click Move.
  • Choose the number of AMP tokens you want to unstake and click Continue.
  • Wait for your collateral to unstake; timing depends on network conditions.
  • Select Move to Wallet to withdraw the tokens to your wallet, and click Continue.
  • The transaction will go through, and the AMP tokens will be back in your wallet.

How to Stake AMP On Binance?

  Stake AMP On Binance Earn

While staking AMP on Binance won’t contribute to the security and functionality of the Flexa network, it allows AMP holders to earn passive income, especially during a bear market. Moreover, staking on Binance is very easy, and you can also buy AMP coins to stake. Follow the steps described below to stake AMP on Binance. 

Create a Binance Account

If you don’t have a Binance account, then the first step is creating an account on Binance. Binance, like many other cryptocurrency exchanges, offers a hassle-free registration with only an email address or valid mobile number. A link will be sent to your address or mobile phone, and you must click it to verify your account. Once the account is activated, you must create an elaborate password, and you’re good to go.

While Binance doesn’t have mandatory KYC and AML requirements, users must complete the KYC verification process to gain full access and increase higher deposits and withdrawal limits. You must provide personal information and a government-issued identity card to verify your account.

Once your identity verification is complete, it’s recommended to activate two-factor authentication (2FA) for an extra layer of security.

Buy or Deposit AMP Tokens

After setting up your account, the next step is to deposit AMP into your Binance account. You must send AMP coins from your cryptocurrency wallet to your Binance account. On the other hand, if you don’t own AMP tokens, you can easily buy them on Binance using fiat currencies, credit or debit cards, bank transfers, or peer-to-peer transactions.

Stake AMP

Once you have the required amount of AMP tokens in your Binance wallet, you’re all set to start your AMP staking. Go to Binance Earn and search for AMP. Choose among the options depending on the type of staking products, how much you’re willing to stake, and the lock-up period. Enter the amount of AMP you wish to stake, agree to the terms and conditions, and confirm the transaction. You’ll see the staked tokens and the rewards you receive in your Binance Earn wallet.

AMP Staking Benefits

As an AMP token holder, staking can be one of the best ways to earn on your holdings because of the reasons described below:

  • Staking AMP is one of the best ways to receive rewards, especially in a bear market when cryptocurrency prices are down historically.
  • As the number of people staking AMP increases, the Network becomes more secure and processes more transactions. Similarly, the rewards given out from the transaction fees also increase. 
  • As more people stake their tokens and earn AMP rewards, crypto’s real-world adoption will become a reality. 
  • The more AMP tokens are staked, the fewer tokens are in circulation. This would create scarcity and push the price higher, enabling you to earn profits on your investment. 

AMP Staking Downsides

Like with any investment, staking AMP carries the following risks described below:

  • The AMP price has been descending, and since the tokens’ supply is high, the chances of its price rising significantly are low. 
  • To earn significant returns on staking, you must stake large amounts of AMP, which might not be possible for all. 
  • Significant risks are associated with all cryptocurrencies, as they are an extremely volatile asset class, and many aspects of cryptocurrency remain unregulated.

Final Thoughts

AMP is one of the most innovative tokens in the crypto market, aiming to solve scalability and speed issues that have plagued the blockchain industry for a while. When using AMP as collateral, users benefit from the security, transparency, and efficiency of an immutable ledger. Staking AMP allows you to earn passive income on your holdings and contribute to the project’s security and development.

Disclaimer: This article is for educational purposes only, and nothing in this article is a piece of investment or financial advice. Users should do their research before investing in cryptocurrencies, as they are highly volatile and unregulated. 

Digital Currency, News

Allocation Update: Q2 2023

Posted on August 15, 2023 By Ethereum Blog

It’s time to share the list of impressive projects and community events that received funding in Q2! Read all about them below:…

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Engineering News Record Select Construction Material Prices

Posted on August 14, 2023 By The Market's Compass

August 14, 2023

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The Market’s Compass Emerging Markets Country ETF Study

Posted on August 14, 2023 By The Market's Compass

Week #452

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The Market’s Compass Crypto Sweet Sixteen Study

Posted on August 13, 2023 By The Market's Compass

Week #98

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Latest CoinStats Feature: Unbox the Future With Crypto Mystery Box  

Posted on August 10, 2023 By Vahe Baghdasaryan

Hi, CoinStats community!  

We’re excited to share with you our latest feature, the Crypto Mystery Box. 

So, what’s in it for you? Let’s look into it.

Unveiling the Crypto Mystery Box  

Crypto Mystery Box is a uniqu…

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Decentralized Autonomous Organizations: Revolutionizing Crypto Investing

Posted on August 9, 2023 By Nare Navasardyan

Decentralized Autonomous Organizations (DAOs) built with blockchain technology have the potential to reshape traditional financial structures toward greater inclusivity, transparency, and efficiency. DAOs have revolutionized the cryptocurrency space b…

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Will LTC Price Rally After Halving

Posted on August 9, 2023 By Nare Navasardyan

On July 3, the LTC price reached its new 2023 high of $114, rising by nearly  53%, with its market cap crossing $8 billion. The approaching halving event scheduled for August 2023 sparked enthusiasm among investors, hoping it would further boost …

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Devconnect Istanbul Cowork Tickets Are Live!

Posted on August 8, 2023 By Ethereum Blog

Greetings, Ethereum builders and enthusiasts! We’re thrilled to announce that ticket sales for the Devconnect Cowork in Istanbul are now open! 🥳 You can get your tickets here,and also see that our website got a fresh new makeover! 💅 Come back here r…

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The Market’s Compass US Index and Sector ETF Study

Posted on August 7, 2023 By The Market's Compass

Week #450

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The Human Stories of Ethereum – Meet the Next Billion Fellows Cohort 3

Posted on August 7, 2023 By Ethereum Blog

As we look at our world, it seems that individual humans are increasingly on the edges and in the margins of the big stories that play out on our scrolling screens. The narratives that captivate and resonate with ordinary folks seem to exist at a scale…

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The Market’s Compass Crypto Sweet Sixteen Study

Posted on August 6, 2023 By The Market's Compass

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Bitget Copy Trading Guide

Posted on August 3, 2023 By Nare Navasardyan

The cryptocurrency ecosystem is currently experiencing a wave of excitement and optimism following Ripple’s resounding legal victory. On July 13, Ripple scored a big win in its legal battle against the US Securities and Exchange Commission (SEC) after…

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KZG Ceremony Special Contributions

Posted on August 2, 2023 By Ethereum Blog

The Special Contribution Period for the KZG Ceremony ran 01-16 April 2023. This allowed participants to contribute in ways that may not have been possible in the Open Contribution period. While the Ceremony only needs a single honest participant to pr…

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The Market’s Compass Developed Markets Country ETF Study

Posted on July 31, 2023 By The Market's Compass

Week #448

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The Market’s Compass Crypto Sweet Sixteen Study

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24th BNB Burn | Binance Blog

Posted on July 21, 2023 By Binance Blog

BNB Chain has completed its 24th and third quarterly BNB burn in 2023. The burn includes the Auto-Burn as well as the Pioneer Burn Program.

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Binance Turns 6 | Binance Blog

Posted on July 21, 2023 By Binance Blog

As Binance turns 6, it’s a chance to reflect on our journey together, share some stories and look ahead.

Digital Currency, News

South Africa Stock Market (SAALL)

Posted on July 21, 2023September 8, 2023 By OTC/CFD

The JSE All Share index trimmed some early losses to close about 0.6% up at 73,653 on Friday, halting three consecutive sessions of drops, mainly supported by financials (+1.8%). South Africa’s largest retail bank by customer numbers, Capitec, saw its …

Stock Market

Autoliv’s Q2 adjusted profit beats expectations

Posted on July 21, 2023 By TradingView

Sweden’s Autoliv NYSE:ALV, NYSE:ALV, the world’s largest producer of airbags and seatbelts, reported on Friday a rise in second-quarter adjusted profit that was bigger than expected.

Digital Currency, Forex, News, Stock Market

Futures inch up as megacaps recover after sharp decline

Posted on July 21, 2023 By TradingView

U.S. stock index futures crept higher on Friday, setting the Dow on track for its tenth straight day of gains, while megacap growth and technology stocks recovered after sharp losses in the previous session.The blue-chip Dow DJ:DJI outperformed other W…

Digital Currency, Forex, News, Stock Market

Dollar flexes into Fed week, calm returns

Posted on July 21, 2023 By TradingView

A look at the day ahead in U.S. and global markets from Mike DolanAs markets blew the froth off this year’s extraordinary rally in Big Tech stocks on Thursday, the dollar clocked its best day – and likely its best week – for more than two months.After …

Digital Currency, Forex, News, Stock Market

‘Tentative top’ in investors’ dash for cash – BofA

Posted on July 21, 2023 By TradingView

Investors’ rush to the safety of cash, a dominant theme in flow data this year may be peaking, Bank of America global research said on Friday, referencing EPFR data that showed an net outflow from cash in the past two weeks.There was a net $10 billion …

Digital Currency, Forex, News, Stock Market

Market Volatility Rises Following Tesla, Netflix Earnings Reports; Dow Gains For Ninth Session

Posted on July 21, 2023 By TradingView

The S&P 500 closed lower on Thursday, following losses in shares of Tesla Inc NASDAQ:TSLA and Netflix Inc NASDAQ:NFLX. However, the Dow notched gains for the ninth straight session.Shares of Tesla dipped 9.7%, notching its biggest single-session perc…

Digital Currency, Forex, News, Stock Market

Securities Commission Cancels FTX Australia’s License

Posted on July 21, 2023 By Lubomir Tassev

Securities Commission Cancels FTX Australia’s LicenseAustralia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License of Crypto Exchange FTX Subsidiary The Australian Securities and Investments Commission (ASIC) announced […]

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Ethena Raises $6.5 Million to Develop an Ethereum-Based, Banking System Independent Stablecoin

Posted on July 21, 2023 By Sergio Goschenko

Ethena Raises $6.5 Million to Develop an Ethereum-Based Banking System Independent StablecoinEthena, a protocol that seeks to build a banking system independent stablecoin, has announced that it has raised $6.5 million in its seed round. The round, led by Dragonfly, aims to help issue Ethena’s decentralized stablecoin product in Q3 2023, which was inspired by an article written by former Bitmex CEO Arthur Hayes. Stablecoin Protocol […]

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Manila Zoo Entrance Fees and Attractions: Your Ultimate Guide!

Posted on July 21, 2023 By Akiva Shinoda

Enter the wild thrills of the Manila Zoo, where adventure and nature meet peacefully in the center of a busy city. For nature lovers and curious explorers alike, the realm of enchantment and discovery that lies beyond its walls promises a unique experi…

News, Tips and Guides

Central Bank of Argentina Reduces Dollar and Yuan Disbursement to Importers

Posted on July 21, 2023 By Sergio Goschenko

Central Bank of Argentina Reduces Dollar and Yuan Disbursement to ImportersImporters are accusing the Central Bank of Argentina of stalling on the delivery of dollar-based payments under the pretext of high freight costs. According to importers, the Argentine government considers freight costs exceeding 15% of the value of the merchandise imported as an inconsistency. Central Bank of Argentina Delays Dollar Disbursements to Importers The government […]

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BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts Grow

Posted on July 21, 2023 By Kevin Helms

BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts GrowSouth Africa’s top diplomat responsible for BRICS relations has revealed that more than 40 countries are interested in joining the economic bloc. Among them, 22 nations have formally applied for membership. He believes that the BRICS group could expand to include more than 50 countries. BRICS Group Attracts More Than 40 Nations Anil Sooklal, South […]

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JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions

Posted on July 21, 2023 By Kevin Helms

JPMorgan Warns Dollar Dominance Faces Risks from Political Instability, US-China TensionsJPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role in global trade. JPMorgan on De-Dollarization Threat Global investment bank JPMorgan has warned that the dominance of the […]

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Federal Reserve Launches Fednow for Instant Payments — JPMorgan, Wells Fargo, and 33 Banks Onboard

Posted on July 20, 2023 By Kevin Helms

Federal Reserve Launches Fednow for Instant Payments — JPMorgan, Wells Fargo, and 33 Banks OnboardThe Federal Reserve has launched its Fednow Service for instant payments with 35 participating banks and credit unions, as well as 16 service providers. “The Federal Reserve is committed to working with the more than 9,000 banks and credit unions across the country to support the widespread availability of this service for their customers over […]

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Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban

Posted on July 20, 2023 By Jamie Redman

Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset BanIn a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers about potential “risks that may arise” with dealing with crypto assets […]

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‘Historic’ BRICS Summit to Be Held Without Putin in Person

Posted on July 20, 2023 By Lubomir Tassev

‘Historic’ BRICS Summit to Be Held Without Putin in PersonRussian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing that Putin will join the event via video link. Putin to Take Part in BRICS Talks on Enlargement, Currency […]

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Samsung’s 3nm GAA Chip Discovered in Microbt’s Next-Gen Bitcoin Mining Rig

Posted on July 20, 2023 By Jamie Redman

Samsung's 3nm GAA Chip Discovered in Microbt’s Next-Gen Bitcoin Mining RigAccording to reports, the 3-nanometer (nm) Gate-All-Around (GAA) semiconductor from Samsung has been discovered in use after a year since its release. Until now, there were no confirmed applications of the technology. Techinsights found Samsung’s 3nm chip in the Whatsminer M56S++ bitcoin mining rig from Microbt, a bitcoin mining machine that produces an estimated 230 […]

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Ex-Alameda CEO Caroline Ellison’s Google Docs Diary Exposes Struggles Prior to FTX Collapse

Posted on July 20, 2023 By Jamie Redman

Ex-Alameda CEO Caroline Ellison's Google Docs Diary Exposes Struggles Prior to FTX CollapseAccording to the New York Times and several sources familiar with the matter, Caroline Ellison, former CEO of Alameda Research, maintained a diary on Google Documents that provides a brief glimpse into the challenges she faced before the collapse of FTX. Excerpts from the diary suggest Ellison lacked confidence in her role. After her breakup […]

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Engineering News Record Select Construction Material Prices

Posted on July 18, 2023 By The Market's Compass

Welcome to our Substack Blog that focuses on construction costs. Engineering News Record (ENR) history that can be traced back to 1874. The publication has its roots in two separate publications, Engineer & Surveyor and The Plumber and Sanitary Engineer. The first issue of Engineering News-Record was published on April 5, 1917. On January 1st, 1987, the acronym ENR was adopted as the title of the magazine. The charts that follow use data that are courtesy of ENR magazine that is published 26 times a year. Historical data was pulled from microfiche copies of the magazine obtained from the New York Public Library. ENR magazine is only a small portion of the products offered by Engineer News Record and we recommend readers, particularly those with an interest in engineering and construction, take the time to view the ENR website to learn more at…

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SyncSwap Airdrop Guide : How to Earn Free SYNC Tokens

Posted on July 18, 2023 By Rafayel Begoyan

SyncSwap is an efficient decentralized exchange (DEX) on the zkSync Era network, powered by zero-knowledge technology. It provides seamless trading with up to 100x scaling, Ethereum-level security, and lower gas costs. 

SyncSwap announced its …

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How to Stake Ripple (XRP)

Posted on July 18, 2023 By Vivek Singh

The crypto markets are showing signs of entering a bullish phase, marking a significant turnaround after enduring nearly two challenging years characterized by a bearish market, project failures, and exchange collapses. Since the beginning of 2023, th…

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The Market’s Compass US Index and Sector ETF Study

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PSE holds partnership ceremony with MOBILIST

Posted on July 17, 2023 By jggalanido

United Kingdom’s (UK) Foreign Commonwealth and Development Office (FCDO) Director General Jenny Bates and His Majesty’s Ambassador to the Philippines Laure Beaufils joined executives of the Philippine Stock Exchange (PSE) in a closing bell ringing ceremony on Monday, July 17, 2023, to celebrate the partnership between the Exchange and MOBILIST or Mobilising Institutional Capital through Listed Product…

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The Market’s Compass Crypto Sweet Sixteen Study

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EigenLayer Airdrop Guide 2023: Testnet Interactions

Posted on July 14, 2023 By Rosie

EigenLayer is an innovative Ethereum based protocol enabling Ethereum validators and stakers to restake their staked ETH on emerging networks to provide security and earn rewards.

Users staking ETH natively or with a liquid staking token (LST) can …

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XRP Prediction 2023-2030: Latest Development After Lawsuit

Posted on July 14, 2023 By Nare Navasardyan

XRP, the cryptocurrency that powers the XRP Ledger launched by U.S. fintech company Ripple, soars 75% after a U.S. judge ruled on Thursday that Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges.

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5 Best Pinoy Lunch Ulam Ideas This 2023!

Posted on July 14, 2023 By Akiva Shinoda

Hey there, foodies and fellow ulam enthusiasts! Are you ready to take your lunch game to the next level? Get ready to welcome a brand-new world of flavor and adventure.  We’ve looked to the culinary world to offer you the most delectable ula…

News, Tips and Guides

What Is Cardano (ADA): Latest Developments and Price Prediction

Posted on July 14, 2023 By Nare Navasardyan

Cardano Price Prediction

Cardano (ADA) is a decentralized Proof-of-Stake blockchain aiming to become the “Internet of Blockchains” by facilitating seamless interoperability between different blockchain networks.

Referred to as an “Ethereum killer,” Cardano (ADA) was launched as a more sustainable and scalable blockchain than Bitcoin and Ethereum.

ADA is the token that powers the Cardano network and has become one of the fastest-growing blockchain assets in the cryptocurrency market. ADA was named after Augusta Ada King, Countess of Lovelace (1815-1852), the first computer programmer.

Cardano (ADA) experienced a significant drop in early June, triggered by the U.S. Securities and Exchange Commission (SEC), categorizing it as security during its legal actions against Binance and Coinbase.

However, ADA’s price has been witnessing a consistent 1.5% price growth over the past month, indicating the potential for a substantial surge in the near future. With its steady growth and recent consolidation, ADA has rekindled excitement among investors and enthusiasts alike. 

This guide takes a closer look at Cardano (ADA) and its underlying technology, along with the ADA token’s price prediction based on experts’ opinions and the expectations for a breakthrough in ADA’s value.

Read on to decide if ADA coins should be a valuable addition to your investment portfolio and make an informed investment decision that could shape your financial future!

Key Takeaways

  • Cardano (ADA) is a decentralized Proof-of-Stake blockchain launched as a more sustainable and scalable blockchain than Bitcoin and Ethereum
  • Cardano aims to become the “Internet of Blockchains” by facilitating seamless interoperability between different blockchain networks.
  • ADA is the token that powers the Cardano network and has become one of the fastest-growing blockchain assets in the cryptocurrency market.
  • ADA’s price has been witnessing a consistent price growth over the past month, indicating the potential for a substantial surge in the near future.
  • While the recent price decline has raised concerns, Cardano price predictions remain largely positive, with a potential for a trend reversal in 2023, leading to significant growth in market capitalization and price.

What Is Cardano (ADA)?

Charles Hoskinson founded Cardano as a more scalable, interoperable, and sustainable blockchain than Bitcoin and Ethereum. IOHK, a blockchain R&D company founded by Charles Hoskinson and Jeremy Wood; the Cardano Foundation; and Emurgo, a venture capital firm based in Japan, are behind Cardano’s development.

Powered by ADA token, Cardano is an open-source blockchain enabling users to build smart contracts, create decentralized systems and applications, and send and receive funds instantly with minimal fees.

What makes Cardano unique is that its development is based on scholarly academic research and peer-reviewed scientific evidence.

Cardano uses the Ouroboros protocol to ensure the Cardano blockchain’s sustainable scalability without compromising security or energy efficiency. Its Proof-of-Stake algorithm makes it one of the most environmentally friendly blockchain systems in the market.

Also read: How to Buy Cardano | Where, How, and Why

How Does Cardano (ADA) Work?

Cardano (ADA) was designed to address such limitations of existing blockchain networks as scalability, sustainability, and interoperability. 

Cardano’s Ouroboros protocol is a Proof-of-Stake (PoS) consensus algorithm ensuring high transaction speed, advanced features, and a scalable consensus mechanism. Cardano prioritizes sustainability by focusing on environmental friendliness and long-term viability. Its PoS consensus algorithm requires less energy than Proof-of-Work (PoW) algorithms used by networks like Bitcoin.

Cardano is a multi-layer blockchain with two layers developed as a solution to blockchain scalability, privacy, or interoperability issues. It separates the two layers to enhance security, ease updates, and facilitate compatibility with different programming languages.

  • Cardano Settlement Layer (CSL) contains the ledger of validated transactions, accounts, and balances. It handles all transactions with minimal transaction fees using ADA.
  • Cardano Computing Layer (CCL) executes the smart contracts, facilitates the development of DApps, and ensures security.

Cardano uses staking, a process where network participants stake crypto to participate in the blockchain’s operation. Users owning a 2% stake in the Cardano blockchain can choose to mine a block.

The decentralized governance mechanism incorporated by Cardano allows stakeholders to participate in the decision-making process. ADA holders can make proposals and vote on protocol upgrades and improvements.

Cardano (ADA) Milestones

Cardano (ADA) has achieved several significant milestones since its inception. Here are some notable milestones in the development and evolution of Cardano, named after influential historical figures:

  1. Byron Phase: This phase marked the launch of the Cardano mainnet in September 2017, introducing the blockchain and the cryptocurrency ADA to the market. 
  2. Shelley Phase: The Shelley phase, in July 2020, introduced the decentralization of the network by enabling staking and delegation of ADA, allowing users to participate in the PoS consensus and earn rewards.
  3. Goguen Phase: The Goguen phase represents the integration of smart contract functionality into the Cardano blockchain. It allows developers to build and deploy decentralized applications (DApps) and execute smart contracts using Cardano’s native programming language, Plutus. 
  4. Basho Phase: The Basho phase aims to enhance Cardano’s scalability and interoperability. It focuses on improving the network’s performance and throughput, enabling sidechains and off-chain scalability solutions. 
  5. Voltaire Phase: The Voltaire phase is centered around the governance and sustainability of Cardano. It introduces a decentralized governance model, allowing ADA holders to participate in decision-making processes and propose and vote on protocol upgrades. The Voltaire phase aims to ensure the long-term evolution and self-sustainability of the Cardano ecosystem.

In March 2021, with the Mary hard fork, Cardano added native token support, allowing users to create custom tokens directly on the network.

In September 2021, the Alonzo hard fork introduced smart contract capabilities with Plutus, its own smart contract platform. The upgrade allowed developers to build DApps and NFTs and deploy smart contract applications onto the Cardano blockchain.

In September 2022, The Vasil hard fork increased Cardano’s scalability, speed, and DApp development capacity.

In May 2023, Cardano released the new Hydra protocol, functioning as a Layer 2 protocol. Hydra’s ability to scale horizontally enables handling a growing number of transactions and enhances the platform’s transaction throughput and efficiency while maintaining security and decentralization.

Also read: How to Stake Cardano (ADA)

Cardano Price History

Cardano (ADA) has experienced a notable price history since its launch in 2017. Cardano’s lowest price was recorded on Oct 1, 2017, when it was trading at its all-time low of $ 0.017354. Shortly after listing, ADA was listed on several cryptocurrency exchanges, reaching around $1.33 in January 2018 during the peak of the cryptocurrency market bull run.

Following the market-wide correction in early 2018, ADA, like many other cryptocurrencies, experienced a significant price decline. The market entered a consolidation phase, and ADA’s price fluctuated between lower levels throughout 2018 and early 2019.

Cardano’s price started to regain momentum in 2020-2021, during the Bull Market when it was trading at its all-time high of $ 3.10 on Sep. 2, 2021. The announcement and subsequent launch of the Shelley phase, which brought about decentralization through staking, generated positive sentiment and increased interest in ADA. Cardano’s price experienced significant growth during this period, reaching new highs.

However, shortly after this peak, the overall cryptocurrency market experienced a significant correction triggered by various factors, such as regulatory concerns and market speculation. ADA’s price also dipped during this period, reflecting the broader market trend, and ended 2022 at two-year lows of $0.24.

Cardano’s Future Amidst SEC Lawsuit

Since the beginning of 2023, Cardano (ADA) had climbed by over 54%, with Cardano’s total value locked surpassing $170 million, a rise of almost 300% since January 1.

However, ADA suffered a sharp decline in value in the beginning of June when the United States Securities and Exchange Commission (SEC) regarded it as an unregistered security in its lawsuits against Binance and Coinbase. Cardano (ADA) was among the $115 billion worth of coins heavily hit by the SEC’s lawsuit, causing its value to drop over 20% soon after the SEC’s claim.

The lawsuit triggered a 42.5% drop in ADA’s price from $0.37 to a two-year low of $0.21 within a few days.

Aditionally, Cardano faced additional pressure due to delisting on popular trading platforms like Robinhood, eToro, and Revolut.

Despite the turmoil in the crypto market, high-profile analysts have agreed that the SEC’s labeling doesn’t automatically render Cardano a security, instead, the SEC would have to substantiate its claims through a lengthy legal process.  

IOG, the company behind Cardano’s development, has rebuffed the SEC’s accusations, and Hoskinson remains optimistic about Cardano’s future and the crypto industry at large.

If Cardano successfully challenges the delisting decision, it could set a precedent for similar regulatory hurdles concerning other cryptocurrencies.

While negative sentiment and recent challenges such as the SEC lawsuit and delistings from U.S.-based trading apps have negatively impacted the cryptocurrency, Cardano (ADA) is showing resilience and signs of progress. The crypto analytics platform Santiment notes that ADA has been flashing bullish signals, and mild trader capitulation can ignite bounces for ADA: 

“Top cap crypto assets are being traded at a loss after the high profit-taking last week, leading to the price drop we’ve seen. XRP and ADA are seeing a particularly high amount of sells at lower prices, making the chances of bounces increase.”

The token’s technical and on-chain analysis also reveal encouraging indicators for ADA’s positive recovery in the future if the network’s technical aspects continue to develop and are supported by on-chain growth.

Cardano (ADA) Price Predictions

Cardano (ADA) has been generating significant buzz as it approaches a crucial resistance level at $0.2942. The anticipation is palpable, as market participants eagerly analyze every move, hoping to predict ADA’s next trajectory. 

Will the price overcome the resistance and launch into a bullish rally, or will it succumb to the pressure, resulting in a temporary retreat?

The ADA price is mainly affected by the trader’s sentiments and whales in the short term. If buyers show an interest in the token, the price will be greatly affected positively.

In the long term, the ADA price is mainly affected by technological advancements and fundamental analysis. 

Cryptonews Cardano price prediction 2023 expects the token to trade at a maximum of $0.88, and a minimum of $0.36. Based on its Cardano prediction 2025, the token will trade in a range of $0.99 to $1.43, where the former is the potential lowest price, and the latter is the potential highest price for the entire year. By 2030, Cryptonews predicts the ADA price to have reached the maximum price of $4.94, while the minimum price may be around $3.43.

Changelly predicts the minimum value of Cardano to be around $0.5199, the maximum expected ADA price to be around $0.6099, and on average, the trading price might be $0.5399 in 2023. It expects ADA to have a minimum price of $0.67 and a maximum price of $0.85 in 2025. In 2030, ADA is expected to have a maximum value of $5.12 and a minimum value of $4.39.

Wallet Investor has a  bearish outlook and considers Cardano (ADA) a high-risk asset, predicting a significant decline in its value over the next year, potentially leading to a devaluation to 0.0172 USD.

Digital Coin Price expects the ADA price to reach a minimum level of $0.26, and a maximum of $0.62 in 2023. As per their forecast data analysis, the price of ADA will reach a minimum of $0.84., and a maximum of $0.89 in 2025. By 2030, Cardano is expected to reach a minimum of $2.81, and a maximum level of $2.86. 

Final Words

In conclusion, the future price of Cardano (ADA) will be influenced by a combination of market dynamics, technological advancements, and competition within the sector. While the recent price decline has raised concerns, Cardano price predictions remain largely positive. Looking ahead, there is a potential for a trend reversal in 2023, leading to significant growth in market capitalization and price.

It’s crucial to acknowledge the inherent volatility of cryptocurrency markets when considering ADA coin price predictions. The unpredictable nature of these markets makes it challenging to accurately forecast short or long-term price movements. Analysts and algorithm-based forecasters can make incorrect predictions due to the complex and rapidly changing nature of the crypto market.

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Posted on July 7, 2023 By Cointelegraph By William Suberg

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Posted on July 6, 2023 By Cointelegraph By Jesse Coghlan

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Posted on July 6, 2023 By Cointelegraph By Derek Andersen

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1 2 … 318 Next

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$26,560.00
-0.29%
ethereum
Ethereum (ETH)
$1,591.07
0.12%
tether
Tether (USDT)
$1.00
0.03%
binancecoin
BNB (BNB)
$210.60
-0.10%
ripple
XRP (XRP)
$0.51
1.09%
cardano
Cardano (ADA)
$0.243875
-1.71%
solana
Solana (SOL)
$19.33
-1.68%
shiba-inu
Shiba Inu (SHIB)
$0.000007
0.08%
uniswap
Uniswap (UNI)
$4.23
-0.24%

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