Decentralized exchanges based on automated market makers (AMM) have become the standard and the most convenient way to exchange crypto tokens.&nbsp;The majority of these DEX’s were built on top of account-based blockchains like Ethereum, of which the flagship is Uniswap. Cardano’s eUTxO model brings exciting benefits that address some of the shortcomings of DEXes on other blockchains with consistent fees and formally verified deterministic behavior.&nbsp;WingRiders is a decentralized exchange ecosystem based on AMM that builds on top of the solid foundations of the Cardano network. Our goal is to create a trusted platform that enables users to exchange native Cardano tokens in a truly decentralized fashion with no intermediaries or single points of failure.&nbsp;We aimed at a modular approach to support as many wallets and other decentralized applications as possible. Our target is to become an infrastructure solution that enables and augments other projects as well.

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WingRiders

<div>Cardano (ADA) has seen a massive uptick in its active wallet addresses which hit a one-year peak of over 600,000 in the last 30 days.
The data <a href="https://danogo.io/active-wallet-report" target="_blank">presented</a> by Danogo, a Decentralized Exchange (DEX) on Cardano, shows that the actual active wallets come in at 606,000, up by 533,000 wallets recorded at the start of March.
While the active wallet growth on Cardano did not follow a straight path over the year, it has seen considerable growth since last September when the metric recorded its one-year low of 297,268. 
<blockquote>
🚀Cardano hits one-year peak with almost 600K active wallets in the last 30 days, twice the lowest number within this timeframe. 💡 How high do you think it can climb from here?<a target="_blank" href="https://t.co/JUAmB8i61s">https://t.co/JUAmB8i61s</a> –Danogo – Keep Going– 🚀 <a target="_blank" href="https://t.co/AjO1clEObg">pic.twitter.com/AjO1clEObg</a>
— Danogo (@danogo_2023) <a target="_blank" href="https://twitter.com/danogo_2023/status/1767732876072927285?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote>
<h2>The Cardano User Growth Track</h2>
The Danogo data revealed that active Cardano addresses over the past seven days come in at 212,000, with the daily active addresses as of March 12 sitting at 44,100.
The Danogo data also shed more light on the active wallet addresses of the decentralized applications (dApps)  on the blockchain. 
Notably, Indigo Protocol <a target="_blank" href="https://thecryptobasic.com/2023/10/30/cardano-based-cdp-protocol-indigo-now-top-15-in-terms-of-tvl/">remains</a> the dominant DApp on Cardano in terms of total value locked (TVL) with up to $167 million in TVL. Despite this position, Indigo Protocol contributes far less in terms of active wallets when compared with Minswap.- Advertisement -
While the 30-day active wallet count on Indigo Protocol comes in at 1,794, Minswap boasts 30,677. Wingriders, another top-ranked Cardano DEX, also recorded an Active Wallet count of 7,398 over the past 30 days.
<h2>Cardano Active Address and Price Catalyst</h2>
The uptick in active Cardano addresses comes at a time when the price of ADA, the network’s native coin, is recording impressive growth. 
Per an earlier <a href="https://thecryptobasic.com/2024/03/08/cardano-active-addresses-spike-to-76000-as-price-looks-to-break-0-80/" target="_blank">report</a> by The Crypto Basic, the number of daily active addresses on Cardano soared to a new yearly high of 76,445 on March 6, coinciding with the push to breach the $0.8 resistance.
Cardano, through Input-Output Global (IOG), is also making moves to <a href="https://thecryptobasic.com/2024/02/29/cardano-founder-canvasses-for-vote-to-integrate-cardano-on-brave/" target="_blank">introduce new partnerships</a>, products, and services that can help sustain the adoption momentum.
<div>Follow Us on <a href="https://twitter.com/thecryptobasic" target="_blank">Twitter</a> and <a href="https://www.facebook.com/thecryptobasic/" target="_blank">Facebook.</a>
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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TheCryptoBasic

Cardano Hits Major Network Milestone as Bull Rally Stirs Adoption

Exciting news is on the horizon for crypto enthusiasts and investors alike as TheADA gears up for its Initial DEX Offering (IDO) on WingRiders. This event promises to be a pivotal moment in TheADA’s journey, offering participants an opportunity to engage with a groundbreaking project built on the Cardano blockchain. Let’s delve into the details of TheADA’s IDO and what it means for the crypto community.<h1 style="margin-left:0px;">TheADA IDO on WingRiders: Key Details</h1>TheADA’s IDO on Wingriders is set to unfold with a meticulously planned timeline, ensuring a smooth and inclusive experience for all participants. Here’s a breakdown of the essential details:<ul><li>WRT Tier Timeline:</li><li>Deposit 1000 WRT in the vault by epoch end (24.02): The process kicks off with participants depositing 1000 WRT in the vault by the epoch end on February 24th, marking the first step towards securing a spot in the WRT tier.</li><li>Register for the WRT tier in UI until Sunday 25.02 6 pm CET: Following the deposit, participants must register for the WRT tier in the UI by Sunday, February 25th, 6 pm CET, to formalize their participation.</li><li>WRT tier tokens airdrop to wallets between 25.02 6 pm CET — 26.02 1 pm CET: The anticipation builds as WRT tier tokens are airdropped to participants’ wallets between February 25th, 6 pm CET, and February 26th, 1 pm CET.</li><li>Launchpad WRT tier starts 26.02 1 pm CET: The excitement peaks as the launchpad for the WRT tier officially begins on February 26th, 1 pm CET, marking the commencement of TheADA’s IDO journey.</li><li>Launchpad regular tier start 26.02 3 pm CET: Shortly after, the launchpad for the regular tier opens its doors on February 26th, 3 pm CET, providing broader accessibility to participants eager to join TheADA’s ecosystem.</li></ul><h1 style="margin-left:0px;">How to Participate</h1>For those keen to participate in TheADA’s IDO on WingRiders, the process is straightforward. Simply follow the link provided below to access the launchpad and embark on this exciting journey:<a href="https://app.wingriders.com/launchpad/cd4970e2c90cc39328f66a7b5f86c76ecb67a5bafa1a3da6fbea8cd3381699d7%230">Participate in TheADA’s IDO on Wingriders</a><h1 style="margin-left:0px;">Conclusion</h1>TheADA’s IDO on WingRiders represents a significant milestone in its roadmap, offering a platform for investors and enthusiasts to engage with a pioneering project in the Cardano ecosystem. With a carefully curated timeline and inclusive participation model, TheADA is poised to make waves in the world of decentralized finance (DeFi) and NFTs.As the crypto community eagerly awaits the unfolding of events, the stage is set for TheADA to showcase its potential and redefine the landscape of decentralized applications on Cardano. Stay tuned for more updates and get ready to be part of TheADA’s transformative journey on Wingriders.<h1 style="margin-left:0px;">About TheADA</h1>TheADA is a decentralized and scalable NFT staking protocol built on the Cardano blockchain. With its innovative approach to NFT staking and ecosystem development, TheADA aims to empower users and foster growth within the Cardano community.For more information, visit <a href="https://theada.pro/">TheADA Official Website</a>.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.

Cardano Feed

TheADA Set for Exciting IDO on WingRiders: Here’s What You Need to Know

The moment we've all been waiting for has arrived! The official launch of TheADA's Initial DEX Offering (IDO) on Wingriders is now live, welcoming participants from across the crypto community to join in the excitement and embark on a journey toward the future of decentralized finance (DeFi). 🥳To access the IDO, simply navigate to the App section and locate the Launchpad, or click on the following link: <a href="https://app.wingriders.com/launchpad/cd4970e2c90cc39328f66a7b5f86c76ecb67a5bafa1a3da6fbea8cd3381699d7%230">TheADA IDO on Wingriders</a>.As you prepare to take part in this groundbreaking event, here are some key points to keep in mind:<h3>Do Your Own Research (DYOR)</h3>Before committing to any investment, it's essential to conduct thorough research on TheADA token and its associated project. Understanding the fundamentals and potential of the project will empower you to make informed decisions and navigate the crypto landscape with confidence.<h3>Learn More About TheADA</h3>For detailed insights into TheADA project and its vision for the future, be sure to visit their official Twitter account<a href="https://twitter.com/TheADAPro">&nbsp;@TheADAPro</a>. Here, you'll find valuable information, updates, and engaging content that sheds light on TheADA's mission to revolutionize the world of decentralized finance.<h3>Key Information on the Launchpad</h3>Navigate to the token launch page within the Wingriders Launchpad to access essential details and updates regarding TheADA IDO. Stay informed about important milestones, allocation details, and any additional information that may impact your participation in the IDO.<h3>Commit and De-Commit Flexibility</h3>Participants have the flexibility to commit and de-commit funds throughout the duration of the IDO. However, it's crucial to remain vigilant, especially if the launch is nearing its upper threshold. Be mindful of any cutoff times and ensure that your actions align with your investment strategy.As we embark on this exhilarating journey together, let's seize the opportunity to be part of something truly transformative. Join us in shaping the future of decentralized finance with TheADA IDO on Wingriders!Twitter: <a href="https://twitter.com/TheADAPro">@TheADAPro</a> Site: <a href="https://theada.pro/">https://theada.pro/</a> IDO Launchpad: <a href="https://app.wingriders.com/launchpad/cd4970e2c90cc39328f66a7b5f86c76ecb67a5bafa1a3da6fbea8cd3381699d7%230">On Wingriders</a>

TheADA IDO on Wingriders: Your Gateway to the Future of DeFi

The NEWM token powers the NEWM platform and ecosystem, a pioneering initiative on the Cardano blockchain aimed at transforming the music industry by fostering direct connections between music creators and consumers within a decentralized marketplace. Leveraging blockchain technology, NEWM offers an alternative to traditional music platforms by ensuring artists receive fair compensation and retain ownership rights, ultimately democratizing music distribution and consumption. This article will delve into NEWM, exploring its tokenomics, liquidity, utility, and more, providing a comprehensive overview of its impact on the music industry and its participants.<h2 style="margin-left:0px;">NEWM Distribution &amp; Tokenomics</h2><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*fgsfD1e7jCaVVGef9jvlDg.png" alt="" loading="lazy"><a href="https://www.taptools.io/charts/token?distribution=&amp;pairID=0be55d262b29f564998ff81efe21bdc0022621c12f15af08d0f2ddb1.9f692349af450e68e02abb291e3bcabe42251029498dd0482d8b6b0a740a40d8">NEWM Distribution Pro page on TapTools</a>NEWM has a maximum supply of 9.74 billion tokens. Currently 1.52 billion of these are in circulation, equivalent to 15.6% of the tokens supply. At 0.0129 ADA per token, this gives NEWM a market cap of $11,742,758, and a fully diluted market cap of $75,412,167, placing it at #21 in the Top 50 on TapTools.Currently, there are 23,685 NEWM holders, down 0.94% over the last 30 days, holding steady and with not much of an increase or decline. NEWM has a Median Holder Balance of 11.67 NEWM equivalent to 0.15 ADA, and an Average Holder Age of 526.15 days, highlighting the strong community that has been supporting the project as it develops.<h2 style="margin-left:0px;">Liquidity</h2><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*-o3I3ibR7zZXxlT7OqCFmA.png" alt="" loading="lazy"><a href="https://www.taptools.io/charts/token?liquidity=&amp;pairID=0be55d262b29f564998ff81efe21bdc0022621c12f15af08d0f2ddb1.9f692349af450e68e02abb291e3bcabe42251029498dd0482d8b6b0a740a40d8">NEWM Liquidity Pro page on TapTools</a>NEWM currently has 374.15K ADA in liquidity across seven Decentralized Exchanges on the Cardano blockchain. The token appears to have a good distribution between the top 3 most liquid DEXs with Minswap holding 49.41% of the liquidity, VyFinance coming in second with 22.69%, and finally, WingRiders which holds 22.24% of the token’s total liquidity.<h2 style="margin-left:0px;">Volume</h2><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*PSp-Vg_KGJ3GlxCGaz_dTA.png" alt="" loading="lazy"><a href="https://www.taptools.io/charts/token?volume+profiler=&amp;pairID=0be55d262b29f564998ff81efe21bdc0022621c12f15af08d0f2ddb1.9f692349af450e68e02abb291e3bcabe42251029498dd0482d8b6b0a740a40d8">NEWM Volume Profiler Pro page on TapTools</a>There have been 40,048 NEWM trades amounting to a lifetime trading volume of 23.81 million ADA, equivalent to 1.43 billion NEWM. 11.88 million ADA of this was buy volume while 11.92 million ADA was sell volume. The leading wallet size in trading volume was the swordfish wallet size (25–100KA), followed by the fish wallet size (5–25K ADA). The wallet size that has contributed the least to trading volume is the whale wallet size (1M ADA+).<h2 style="margin-left:0px;">Utility</h2>We will now delve into the various utilities that NEWM offers its holders.GovernanceHolders of the NEWM token have the ability to engage in decentralized governance to determine the future of the platform.In-App UsageAll functions on the app can be paid in NEWM token. NEWM tokens can be locked to access different tiers that benefit users such as special content or early access to music IP right sales. Musicians and artists can gain access to additional platform features by locking their tokens.StakingThe NEWM staking system will allow staking for different purposes such as an independent artist fund, to help artists launch their first projects. The NEWM community can also stake with the NEWM governance stake pool to earn further rewards.Royalty SharingPlatform users may have the opportunity to stake their tokens with different musicians to help them get a better playlist ranking. This would enable artists to share royalties with their stakes from the increased exposure.<h1 style="margin-left:0px;">Conclusion</h1>This article has provided a comprehensive overview of the NEWM token and its integration within the NEWM platform. Through an examination of its distribution, liquidity, and the utility it offers, such as governance and staking, we’ve explored its foundational role in the platform’s ecosystem. It will be interesting to see how NEWM and the decentralized music industry evolve on Cardano as well as other blockchains in the coming weeks and months.You can find out more about project NEWM at the following link: <a href="https://newm.io/">https://newm.io/</a>

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