Could Cardano (ADA), Terra (LUNA) & Parody Coin (PARO) Be Next To Bubble?
Want to multiply your investments by thousands of percent? Stock market just not cutting it? Then crypto might be your answer. Although the market is currently red, it has a history of rebounding as technology advances and use-cases expand. ...
Want to multiply your investments by thousands of percent? Stock market just not cutting it? Then crypto might be your answer. Although the market is currently red, it has a history of rebounding as technology advances and use-cases expand.
Let’s look at why Cardano (ADA), Terra (LUNA), and Parody Coin (PARO) could be the next to bubble.
Cardano (ADA)
Cardano (ADA) is a blockchain network that was launched in 2017 to host dApps, which are autonomous programmes that provide services using self-executing smart contracts. Cardano (ADA) has impressive technical specifications, and its active development team may be able to help it maintain a long-term advantage over its competitors.
Cardano (ADA), according to data by CoinMarketCap, can process up to 257 transactions per second, compared to 4.6 for Bitcoin (BTC) and 15 to 20 for Ethereum (ETH). The Ouroboros consensus mechanism, a proof-of-stake system in which miners verify transactions using existing tokens rather than solving complex maths puzzles as in older proof-of-work blockchains, is responsible for its speed.
Yet Cardano (ADA) is significantly slower than other proof-of-stake blockchains, such as Solana (SOL), which can process a whopping 50,000 transactions per second. However, Input Output Hong Kong, Cardano’s (ADA) developer, isn’t accepting defeat.
Hydra, a planned update that could go live in late 2022, is intended to improve scalability. Hydra is designed to improve Cardano’s (ADA) processing efficiency, with the potential to increase its capacity to a colossal 1 million transactions per second. However, Input Output Hong Kong emphasises that this is an aspirational goal, with the main goal being to scale the platform with demand.
Terra (LUNA)
Terra (LUNA), which was founded in 2018, is a blockchain platform that enables the use of stablecoins, which are cryptocurrencies whose values are tied to traditional currencies such as the US dollar or the Euro. Because of its real-world utility, the asset appears to be destined for success.
Despite the fact that cryptos are widely used to store value and make payments, their volatility poses a significant challenge. Many merchants, for example, would be hesitant to accept cryptocurrency as payment because the value of the cryptocurrency could have plummeted by the time they needed to convert it back into a national currency. Similarly, many savers don’t want to see their net worth fluctuate dramatically in relation to their daily expenses. Terra (LUNA) aims to address these issues by developing secure digital assets.
The native token of the blockchain, LUNA, absorbs the volatility of the Terra (LUNA) stablecoins and grows in response to user adoption.
LUNA is already the 8th largest crypto, with a market cap of around $27 billion, indicating strong demand for the service it provides. As people become more comfortable with saving and spending digital assets, the platform is poised for continued growth.
Parody Coin (PARO)
The latest deflationary utility token to be developed on the Binance Smart Chain (BEP20) is Parody Coin (PARO), which recently entered its first stage of presale.
On its platform, Parody Coin (PARO) is introducing the ability to mint, buy, and sell NFT ‘parodies.’ These ‘parodies’ will be significantly less expensive than many of the popular NFTs available on sites like OpenSea.
Because original NFT owners can gain ownership of the parody NFT by burning or locking up the original, the NFT market may eventually migrate entirely to the Parody marketplace as it becomes more accessible.
Putting the concept aside, Parody Coin (PARO) boasts ambitious technology in its White Paper that will make Parody Coin (PARO) a highly useful crypto. Other methods for holders to earn easy passive income, such as reflection and staking, will also be implemented by the platform.
The Parody Swap, which is essentially a multichain swap that aggregates liquidity into one place, was one of the first features to be revealed on Parody Coin (PARO). Users can trade any crypto for the same amount of PARO on any blockchain.
The Parody Bridge is another one of the platform’s features that allows PARO to be transferred to other blockchains. Despite the sophistication of its features, Parody Coin (PARO) pledges to keep its fees low and TPS high.
PARO is currently priced at around $0.002 due to the fact that it is still in the early stages of its presale. Investors are encouraged to buy now because the price is likely to incline as the launch date approaches.
If you want to benefit from another presale, Explora Chain (EXPL) might be for you. This multifaceted platform strives to create an engaging community for both non-crypto and crypto enthusiasts to enjoy and benefit from. Users will be able to generate passive income via staking, while enjoying the platform’s innovative features like its Launchpad, P2E games and NFT marketplace.
Verdict
The total market value of all tokens has fallen by 23% to $1.7 trillion so far in 2022, putting crypto in a slump. However, the industry has a history of recovering from downturns. Because of their technical capabilities and potential for real-world utility, Cardano (ADA), Terra (LUNA), and Parody Coin (PARO) are excellent choices if you want to buy the dip.
Learn more about Parody Coin (PARO) here:
https://presale.parodycoin.io/register
Learn more about Explora Chain (EXPL) here:
https://presale.explorachain.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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