FINTECH | CRYPTOCURRENCY
With many distractors going on in the world, the cryptocurrency market, like many other markets, is depressed. That could mean some values are available.
However, some cryptocurrencies such as ADA, FTM, and DOT are undervalued cryptocurrency investments based on their all-time highs (ATHs) — the entire market has realized monthly losses since November 2021.
“Cryptocurrency has been in a slump recently — the total market value of all tokens has fallen by 23% to $1.7 trillion thus far in 2022.” — The Motley Fool.
These three are still inexpensive or have lost value due to over-concerns by some investors, so investing now could pay off handsomely in the future. Be smart, do your own research, and never invest money you cannot afford to lose. There are no guarantees.
Looking at the crypto market, it is easy to see some bargains where you could put some fiat currency that is currently getting eaten up in your savings accounts — due primarily to inflation and the paltry interest banks are offering. Likewise, if you get an unexpected tax return.
Whatever your investment total, you should spread it evenly across these three — unless you want to put more into FTM due to the current circumstances with two high-level officials leaving. Most experts believe these moves will only affect it temporarily. More on that later.
I discovered three that I believe are undervalued at present that could bounce back tremendously when things in Europe ease up or after the POTUS issues his Executive Order and everyone figures out, it’s not as bad as predicted or it is.
The current crypto market conditions shouldn’t last. The market overall has been depressed since November. Some investors have felt uncertain about various factors and world events.
Many altcoin prices have followed Bitcoin lower and should move upward soon, though they could stay depressed for two or three years. So what? Do you have a better plan? Or, are you still thinking, “I’m too late for cryptocurrency?”
Dollar-cost-averaging (DCA) is still the best approach. As the financial expert tell you to do, pay yourself first. Commit ten percent to your investments every pay period.
If you have money you are thinking about investing, cryptocurrency could make you rich as it has many investors. Some have even quit their jobs and started trading crypto full-time.
You should not consider this investment advice, as I am not a financial advisor. These are the facts as I see them.
What is Cardano (ADA) & Why is it undervalued?
Cardano is a blockchain platform with a distinct ideology and a dedicated team of developers. The platform intends to address issues that existing blockchains have not yet addressed or have not realized Cardano’s success in areas such as decentralized applications (dApps), smart contracts, scalability, and interoperability.
In September, ADA reached $3.18 per coin, its ATH. However, on 24 Nov ’21, e-Toro suddenly announced it would de-list ADA and Tron from its US platform.
This shocked the cryptocurrency world and started a downward spiral that has left the coin at about $.84 about 26% of its ATH.
Why You Should Hold At Least 1000 Cardano (ADA) Before 2023
#ADA #ADA100 #Cardano
“Cardano is one of several promising blockchains known as “Ethereum killers” because of their speed and scalability.” — The Motley Fool, 4 MAR ‘22.
Plus, “Cardano can process up to 257 transactions per second, compared to Bitcoin’s 4.6 and Ethereum’s 15 to 20.” — Coin Market Cap.
Speed is crucial in Proof-of-Stake (PoS) operations. Likewise, what you really need to look at is Hoskinson’s work in decentralizing currency in Africa.
The platform’s altcoin or cryptocurrency, ADA, experienced tremendous growth last year. It has been undervalued due to negative events, but it is an excellent buy-and-hold investment. It is worth investing in because it is still growing and developing.
Cardano whales have a lot of confidence in Charles Hoskinson, the founder of Cardano’s blockchain platform and the co-founder of the Ethereum platform.
Read Andrew Martin’s article, Cardano Whales Have Been Gobbling Up ADA At Record Rates During Recent Dips, for more information about this altcoin and why it is undervalued. He points out that Cardano “…whale accounts bought up more than 16 million of the tokens…” on 28 Feb and 1 Mar — an “all-time-single day spike.”
He also pointed out, “The continued whale accumulation of ADA may be a positive sign of things to come.” You might not have the money or leverage of these whales, but it might be wise to put in $100 or $200 from your tax return this year. A buy-and-hold strategy for ADA could be profitable.
ADA Data Current as of 10 Mar ‘22
“The live Cardano price today is $0.844335 USD with a 24-hour trading volume of $965,918,347 USD. We update our ADA to USD price in real-time. Cardano is up 4.40% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $28,432,440,343 USD. It has a circulating supply of 33,674,344,483 ADA coins and a max. supply of 45,000,000,000 ADA coins.” — Coin Market Cap.
ADA to USD Conversion Chart All-Time
What Is FTM & Why the Sudden Price Drop?
Fantom is a cryptocurrency designed to be simple to use and understand. It is based on the Fibonacci sequence, a fundamental mathematical pattern. FTM has a lot of advantages over other cryptocurrencies, including enhanced security and scalability, thanks to its unique foundation.
FTM is currently about $1.34, which is 38.5% of the $3.48 its ATH.
FANTOM PRICE PREDICTION 2022👑GAME OVER FOR FTM OR GREAT BUYING OPPORTUNITY!?👁👁 NEXT TARGETS
#FTM $FTM #Fantom #DefiProjects
Additionally, Fantom intends to make all crypto transactional bodies compatible by facilitating Decentralized finance (DeFi) through its directed acyclic graph (DAG) platform for smart contracts.
However, with the current bearish market, FTM is another undervalued cryptocurrency. On 6 March, Fantom dropped by 16% — this was a result of panic caused by two of Fantom’s earliest developers leaving the crypto universe altogether.
However, the drop will likely be temporary as the critical groundwork is already implemented, though some of the projects and applications the two worked on will shut down.
This just goes to show the amount of fear and uncertainty there is in the cryptocurrency market right now.
The Fantom Foundation was quick to respond on Twitter.
FTM has a lot of advantages over other cryptocurrencies that makes it worthwhile to invest. One of the advantages is that it has an active development community, despite losing two early developers, which means that it is likely to see continued growth in the future.
Let’s not forget that Fantom has Fantom Anyswap Bridge that’s valued at $4.2 billion total value locked (TVL). That’s one of the five largest with Wrapped Bitcoin at $10.2 billion, DeFi Llama at $7 billion, Avalanche Bridge at about $6 billion, and Polygon at $5 billion TVL.
FTM Data Current as of 10 Mar ‘22
“The live Fantom price today is $1.34 USD with a 24-hour trading volume of $1,381,925,504 USD. We update our FTM to USD price in real-time. Fantom is up 0.13% in the last 24 hours. The current CoinMarketCap ranking is #36, with a live market cap of $3,416,099,170 USD. It has a circulating supply of 2,545,006,273 FTM coins and a max. supply of 3,175,000,000 FTM coins.
FTM to USD Chart All-Time
DOT focuses on anonymity and security with a unique algorithm, making it impossible to track transactions. Additionally, it is among the most undervalued cryptocurrencies. As a result, it is an excellent choice for people seeking anonymity and security in their crypto investments.
DOT is currently $17.71, down about 68.5% from its $54.98 ATH.
#DOT #Cryptocurrency $DOT #Polkadot #Parachain
Hence, its blockchain network is adaptable and interoperable. This makes it simple for blockchain networks to communicate with one another.
Thanks to blockchain bridges, this crypto also makes interoperability across blockchains possible. DOT is developing a protocol that will allow several blockchains to communicate with one another seamlessly.
“If you use a bridge to send one Solana coin to an Ethereum wallet, that wallet will receive a token that has been “wrapped” by the bridge — converted to a token based on the target blockchain. In this case, the Ethereum wallet would receive a “bridge” version of Solana that has been converted to an ERC-20 token — the generic token standard for fungible tokens on the Ethereum blockchain. — Coindesk.
DOT Data Current as of 10 Mar ‘22
“The live Polkadot price today is $17.71 USD with a 24-hour trading volume of $889,559,910 USD. We update our DOT to USD price in real-time. Polkadot is up 3.64% in the last 24 hours. The current CoinMarketCap ranking is #12, with a live market cap of $17,486,666,033 USD. It has a circulating supply of 987,579,315 DOT coins and the max. supply is not available.” — Coin Market Cap 10 MAR ’22.
DOT to USD Conversion Chart All-Time
“DOT could become one of the top cryptos of 2022.” — Daily HODL.
Why are ADA, FTM and DOT excellent Buy-and-hold investments?
Because of the fundamentals of their particular projects, ADA, FTM, and DOT are ideal long-term investments. The primary aim of these projects is to broaden the worldwide reach of DeFi.
This will help them establish themselves as significant players in decentralized data streaming. In addition, they also enhance the worldwide reach of blockchain technology by providing fiat currency off-ramps.
Fundamental analysis shows that these three cryptos are valid buy-and-hold investments. Although the crypto market is currently in a bear market, there are numerous reasons to consider investing in it over the long term.
Cryptocurrencies can yield huge returns on investment if properly researched and planned. As a result, as seen above, other undervalued cryptocurrencies should be purchased.
These are three of the most extensively used coins across various businesses, making them outstanding buy-and-hold investments. ADA is widely used in financial applications, and FTM is widely used in gaming. The Polkadot ecosystem’s use of DOT is on pace to become an internet standard worthy of investment.
DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and you should consider anything I write as informational and friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.
Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.
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