Could Pardody (PARO) be a high-profit coin like Ripple (XRP) and Cardano (ADA)?

11 June 2022

in XRP

Reading Time: 3 mins read

Although the crypto market has been quite volatile recently, over time it is likely to make your investments boom as long as you do the appropriate research before investing. Parody Coin (PARO) is an upcoming token with this great potential. To learn more about it keep reading.

Parody Coin (PARO), as you could probably tell from its name it was designed for parody purposes. Intending to take over the NFT world, PARO is a deflationary utility token on the Binance Smart Chain (BNB), chosen to give you more control. Currently, in the second phase of its pre-sale, the coin offers many features including Parody Swap, where users will be able to swap any crypto within any blockchain as long as it is equivalent to the same amount of Parody coins. Another features include the Parody Bridge which will allow users to transfer Parody coins to other blockchains and Parody Market, where users can make a parody NFT out of other well known NFTs using parody token.

The token will be listed on CoinGecko, CoinMarketCap in the future, with audits on the way. The platform will also have its own dApp store with the ecosystem functioning as a Super app with the goal of helping those that facilitate the minting, trading and access to the utility of parody NFTs.

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As of now the current PARO coin price is at $0.002 per token.

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What is behind Ripple’s (XRP) rise?

Designed to be one of the most useful cryptocurrencies for a variety of financial services applications, Ripple (XRP) is a token that is used to connect two currencies and conduct low-cost transactions all around the world. With the average transaction fee standing at $0.394 for one of these cross border transactions. XRP is a permissionless and decentralised open-source platform that is carbon neutral with a market capitalisation of an average of about $22 billion. Its three to five-second settling transactions feature makes it unique and outstanding. Developers can use XRP to preserve and care for the environment, while developing strong applications.

Despite the fact that cryptocurrencies are attempting to replace banks, Ripple (XRP) stands out due to its approach to improving operations and utilising cross-bank transactions. Because of its remarkable functionality, the XRP Ledger (XRPL) is used by businesses all around the world. This makes it a great option for this current bearish market.

Will Cardano (ADA) boost the crypto market?

Cardano (ADA) is one of the most sought-after coins on the market right now, thanks to the forthcoming Vasil hard fork update on June 29, 2022, which is expected to boost the network’s scalability and utilisation. The platform’s holdings have seen a massive increase due to the rise in numbers of whales. As seen on CoinShares, institutional investors have increased demand of the coin and have made it ever so much more popular, placing the ecosystem in the same category like Ethereum.

Essentially, ADA is a blockchain market for innovators and changemakers, generating opportunities for global innovation. It is now the sixth largest cryptocurrency on the market, with a 25% increase in the last seven days. Peer-reviewed research was used to create the currency, which decentralises applications and societies. It is the first coin known to be safe enough to protect billions of dollar’s worth of data, created by using evidence-based approaches.