Connect with us

News

ADA Token on Cardano Blockchain Becomes Third Largest Cryptocurrency

Published

on

ADA Token on Cardano Blockchain Becomes Third Largest Cryptocurrency

ADA Token on Cardano Blockchain Becomes Third Largest Cryptocurrency.

A little-known digital token tied to the Cardano blockchain has just become the world’s third-largest virtual currency as network developers look to take advantage of the rise of decentralized finance.

With the so-called ADA Cryptocurrency jumping around 50 percent over the past week alone, optimism is mounting that new technology enhancements will enable smart contracts on Cardano for its announced September 12 target. That will allow its network to offer lucrative services like Defi, where Ethereum currently dominates. The ADA price in India stood at Rs. 163, while the Ethereum price in India stood at Rs. 2.48 lakhs at 11 am IST on August 17.

In a rally greeted with skepticism by some big names in the industry, the ADA token now has a market value of more than $ 69 billion (approximately Rs. 5,12,360 crore), larger than all rivals except Bitcoin and Ether, according to tracker CoinGecko. The price of Bitcoin in India stood at Rs. 36 lakhs at 11 am IST on August 17.

“Cardano fans have been waiting, some impatiently, for what seems like forever for some smart contract news,” said Antoni Trenchev, managing partner and co-founder of cryptocurrency lender Nexo. “Cardano is fighting with no. 2 crypto Ethereum to be the preeminent blockchain offering smart contracts. ”

The more than 1,400 percent jump in ADA over the past year outpaces the returns of both Bitcoin and Ether.

The virtual currency has risen despite skepticism about its usefulness from some prominent cryptocurrency commentators. For example, Galaxy Digital LP CEO Mike Novogratz posted on Twitter Sunday that “I spoke to twenty of the smartest people I know in space, and none of them saw Cardano having traction” with developers.

“Most people outside of cryptocurrencies haven’t even heard of Cardano, but here it is with a market capitalization” that tops many of the components of the S&P 500 index, Trenchev said.

Decentralized finance, or Defi, transfers financial functions to digital ledgers, allowing people to do things like lend or borrow funds and earn interest on a savings account without the need for traditional intermediaries like banks. Its growing popularity is part of a broader trend of increased blockchain use.

Recent rallies in Bitcoin, Ether, ADA and other tokens helped the cryptocurrency market surpass $ 2 trillion (roughly Rs. 1,48,50,910 crores) in value over the weekend for the first time since May when the famous volatile sector succumbed to defeat.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Appeals court allows Texas to continue banning most abortions

Published

on

Appeals court allows Texas to continue banning most abortions

Appeals court allows Texas to continue banning most abortions.

AUSTIN, Texas – A federal appeals court is once again allowing Texas to continue to ban most abortions.

Thursday night’s decision keeps the law known as Senate Bill 8 in place as the Justice Department tries to stop the law.

The Biden administration is suing Texas over restrictions that prohibit abortions once heart activity is detected, usually around six weeks.

The US Court of Appeals for the Fifth Circuit has now allowed the law to proceed three times since August.

Texas law allows private citizens to collect at least $ 10,000 in damages if they file a successful lawsuit against an abortion provider who violates the restrictions.

Continue Reading

News

Lance Bass and her husband are now proud parents of twins

Published

on

Lance Bass and her husband are now proud parents of twins

Lance Bass and her husband are now proud parents of twins.

Lance Bass used to tour the world as a member of NSYNC, but now he has a very different life. Bass and her husband Michael Turchin are proud parents, news they were delighted to share with the world.

Bass and Turchin welcomed the twins to their family today, Violet Betty and Alexander James. The NSYNC singer was delighted that everyone knew about this joyous event through his Instagram account.

While calling his twins “baby dragons,” Lance Bass shared how incredibly happy he was and how much love he felt. Obviously, a lot of good wishes flooded the couple and he addressed them with gratitude as well.

The baby dragons have arrived !! ❤️❤️❤️❤️❤️ I can’t express how much love I feel right now. Thanks for all the kind wishes. It meant a lot. Now how do you change a diaper? Ahhhhhhhh!

The proud new parents got married in 2014 and announced that they were expecting twins in June via TikTok. This came after the family had a difficult surrogacy situation involving a miscarriage, multiple IVF treatments, and nine different donors. The ubiquitous COVID-19 pandemic didn’t help either.

Through all the adversity, Lance Bass and her husband Michael Turchin never gave up on their dream of becoming parents. Today, the 42-year-old former boy band member and her 34-year-old husband saw the fruits of all that hard work join their family.

Continue Reading

Business

Jay Z invests USD 19 million in company in cannabis products

Published

on

Jay Z invests USD 19 million in company in cannabis products

Jay Z invests USD 19 million in company in cannabis products.

Jay-Z is considered one of the most legendary rappers in the world of Hip-Hop. In addition to his musical prowess, Hov is also a smart businessman and is worth over a billion dollars for good reason. You also realize that people love to gamble.

Jay-Z was one of the names linked to the acquisition of the Denver Broncos from the NFL for a lucrative $ 4 billion. This would have made Jay-Z the first black owner of an NFL team.

Unfortunately, that ultimately didn’t happen, as Jay-Z was said to have no interest in investing that much money in the Denver Broncos in the first place. Instead, he decided to invest a lot of money in a smart home company.

Now it appears that the music mogul has decided to invest $ 19 million in payment company Flowhub as it is entering the marijuana industry alongside venture firms Headline and Poseidon.

Worth $ 200 million, Denver-based Flowhub helps cannabis dispensaries process payments and has raised a total of $ 50 million to date. While talking to Forbes, Flowhub founder and CEO Kyle Sherman spoke about Jay-Z’s investment in the business.

“When Jay says, ‘I’m not a businessman, I’m a businessman,’ it’s true. “He has incredible business acumen, he really knows how to surround himself with brilliant people and build great companies.

We are delighted to announce this capital increase. Headline is an incredible Silicon Valley-based venture capital firm, Poseidon is a pioneering investor in the cannabis industry, and JAY-Z is a global cultural and creative force no matter what industry they are involved in.

I couldn’t think of a better group to work with as we take this company to the next stage. This funding not only underscores the significant value that Flowhub offers to our clients, but also the maturation of the cannabis industry in general. We remain committed to developing innovative products that help our retail customers do better business. “

Jay-Z will continue to shine in whatever business endeavor he sets out to do and that is unlikely to change anytime soon.

Continue Reading

Trending