• Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
Newsletter
Crypto Hoarding
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us
No Result
View All Result
Crypto Hoarding
No Result
View All Result
Home Cryptocurrency Hackers

Cardano is no longer the world’s third largest cryptocurrency – Business Insider India

Admin by Admin
September 30, 2021
in Cryptocurrency Hackers
0
Cardano is no longer the world’s third largest cryptocurrency – Business Insider India
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
  • Cryptocurrency Cardano has lost its crown being the ‘third largest player in market.
  • Stablecoin Tether has now taken its place instead.
  • The gap between has been fluctuating from as little as $70 million to $3 billion.

Cardano’s ADA token skyrocketed back by 150% in August to become the third largest cryptocurrency in the world by market capitalisation. But, its triumph seems to have been short-lived.

While the rest of the crypto market struggled to decide its direction, the decentralised blockchain platform was knocked off its perch by Tether, the largest stablecoin in the world, on September 29.

The difference between the two expanded to $3 billion during the night, however, it has shrunk to a mere $1 billion as of 9:00am Indian Standard Time (IST) as Cardano looks to reclaim its throne.

Advertisement

This isn’t even the first disappointment Cardano has had to face his month. ADA’s market capitalisation was bracing to hit $100 billion as recently as September 2, riding on the coat-tails on its Alonzo Hard Fork update. Some were even hoping that it would reach the heights of Ethereum. But, the platform fell short of its triple-digit goal at an all time high of $98.91 billion.

This time around, even the slew of new partnerships announced by the platform barely two days ago, were not enough to shelter Cardano from the pressures of the global crypto market, which has settled into a slump.

Cardano is no longer the world’s third largest cryptocurrency
Cardano’s market capitalisation over the month of September 2021Coinmarketcap/BI India

Advertisement


Cardano falls despite unveiling an new stablecoin, partnerships, a new DApp store and more funding

The Cardano Summit, held between September 25 to September 26, included the announcement of the blockchain’s new stablecoin, Djed, in collaboration with fintech company COTI.

“[It is an] autonomous bank that buys and sells stablecoins for a price in a range…”

Cardano founder, Charles Hoskinson, describes Djed in its whitepaper published in August 2021

Related articles

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

July 5, 2022
Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

July 5, 2022

The development firm behind Cardano, Input Output, also announced two new partnerships. One is with Oracle protocol Chainlink and another with the US-based satellite TV provider, the DISH network — a Fortune 500 company.

Advertisement

Developers on the Cardano blockchain will also have the opportunity to showcase their decentralised applications (DApps) in a “trusted and democratised environment for developers to publish their DApps without facing censorship,” called the Plutus dAppStore.

Just like Google has the Play Store for Android Apps and Apple has the App Store, the Plutus dApp Store is where users will be able to download applications that are powered by Cardano.

And, if all this wasn’t enough, the commercial and venture capital arm of the cryptocurrency, Emrugo, announced $100 million in fresh funding to further develop the Cardano ecosystem.

Advertisement

Why does market capitalisation matter?

The market capitalisation of a cryptocurrency is one of the primary ways that investors gauge whether or not a coin is safe to buy as compared to its peers — it indicates its growth potential.

The higher the market cap of a particular digital asset, the more dominant it is considered to be in the global market. The more dominant it is, the more likely it is to weather the tides of time in the volatile environment that is cryptocurrencies.

Advertisement

September has been a rollercoaster for all cryptocurrencies, not just Cardano

The crypto market has been fighting against the fear, doubt and uncertainty (FUD) created by China since last week. The country reiterated its anti-crypto stance and has vowed to shut down all crypto-related activity within its borders.

The crypto market initially shrugged off China’s proclamations as just another scare tactic. However, big wig companies did not have the same reaction.

The biggest crypto exchanges in the world, Binance and Huobi, announced they will no longer be accepting new registrations from users based out of China. Sparkpool, the second largest mining pool in the world for Ethereum, will be shutting down operations in less than 24 hours. And, Alibaba — China’s e-commerce giant — announced it will no longer be selling mining equipment.

Advertisement

The crypto market seems to be finding its sea legs as it returns into the green on September 30. Cardano is up by 1.95% with a price of $2.11 but has been unable to come back up to third rank so far.

SEE ALSO:
Keeping your cryptocurrency safe — 12 ways to keep hackers, scammers and fraudsters at bay

Alibaba, Binance, Sparkpool and other companies are scrambling to avoid any heat from China over crypto concerns

Share76Tweet47

Related Posts

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

Anonymous Bitcoin Whale Just Moved $67M Worth Of BTC Off Coinbase – Benzinga – Benzinga

by Admin
July 5, 2022
0

What happened: A Bitcoin BTC/USD whale just sent $67,061,557 worth of Bitcoin off Coinbase.The BTC address associated with this transaction...

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

Crypto hackers loot $2 billion in H1 2022 as cybercriminals thrive – Finbold – Finance in Bold

by Admin
July 5, 2022
0

Although the cryptocurrency market and its flagship asset Bitcoin (BTC) have been struggling in the first half of 2022, a...

Alleged Chinese police database hack leaks data of 1 billion – Spectrum News NY1

Alleged Chinese police database hack leaks data of 1 billion – Spectrum News NY1

by Admin
July 5, 2022
0

HONG KONG (AP) — Hackers claim to have obtained a trove of data on 1 billion Chinese from a Shanghai...

Lawsuits involving Rogers, Coinsquare point fingers over $200K Bitcoin hack – The Logic

Lawsuits involving Rogers, Coinsquare point fingers over $200K Bitcoin hack – The Logic

by Admin
July 5, 2022
0

In mid-October 2018, an unnamed hacker contacted Rogers pretending to be Felix Kimelman, a technology consultant who lives in the...

Dutch University set to recover more than twice the paid BTC ransom in 2019 – Cointelegraph

Dutch University set to recover more than twice the paid BTC ransom in 2019 – Cointelegraph

by Admin
July 5, 2022
0

Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed...

Load More
  • Trending
  • Comments
  • Latest
Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

Major Changes Coming to XRP Ledger As Ripple-Backed Startup Launches Key Amendment in Beta Testnet – The Daily Hodl

April 21, 2021

SteveWillDoIt reveals hacker stole his crypto wallet: “I lost a lot of money” – Dexerto

July 26, 2021
Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

Forte’s PTI gets financial transaction licenses for blockchain games – VentureBeat

February 11, 2022
DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap – Cointelegraph

April 15, 2021
Are good times for Litecoin [LTC] too good to last for long – AMBCrypto News

Are good times for Litecoin [LTC] too good to last for long – AMBCrypto News

0

Rivals Ripple and R3 partner up | PaymentsSource – American Banker

0
Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

Ripple seeks shelter in D.C. from Libra’s political storm – American Banker

0

Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches – Coindesk

0
Are good times for Litecoin [LTC] too good to last for long – AMBCrypto News

Are good times for Litecoin [LTC] too good to last for long – AMBCrypto News

July 6, 2022
Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

Ethereum just finished its second-to-last major ‘merge’ test and the main upgrade could be just months away – Fortune

July 6, 2022
Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20000, as Crypto Volatility Continues – Market Updates Bitcoin News – Bitcoin News

July 6, 2022
What if Ripple loses and XRP is deemed a security? – FinanceFeeds

What if Ripple loses and XRP is deemed a security? – FinanceFeeds

July 6, 2022
Crypto Hoarding

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Bitcoin
  • Blockchain
  • Cryptocurrency Hackers
  • Ethereum
  • Litecoin
  • Ripple

Newsletter

[mc4wp_form]

  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Cryptocurrency Hackers
  • Ripple
  • Litecoin
  • Contact Us

Copyright (c) 2021 - Crypto Hoarding - All Rights Reserved - web design by TechyRack