Cardano [ADA] & Tron [TRX] – This week has been quite a rollercoaster for the crypto market. Bitcoin (BTC) is currently sitting just above the $7,500 mark and Ethereum [ETH] is sitting above $570. In the month of May, the entire cryptocurrency market has lost around $100 billion.
Cardano released its V1.2 update early this week and since, ADA has seen a 30% increase in its price. Tron, on the other hand, just released its main net last night and has yet to see a price increase.
While ADA may have lost a considerable amount of value since the beginning of the year, its price isn’t a true representation of what its tech will be capable of down the road. Many of these new third-generation altcoin projects’ roadmaps aren’t set to be completed for multiple years. New revolutionary technology like Cardano takes a considerable amount of time to build. Many day traders last year made a considerable amount of money due to the crypto market finally grasping mainstream attention, but the market has since matured and there most likely won’t be as many ‘price swings’ as once before.
Towards the end of 2017, Bitcoin was growing a $1,000, a day. A lot of individuals that joined in the market towards the end of 2017, did it based on “fomo” and hadn’t yet done their research on the actual projects and visions behinds these digital coins. The days of making enough profit to buy a Lambo in six months is no more people – time to do some research.
Ignore the similar comments out there like this guys, below. ADA is a long-hold and those who say otherwise are misinformed.
— “jedi fighter” (@RyanCarr1976) May 29, 2018
Research coins and projects you’re interested in.
Only invest an amount that you can afford.
Diversify your portfolio by investing in multiple cryptocurrencies.
Hold it in a cold storage wallet and don’t touch it. Currently, it isn’t advantageous to use some digital tokens in day-to-day transactions due to taxes and transaction fees, but it will down the road.
At press time, ADA is trading at $0.227 a coin, up 8.59%, in 24 hours.
Yesterday, the Tron Foundation launched its project’s main net. TRX has seen a sharp decrease this week, which is extremely unexpected considering it was the biggest week for Tron yet. A few months ago, the coin saw spikes well over 100%, in 24 hours when a ‘potential’ partnership was announced via Twitter, but it seems these marketing tactics may have burned some of its investors.
Tron’s token swap/migration isn’t for a few more weeks, so TRX holders have some time before they need to migrate their TRX tokens onto exchanges. What will TRX’s price do next? Who knows, but we shall see.
At press time, TRX is trading at $0.0610 a coin, down –0.67%, in 24 hours.
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