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Uniswap (UNI) and Cardano (ADA) Post Big Losses on the 30-day chart; Rally Takes Orbeon Protocol (ORBN) Price Up Over 2202% 

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In the turbulent cryptocurrency world, Uniswap (UNI) and Cardano (ADA) have experienced significant losses on the 30-day chart, with investors growing increasingly concerned about their prospects. However, amidst the market turmoil, a new player has emerged, rallying strong and capturing the crypto community’s attention. Orbeon Protocol (ORBN) has witnessed an astonishing 2202% price increase. Now in its eleventh presale round, the Orbeon Protocol (ORBN) token value has skyrocketed from a mere $0.004 to $0.0921, showcasing its potential to disrupt the market and make waves.

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Uniswap (UNI)

Uniswap (UNI) is the world’s biggest decentralized exchange (DEX), allowing users to trade cryptocurrencies without the intervention of a central authority. The whole trade occurs on Uniswap (UNI), an Ethereum-based suite of smart contracts.

Uniswap (UNI) is a market maker exchange that is automated. Traders on Uniswap (UNI) may pick from various token pairings, but Uniswap (UNI) has a slow rate of 100 transactions per second.

Uniswap (UNI) also suffers from relatively high transaction costs, which might make modest deals less desirable to consumers. These fees result from the Ethereum (ETH) network’s congestion, which increases trading costs and irritation. Uniswap (UNI) has fallen 4% in the last month, struggling for stability after falling 85% from its all-time high, indicating investor concern.

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Cardano (ADA)

Cardano (ADA) promises to address major challenges plaguing first and second-generation blockchains, including scalability, interoperability, and sustainability. Cardano (ADA) uses the proof-of-stake method to eliminate the need for energy-intensive mining and significantly minimizes the platform’s carbon footprint.

Cardano (ADA) has faced hurdles due to its usage of proof-of-stake, such as delayed development pace and mistrust about its long peer-review process, which some critics claim hampers innovation.

As a result, Cardano (ADA) has dropped 14.3%, approaching a 90% drop from its all-time high. This precipitous dip reflects weakening market trust and raises concerns about the prospects of Cardano (ADA).

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN)

Orbeon Protocol (ORBN) is a ground-breaking investment platform that enables everyone to participate in promising enterprises at an early stage. Orbeon Protocol (ORBN) is upending the crowdfunding and venture capital industries since, thanks to Orbeon Protocol (ORBN), investment possibilities will no longer be limited to a few wealthy individuals.

Startups can utilize Orbeon Protocol (ORBN) and their NFTs-as-a-service (NFTaas) to mint NFTs backed by the company’s equity and give them to interested consumers in a fractionalized and hence cheaper form for as low as a dollar. Anybody on the Orbeon Protocol (ORBN) platform can now access startup investments.

Multiple safety protocols are in place for Orbeon Protocol (ORBN) users. Every smart contract on the platform is audited by Solid Proof. Moreover, suppose a company fails to meet its funding target during the fundraising cycle. In that case, all investors will be repaid owing to the Orbeon Protocol (ORBN) smart contract’s “Fill or Kill” functionality.

The price of Orbeon Protocol (ORBN), which is now in its eleventh round of presale, has rallied by 2202% from $0.004 to $0.0921. Analysts anticipate that if the Orbeon Protocol (ORBN) presale continues to sell out and hits highs of $0.24 after they launch on major exchanges, early investors could earn a 60x return.

Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register 

Cardano Trading Pair Delisted Citing Low Trading Volume

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Cardano, Shiba Inu, Polygon, and Solana are among the crypto assets to be delisted by Binance.US due to low trading activity.

Based on recent trading activity, Binance.US will remove and cease trading for the following Advanced Trading pairs on March 29, 2023, at 8 p.m. PDT / 11 p.m. EDT. 

As per the announcement post, the affected trading pairs are ADA/BUSD, ALGO/BUSD, BUSD/USD, BUSD/USDT, EOS/BUSD, LPT/BUSD, MANA/BUSD, MATIC/BUSD, NEAR/BUSD, OMG/BUSD, SHIB/BUSD, SOL/BUSD, TRX/BUSD, USDC/BUSD, XTZ/BUSD, and ZIL/BUSD. 

It added:

We recommend that you carefully review your trades and execute or cancel open orders on impacted Advanced Trading pairs before they are removed from Binance.US. Deposits and withdrawals for BUSD remain available. 

The delisting occurred as regulatory action against the token issuer and a scheduled delisting from a major cryptocurrency exchange caused Binance USD’s market cap to drop below $10 billion for the first time in almost two years.

The New York Department of Financial Services instructed stablecoin issuer Paxos to stop creating new Binance USD [BUSD] tokens as of February 21.

In terms of Cardano, its ADA token was recently coupled with the second-largest stablecoin in the world to trade on Binance’s US market. Together with ADA, the stablecoin’s rival Solana [SOL] was also added.

Binance.US noted that the inclusion of the two leading altcoins aims to achieve “scalability, interoperability, and sustainability.” TronWeekly reported the other day.

At the time of writing, ADA was marginally down in the last 24 hours to $0.37. The 7th-ranked altcoin’s market cap stood at $12.8 billion.

Cardano DeFi Surge To New Heights

Despite the lackluster price action, the Cardano network is seeing positive growth.

According to data from pool.pm, the total number of native assets has surpassed eight million and is currently 8,027,363. They were minted on 70,901 different policies. Moreover, 7,511,799 NFTs have been reported based on the same data source.

With 118 projects already launched, there are 1,213 projects developing on Cardano, bringing the total number of transactions on the network to 63 million.

Data from DeFiLlama showed that the ADA-denominated value locked in the Cardano DeFi has risen to new heights of 405.63 million. As of now, Cardano DeFi has a total value locked in dollars of $135 million, the highest in 2023.

Cardano NFT Project Releases New Collection Featuring Snoop Dogg

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Clay Nation, a Cardano-based NFT project has brought out a new collection that features the legendary rapper Snoop Dogg.

Titled, “Icons by Clay Nation”, the edition is the first of its kind, with the musician’s famed 1994 hit single “Snoop Dogg, Gin, and Juice.”

The latest collection will include iconic clay animations, land pitches, and unlockable music content for Cardano.

Snoop Dogg and his son Champ Medici took part in a Twitter chat with Cardano CEO Charles Hoskinson to discuss the new launch collection. The chat was facilitated by Clay Nation.

That said, this is not the first public collaboration between them.

A full-length music video for “Bron and Bronny,” featuring the well-known rapper and his son Cordell Broadus’ Web3 alter ego Champ Medici, was released by Clay Nation last year.

Filmed at Input Output CEO Charles Hoskinson’s ranch in Wyoming, where the co-founder himself made a dramatic arrival while riding in an all-terrain Sherp vehicle and sipping champagne with Champ Medici.

The collaboration turned out quite profitable for the Cardano NFT ecosystem.   

According to CryptoSlam, Cardano-based NFT sales have surged by over 30% in a span of 24 hours. NFT buyers increased by a whopping 94%. The total value of sales in 24 hours was $313,000

Many believed Snoop Dogg to be a lucky charm for the layer 1 blockchain’s performance in the NFT domain. This is not a mere coincidence as Snoop himself is a well-known digital art lover.

On the other hand, the crypto market appears to be recovering in the wake of a severe financial crisis that hit several large banks, including Credit Suisse which had to be sold off in order to survive.

Cardano Founder Points Out The Irony Of Credit Suisse

Recently Cardano‘s founder told a story about his interactions with the bank that is currently having trouble.

As Hoskinson revealed in his podcast webcast on March 20, Credit Suisse refused to open an account for him back in 2014 when he was the CEO of Ethereum and stationed in Switzerland, citing that cryptocurrencies were too risky and unstable to work with.

In particular, the inventor of Cardano drew attention to the irony of all the issues that Credit Suisse and the financial industry as a whole were today facing in light of their disapproval of cryptocurrency and Hoskinson himself nine years earlier.

Cardano Goes Full P2P With The Launch Of Node 1.35.6

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There has been an upgrade to Cardano Blockchain. The version, dubbed node 1.35.6, would give the Cardano node dynamic P2P capability, increasing network resiliency, according to developers.

To put it simply, this version adds peer-to-peer [P2P] support which helps to increase decentralization and throughput.

Without the need for static setups, network users can now test automatic node communication.

Additionally, users only need to change the “EnableP2P” setting to true and update the configuration file with the new connection layout to enable this capability. Those who prefer the previous connecting technique can still use it.

The latest development updates on the Cardano platform, including the completion of benchmarking tests and studies for the new SECP primitives and of course the node v.1.35.6 release, was announced by the company in a lengthy list published by the IOG team on 3 March.

Previously, Input Output, the team responsible for Cardano research and development, released the node version 1.35.5 in response to the brief node outage the network experienced in mid-Jan, 2023.

Over 50% of the network’s nodes went offline as a result of the brief node outage. Nonetheless, the network was able to recover on its own, without assistance, in a matter of minutes.

Just a few days back, Cardano founder Charles Hoskinson emphasized the significance of supporting fresh decentralized alternatives in the wake of the most recent bank catastrophe.

Cardano Founder Doubles Down On Crypto Banks

Hoskinson shared his view on the unstable and volatile banks and how crypto needs to delink itself from these traditional legacy institutions.

His remarks come after three leading crypto banks collapsed- Silvergate was liquidated, and Silicon Valley Bank [SVB] and Signature was shut down by regulators, sending investors into a panic mode.

Particularly, stablecoin USDC, whose dollar peg fell to an all-time low due to its issuer Circle’s $3 billion reserves in the beleaguered SVB.

On the other hand, the stablecoin created by COTI on Cardano, called Djed, outperformed the rest of the market and was once even trading at $1.08 per dollar.

The stablecoin problem served as Djed’s first significant test since it was introduced on Cardano’s core network less than a month ago. For those new, Djed is an algorithmic stablecoin with redundant collateral, designed by COTI.


Cardano’s ADA Sees Surge In Large Transactions & Growing DeFi Ecosystem

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Cardano’s native cryptocurrency, ADA, is seeing a surge in large transactions worth over $100,000 on its blockchain, according to a tweet from Ali, a prominent crypto analyst. 

This trend indicates increased engagement from institutional investors and ADA whales, who are shedding light on their investment strategies.

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In addition to the rise in large transactions, ADA whale reported that Cardano’s total value locked (TVL) had grown 20% per month to 358 million ADA year-to-date. 

If this trend continues, it could hit 1 billion ADA in a year, which translates to $3 billion if ADA reaches its all-time high. This growth doesn’t even factor in the launch of new projects like AxoTrade, GeniusyieldO, TeddySwap, Yamfore, SpectrumLabs_, and Liqwidfinance.

In the Twitter thread ADA, whale expressed the belief that ignoring Cardano’s DeFi ecosystem for tribalistic reasons is foolish, stating that it will likely become a top 5 DeFi ecosystem in the next bull run with a massive community behind it. Also noted that while volume may still be low for now, outside money is flowing in, as evidenced by the charts of MinswapDEX.

However, not everyone is bullish on Cardano. Another community member accused ADA whales of being driven solely by money and causing stress for others. The response from ADA whale was dismissive, suggesting that the accuser should disappear if they feel they have nothing valuable to contribute to the conversation.

However, the future performance of Cardano’s DeFi ecosystem is uncertain, but it is evident that there is a rising interest from both institutional investors and the ADA whale community.

Cardano (ADA) Price Prediction

ADA recently found solid support at $0.30, and bulls regained momentum, resulting in a rapid price increase this week to reach $0.35 resistance. The ADA chart is bullish, trading at $0.3345 with a 10% rise in the weekly chart.

ADA 1D graph coinmarketcap 5
Source: CoinMarketcap

According to PricePredictions, a crypto price tracking and forecast platform that uses machine learning-based algorithms, Cardano is expected to end the month at $0.3022.

Additionally, CoinMarketCap’s community of 1,229 members has projected an average price of $0.3861 for Cardano by the same date, representing a potential 17.71% increase or +$0.05809 from its current price.

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Source: CoinMarketcap

Related Reading | Ethereum’s Shanghai Upgrade Has Now A Target Date Of April 12

Cardano Founder Predicts Crypto Banks Will Be “Game Changer”

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Cardano founder Charles Hoskinson shared his view on the unstable and volatile banks and how crypto ought to detach itself from these traditional legacy institutions.

In the wake of the recent failure of the banks, Hoskinson raised the need to support new decentralized alternatives.

A user proposed the requirement for a decentralized cryptocurrency bank. The founder of Cardano responded by saying it would be “game over” if it were to happen.

His remarks come after three leading crypto banks collapsed- Silvergate was liquidated, and Silicon Valley and Signature were shut down by regulators, sending investors into a panic mode.

Almost $70 billion of the value of the cryptocurrency industry was lost in only one day.

Bitcoin fell below $20,000 on 10th March, hitting a near-two-month low, caused by the stock market sell-off in the U.S.

Cardano too slid by over 6%. Even if now the majority of these assets have recovered from their losses, the closure of these institutions will have a greater impact on the crypto business.

Mina Tadrus, CEO of quant investment management firm Tadrus Capital LLC and general partner of Tadrus Capital Fund, said.

“These banks enabled cryptocurrency traders and companies to deposit, transfer and convert fiat currency into digital assets such as Bitcoin, Ethereum, and other cryptocurrencies.”

With these banks now defunct, it will become difficult for crypto businesses to move money between entities and access banking services, Tadrus noted.

“Furthermore, such closures could mean reduced trust from investors who may no longer be aware of the necessary safeguards involved in their bank transactions.”

Cardano Founder Remarks Highlights This

According to Tadrus, this might result in a general fall in community engagement, which would ultimately reduce market liquidity and make it challenging for cryptocurrency businesses to develop new products or continue to operate over the long run.

Despite these obstacles, the cryptocurrency sector continues to expand and evolve, with fresh projects and programs starting every day.

About Hoskinson’s recommendation to stop using banks. It highlights the potential for cryptocurrencies to develop new, decentralized alternatives to established financial infrastructure.

It will be interesting to see how the industry handles the regulatory environment as it develops and creates new decentralized financial systems.

Prior to this, Hoskinson cautioned the cryptocurrency community to exercise caution during the banking crisis. In the tweet, the Cardano founder warned crypto investors to avoid over-collateralizing their holdings as they wait for the market to stabilize.

Cardano Founder Throws Shade At Crypto Critics: Defends Crypto Firms’ Resilience

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Charles Hoskinson, the founder of Cardano, has taken a dig at critics of the cryptocurrency industry in a recent tweet. In his tweet, Hoskinson compared the operations of major cryptocurrency firms like Circle, Paxos, and Tether to those of banks, emphasizing that these firms have been able to endure under conditions that have caused banks to fail.

Hoskinson pointed out that firms like Circle, Paxos, and Tether hold collateral mostly in cash and T-bills, yet the government deems cryptocurrency as super risky. In contrast, banks hold collateral mostly in longer-dated traditional finance bonds, and when they fail, the government still blames cryptocurrency.

Members of the cryptocurrency community weighed in on Hoskinson’s tweet, with some expressing their support for his sentiments. One member highlighted that the Federal Reserve Board eliminated reserve requirements for all depository institutions, which suggests that the government is not completely transparent about handling the financial system.

Others pointed out that while crypto is risky because centralized stablecoins still depend on traditional finance and fractional reserve banks, Cardano and other decentralized finance projects like $Djed can fix this issue. Another member joked that it is a good thing that Hoskinson and Cardano are keeping investors on their toes and keeping their investments safe.

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The sentiment among the cryptocurrency community is that traditional finance is not as reliable as it once was, and decentralized finance is the future. As one member put it, they cannot stop the slowly evolving ability of investors to hold traditional finance institutions accountable for their games.

However, Hoskinson’s tweet is a reminder that the cryptocurrency industry is here to stay and that traditional financial institutions need to adapt to the changing times. Decentralized finance projects like Cardano and $Djed are paving the way for a more transparent and reliable financial system that can withstand market pressures and government regulations.

Cardano Founder Supports Algorithmic Stablecoins 

Charles Hoskinson, the founder of Cardano, recently expressed his belief in the long-term importance of algorithmic stablecoins in fully realizing the original vision of Bitcoin. 

Hoskinson’s comments came in response to a recent tweet by Jesse Powell, the co-founder, and CEO of Kraken, who noted that the USDT stablecoin had “depegged” to the upside, currently worth 1.06 USD, while USDC had dipped to 0.89 USD.

Hoskinson responded to Powell’s tweet, stating that he still firmly believes that algorithmic stablecoins are the essential research stream to fully realize the original vision of Bitcoin. 

He further commented that banks will always let you down as long as they are fractional reserves, indicating his belief that traditional financial institutions may not be reliable in the long term.

Related Reading | Crypto Chaos Looms: IMF Warns G-20 Of Dangers In Widespread Adoption

Cardano DeFi Taps New Peak Of Over 340M, Data Shows

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DeFi activity on the Cardano blockchain is expanding steadily as evidenced by the latest TVL figure shown by DefiLlama.

For the first time, Cardano’s total value locked has reached a new all-time high of roughly $341 million worth in ADA tokens. In USD, the value comes to be around $110 million.

The sporadic growth has been fueled by leading DeFi protocols the multi-pool decentralized exchange Minswap which has topped the charts with a TVL of nearly $40 million. Next on the rankings are Indigo and WingRiders, both of which have made equal contributions of $16 million.

The accelerated growth in TVL is attributed to the hype generated by the recent launch of the DJED stablecoin which too made it in the TVL charts, occupying the fifth position.

As reported earlier by TronWeekly Djed stablecoin was launched on the mainnet after over a year of preparation and development, following a successful security audit.

The new COTI-backed token recorded an astounding 14,500% growth on the unique addresses metric, just about a week after its launch.

In addition to that, Djed requires between 400% and 800% in collateral value to be posted before it is issued to a user.

This overcollateralized mechanism is designed to stabilize the token’s value during periods of market volatility and prevent a repeat of terraUSD, the algorithmic stablecoin linked to the Terra system’s luna token, which fell in value by over 99% in May.

Having said that, Cardano like the rest of the crypto has been hit hard by the bear market of 2022 but has seen a change of fortune on its DeFi front.

Cardano’s DeFi Hit A Milestone

A few months back, the total value locked on the network’s smart contracts hit $102 million, which was its best performance in six months. 

Recently, a proposal was brought by Cardano developers to make enhancements to cross-chain functionality for decentralized finance (DeFi) applications building on the network that went live on Feb 11.

As per the announcement post, the upgrade will be initially tested in a virtual testing environment that mimics real-world performance before it is eventually released on mainnet.

Going further, the upgrade is said to bring enhanced cryptographic features to Cardano while improving cross-chain decentralized application [dapp] development on Plutus – the smart contract platform of the Cardano blockchain.

81% Of Cardano Investors Are Sitting On Losses, Worrying Trend?

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Over 80% of Cardano investors or roughly 3.5 million addresses are at a loss or out-of-the-money or sitting on unrealized losses, data from blockchain analytics firm IntoTheBlock showed.

Around 5% or 173,770 investors are at the money or breaking even on their investments, and 14%, or 682,920 are in the money or sitting on unrealized gains.

This demonstrates a troubling trend for the once touted “Ethereum killer” that is trying to gain traction in the fiercely competitive cryptocurrency market.

Over the past week, the seven-ranked altcoin lost nearly 9% of its value.

At the time of writing this article, Cardano’s native token ADA is exchanging hands at $0.33, marginally down in the last 24 hours. Its market cap stood at $11.5 billion.

It’s important to note that IntoTheBlock’s data is based on blockchain analysis and does not depend on ADA that was bought and kept on centralized trading platforms, which could significantly change the data that is already available.

Despite its recent price drop, long-term investors, on the other hand, are preferring to hold their coins for over a year.

Cardano’s Long-Term Holders Continues To Show Faith

Long-term holders of ADA are typically less likely to sell their coins during times of market turbulence, which can help keep the price stable. This is essential for maintaining the market’s overall stability since it prevents sudden price declines brought on by panic selling.

The circulating supply of the cryptocurrency falls as more people keep their ADA bags, which might perhaps result in an increase in demand for the remaining coins as well as a rise in price.

Cardano ecosystem proponents have noted that the project has a strong development team and a solid vision for the future, which might make it a powerful competitor in the cryptocurrency sector in the long run.

The ADA community anticipates the token to rise in value throughout the month of March.

That said, a top Cardano-based NFT marketplace JPG Store launched a new feature called Language Localization to scale up its site’s translations and provide broader access for global artists to create NFTs, TronWeekly reported.

JPG Store boasts of driving Cardano’s NFT industry to achieve over $470 million in total sales in just over a year since its launch, handling 97% of the current NFT volume on the blockchain. The JPG team predicts that as Cardano’s DeFi ecosystem matures, NFT trading volume will increase.

Cardano-Powered NFT Giant Launch A New Site Feature: Details

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A top Cardano-based NFT marketplace JPG Store has rolled out a new feature called Language Localization to ramp up its site’s translations and provide broader access for international artists to create NFTs.

According to the press release, the new product is part of a larger strategy aimed at attracting the non-English speaking world. Speaking of the launch, Blakelock Brown, CEO of JPG Store said,

We’re passionate about creating as much opportunity as we can for all creators. We’ve proudly paid millions in royalties to our current NFT creators, but this massive opportunity should belong to all people. Eliminating language barriers is only a small piece of our exciting plans to endlessly empower international artists and collectors alike.

“We strive to hire the best minds we can find so we’re a highly diverse team ourselves,” Shannon Brown, co-founder of JPG Store emphasized.

“We proudly come from over 15 different countries, so nurturing NFT adoption and opportunity globally is something we deeply value on a personal level, ” Brown added.

According to the P.A., JPG Shop employs a group of human linguists from several countries who collaborate with cutting-edge machine translation software to create the site’s translations.

The first languages to be supported are Portuguese, French, Spanish, Japanese, Korean, Chinese [Simp], and Chinese [LatAm].

In addition, engineers created an auto-translating Discord bot to guarantee that users of various languages experience the same superior customer assistance for which the support staff is well-known.

That said, JPG Store has propelled Cardano’s NFT industry to achieve over $470 million in total sales in just over a year since its launch, handling 97% of the current NFT volume on the blockchain. The JPG team predicts that as Cardano’s DeFi ecosystem matures, NFT trading volume will increase.

Cardano NFT Scene Is Booming

A few weeks back, amidst the price drawdown, overall NFT sales surged 36% compared to its sales from last week. JPG Store ranked sixth in sales.

This is because recent launches of Coti’s new Djed Stablecoin and Liqwid’s DeFi Lending Protocol have brought outside liquidity to Cardano. Currently, it is the fourth-largest NFT blockchain in terms of volume over the past month.

Cardano paved the way for the creation of applications for nonfungible tokens and decentralized finance [DeFi] by implementing support for smart contracts in September 2021.

Last year, NFTs were added to the Cardano blockchain, where they could be purchased and sold using the native cryptocurrency of the platform, ADA.