Crypto winter 2022 is rough…but let’s look at the bigger picture here. This isn’t the first crypto winter to happen to the market and this isn’t the first time Bitcoin (BTC) has free fell, in actuality, the previous crypto winters are what created more money for everyone. Ethereum (ETH) for example was made during a down cycle and is one of the best cryptocurrencies of all time.
This means cryptocurrency can persevere if its platform is built to last. Today we bring you Mehracki (MKI), Ripple (XRP), and Cardano (ADA) – cryptos that are ready to tackle crypto collapse.
This cryptocurrency is a community-led platform designed to give its users the final say on key changes in the platform. It is meme-based just like Dogecoin (DOGE) but what differentiates it is its real-world functions and abilities. Shiba Inu (SHIB) has decided to revamp due to criticisms that Mehracki (MKI) has already recognized and addressed.
This platform seeks to make people use its Mehracki Token (MKI), a utility token native to it that’s on presale, to get rewards, stake, do yield farming, and join a decentralized autonomous organization (DAO) where they can control the platform decisions.
It has incentivized adoption, what happens in most cryptocurrencies is that generally there is no incentive, which leads to a lack of enthusiasm for promoting adoption. Mehracki (MKI) has this figured out with its incentives for adoption, it also gamifies milestones for higher loyalty!
Mehracki (MKI) is unique in its utilitarian structure and the utility is critical to whether or not the token succeeds as blockchain technology is becoming popular and a more congested market.
The Mehracki Token (MKI) doesn’t only verify, but also authenticates transactions happening within its blockchain. It acts as a unitary value exchange for hospitality organizations and customers to interact.
Mehracki Token’s (MKI) has a total supply of 100 billion, a maximum of 36 percent will go to presale and each token will cost 0.000056 dollars in the current presale. Head to the platform’s website and see if this token is for you before its official launch on the 22nd of August 2022 when it will sell higher.
Ripple (XRP) is a blockchain that is a digital payment platform and a cryptocurrency that makes transactions productive. It launched in 2012 and its main goal was to achieve a payment settlement asset exchange along with a remittance structure.
In a way, Ripple (XRP) is like the current banking SWIFT method that lets users conduct secure and international money transfers. Using Ripple (XRP) means saving costs because the brokers in the traditional banking system won’t exist here to cause unnecessary steps.
Ripple Token (XRP) is native to the platform and it works with the ecosystem’s XRP Ledger (this is a kind of blockchain). It uses the XRP Ledger Consensus to securely execute and validate transactions. This allows it to conduct processes securely and quickly in a different way. This token can potentially overcome the crypto collapse and is one to consider.
The next token to potentially resist crypto collapse is Cardano (ADA), a decentralized third-generation blockchain that employs the PoS (Proof of Stake) consensus mechanism. This platform is made to work better than PoW (Proof of Work) consensus mechanisms like those used by Bitcoin (BTC). This means faster transaction speeds, less energy, and costs for the user. Cardano (ADA) is what powers the ecosystem allowing it to execute its features.
Cardano (ADA) is excellent at traceability and identity managing. Identity managing is employed to streamline and make easy the processes that demand the collection of data from different sources; whereas traceability has its merits in tracking and auditing a product’s manufacturing procedures from the point of origin to the final stage. This can help users remove counterfeit products from the market which is always a good thing. With these aspects in play, ADA really could be a good option for the bear market.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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