The latest research into Australians’ investments shows that 5%, or over a million Australians aged 18+, now own at least one crypto. Leading cryptocurrencies include well-known Bitcoin and Ethereum and more niche names such as Cardano, Ripple, Shiba Inu, Dogecoin, Binance Coin, Solana, Cronos, Litecoin, and Polygon, and many more.
Interestingly, over two-thirds, or around 742,000 (69%), of Australian cryptocurrency investors, are men compared to only 332,000 (31%) women, which indicates a significant gender difference in investments in cryptocurrency.
Even though they are less likely to be crypto investors, older Australians aged 35 and older are still important parts of the cryptocurrency market in Australia due to the size of their average investments.
Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200. This average investment size means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion – higher than any other age group and over 35% of the total market.
On a global scale, Australians are crypto enthusiasts. It is more bullish on cryptocurrencies than most other countries around the world. One of the major reasons behind it might be the country’s government and regulators being seemingly open to crypto and blockchain industry growth.
The most popular cryptocurrency in Australia is bitcoin. Almost 9% of the population owns BTC, which has fallen from 13% since the beginning of the year. Bitcoin’s declining usage points toward the increasing investment in other cryptos like Ethereum, Cardano, dogecoin, and bitcoin cash.
If you are a fanatic and would like to buy bitcoin in Australia, there are some measures that you should take into consideration beforehand. As we already know, the crypto market is risky, and you can easily lose your capital if you don’t know what you’re doing. Therefore, before investing your money into bitcoin or any other crypto coin, make sure to get familiar with it and research the most affordable and trusted ways where you can get the coins.
List of the 5 most popular crypto coins in Australia:
Bitcoin is by far the most promising long-term crypto investment. In addition, it is the pioneer cryptocurrency originally designed to replace fiat currencies and has been adopted as a store of value against traditional investments. However, even with its massively volatile price action, it has won investor interest, as evidenced by the rising Bitcoin dominance.
Through its overall up-trending price action, Bitcoin has shown its resilience. Therefore it is the most valuable crypto and has also survived bans by the national governments and mounting criticism from the political class, banking industry, mainstream media, and environmentalists. Granted, some of these made it stumble, triggering highly volatile market crashes. But BTC always recovers, which is a testament to its resilience and reliability as a long-term investment.
Other factors that make Bitcoin a good long-term buy include addressing a real and urgent global inflation problem. As these developments evolve, Bitcoin’s value is expected to continue rising. As a result, some optimists are confident that BTC will break above $1 Million by 2030.
Ethereum was launched in 2015, and 7 years later, it has turned into the largest smart contract platform. In addition, it is also the largest DeFi platform and is home to most emerging crypto technologies.
Ethereum has turned into the internet of blockchains. This is enough for us to include it on our list of the top long-term investments for 2022.
At the moment, at the height of a contracting crypto market, Ethereum’s ROI exceeds 650000%. The platform has outperformed Bitcoin as one of the most used blockchain technologies. Over the next few years, crypto analysts are convinced that ETH will overtake Bitcoin as the most valuable cryptocurrency.
It will also be made possible by developing Ethereum protocols, including Layer 2 and sidechains. These will have the net effect of pumping up the demand for ETH tokens against a slowed-down supply. As a result, These will help ETH resume and surpass its all-time-high, further confirming why it is a good long-term crypto investment.
Ethereum is a choice of program developers because of its potential uses, like so-called smart contracts automatically running when conditions are met and non-fungible tokens.
Ethereum has also experienced remarkable growth. Thus, from April 2016 to the beginning of June 2022, its price pushed from about $11 to over $1,800, increasing by almost 16,300%.
Solana is the fastest-growing smart contract platform. Even though it has been around for two years, during this period, its popularity and user base swelled, developer activity on the network rocketed, and SOL token prices shot up by more than 13000 times. As a result, its market cap peaked above $78 Billion, and the Solana ecosystem grew exponentially. Moreover, it has not shown any signs of slowing down its mission of defeating Ethereum as the most useful and preferred smart contract platform.
Solana is on a mission to establish its blockchain’s sustainability and confirm its future. As a result, it allows developers to make and launch Web3 apps and programs, hosts dozens of decentralized exchanges and is home to several dApps and DeFi protocols.
When it launched in 2020, SOL’s price started at $0.77. By early June 2022, its price was around $40.58, a gain of more than 5,100%.
Cardano is presently the largest smart contract platform and one of the fastest-growing blockchain technologies. But more importantly, Cardano is arguably one of the most secured blockchains, noticing that both the Cardano blockchain and integrated protocols are comprehensively researched and peer-reviewed. This level of security proves Cardano’s blockchain and confirms its sustainability, which is the main reason why we add it to the list of the best long-term crypto investments.
But the Cardano development team is looking to make their blockchain more than sustainable. They are looking to make it usable. To achieve this, Cardano is on a mission to integrate as many emerging technologies just like its competitors – Ethereum and Solana. It has already integrated smart contract technology, launched an algorithmic stable coin, and is working on integrating DeFi, dApps, and Web3 technologies.
Cardano has become among the most active crypto assets in the crypto world over the past year. Moreover, the price of the all-time high ADA coincided with the launch of the hard-fork Alonzo in early September 2021.
After hitting an all-time peak in September 2021 at USD3.03, Cardano’s price continued to decline, and there was a sideway in October around USD2. Then on November 10, 2021, the value of ADA decreased until it finally broke out.
Wallet Investors view Cardano as a solid short-term and long-term investment. They predicted that Cardano could reach USD3.10 within a year and USD10.46 after five years.
Litecoin is usually referred to as digital gold. Besides the fact that it shares many similar attributes with Bitcoin, Litecoin is one of the oldest crypto assets in the market that exists in the top 10 cryptos by market cap. And this alone gives Litecoin an awesome guarantee as an investment and excellent lasting power when it comes to the fast-paced crypto market.
Litecoin’s code is almost identical to Bitcoin, including both a fixed supply and an LTC block reward like Bitcoin. Also, like Bitcoin, the Litecoin network is powered by proof of work consensus.
Developer activity persists to be strong with Litecoin. It was among the first to incorporate segregated observers and is often a testbed for Bitcoin development.
Litecoin’s close relationship to Bitcoin and its digital absence makes it especially valuable. On-chain activity shows a healthy Litecoin network with over 100,000 active addresses and processing roughly 40,000 transactions every 24 hours.
Investing in Litecoin, like other cryptos, can be done either by mining or purchasing LTC online in a few simple clicks on a crypto trading platform or exchange. Once you have Litecoin, you can decide between the various ways to invest in crypto.
So, here is the list of the best 5 cryptos which are widely popular and consumed in Australia. Even though Bitcoin has gone through severe oscillations in price, it still managed to be the number one choice among Australians. Like Bitcoin, Ethereum and Solana are also widely popular and probably going to stay on the top tier list for a long time.
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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