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Unsure if anyone else is present... LSE board not great for Crypto
Cardano projects building out nicely. Shame I don't have any more cash to inject, would really like to increase holdings in GENSX, GENS, MIN, NMKR, WMT, etc
@Cooper: Gutted I never bought MILK after raising last year. It's gone around 4,500% :( Only have small holdings, but anticipating several of these to at least 10x in the next bull run
Interesting, interesting... ADA looks like it's trying to break out of depending pattern formed since last October on the daily chart. A daily close above the 20MA (daily) would be taken as a high possibility of a strong bounce. A weekly close at $0.5+ would also suggest good bounce incoming. I'd expect initial resistance around 50 cents, with that being where the 50 day MA is heading down towards. Assuming that breaks, 65-70cents this month looks v likely. That being the depending 100 day MA, previous peak high, and depending 20 weekly MA
If it were simply down to technicals, this looks positive
Unfortunately, high chance this will be short lived. Until recession fears are calmed and wider markets stabilise, we could still be in for a rough ride. Let's see. Excellent time to observe with a bag, yet have a little extra cash available just in case
Again, technical call out for BTC at 21/22k achieved, with a dip actually slightly below the level that quickly got bought into. Good probability for the lows to now be cemented and used as base. Difficult to say for sure.
Cardano performed better than it could have. Rather than a further dip like other coins, ADA appears to have formed a double bottom and is beginning to signal a trend reversal. Certainly not out of the woods. Expect turbulence
I was considering a significant top up to around 100k ADA if we went to sub 30 cents. Doesn't look like that will happen now ... unless things unexpectedly continue to deteriorate. For now, I personally anticipate quite wild fluctuations with rapid climbs followed by some steep drops. Adding at sub 50 cents may be as good as can get. Personally not going to go all in as things can always turn. I've sufficient in here to be happy wherever this lands in a few years time. That way, still reserving a few pennies should the unexpected happen and op for lower price materialises.
All the best to hodlers, long and new. Cardano is just getting started and looking forward to the next bull run, whenever that will be
I quote my post from 11th April:
"For the near term, I'm personally anticipating a further drop to around $0.5 (weekly 200MA). Bitcoin is obviously dropping down towards either support around 30k, its 200MA weekly or 50MA monthly. ADA will drop with it me thinks"
Despite the headlines, this was obvious
Interesting to see what happens from here. BTC does have potential to drop to 26k (the 61.8 fib) or 21/22k which would be the 76fib, 50 MA monthly support, near previous ATH support AND the critical juncture where big players like MicroStrategy will be seriously adding to avoid crippling scenario... Classically trading comes in 3 candlestick formations, so further lows this month quite possible, with a bottom next month. Let's see
What this means for Cardano? Hoskinsons comment on bear market the other day didn't help the immediate term. Maybe stabilisation and rise in June with the next update?
If we get down to 30 cents again, I will be buying more for sure. Let's see
Thanks a lot JTS! Appreciate your thoughts here :-)
Hi Bobbie, Sundaeswap launch appears to have been very poorly managed. The delays were expected and coin price was always going to drop after the hype the project had received, but the public fallout around the launch was terrible for the project. Minswap has since come on scene and already attracted significantly more attention + trading volume (a key metric to look into is 'TVL'). Ultimately it's all new, so platform performance will be highly volatile over the next 6-12 months. Apparently there're around 500 projects being developed at the moment, with several hundred of them expecting to release mid-summer when the next major update comes out.
Just personal opinion, but I wouldn't expect big returns from Sundae or Min. If you take a look at the equivalent of their market cap upon full dilution, Sundae is almost $0.4bn and Min is about $0.9bn... Given that Uniswap is a beast in comparison and just $6.5bn, Cardanos DEXs are either priced at future usage 1+ year from now, or they are vulnerable to further decline.
The nature of cardano's ISPO presents a drop on ADA price, but also a volatile entrance to market for any new project as many holders ditch at first opportunity. It's a safer model/approach, and probably better for a multi-year long term outlook, but not amazing for price performance in the short (i.e. few months) window.
I'm quite intrigued by the metaverse space. Cardano has several projects who've come out but not fully launched yet. People who bought early are selling out of boredom, but this is a space that will likely go through revolutionary change / growth in the next 6 months...
Ultimately, we are still near the beginning of everything. Therefore there are lots of op's to have, but I'd be weary of buying into things that are priced ~half a billion dollars when they have only just launched
I see Sundaeswap has now dropped below $0.2……looking for an entry point. Do we think this will recover after a rocky start since launch or are/will there be other better DEXs on the Cardano platform? TIA for your views. BD
@Milkytray, a FTSE trading platform would be a massive boost. It would push crypto more into mainstream investment decision making, and make it considerably more accessible to your average Joe who is weary of high entrance fees. Whilst already legitimate, it would bring a major correction to image in the mainstream also, another plus
On another note, I think big investors have been driving ADA down for a while. It was having 10s of billions in $s transaction per day, far exceeding Bitcoin & ETH combined. Yet average trade was around $40k. That's II activity! Assume it was the recently launched funds driving things down to get their entrance
For the near term, I'm personally anticipating a further drop to around $0.5 (weekly 200MA). Bitcoin is obviously dropping down towards either support around 30k, its 200MA weekly or 50MA monthly. ADA will drop with it me thinks
Would love to be wrong. Not selling anything cause long term is golden regardless, but I'm not putting in any new cash until charts appear oversold on the monthly
pardon my ignorance , but the ftse trading platform , that will include alternative cryptos, so will that not move people away from the existing cryto's?
JT
Yeah, it's always the same. Timing is just luck for the best part. The thing is. In terms of crypto we are still early. London Stock Exchange just purchased a trading platform to push their Digital currencies drive. Can you imagine what happens when that's up and running fully and being promoted in the UK? Not only that other countries will follow as they won't want to miss out.
I think the mother of all pumps will come in the near future
https://cointelegraph.com/news/london-stock-exchange-acquires-cloud-based-technology-provider-tora-in-325m-deal
@ Bobbie, just search on youtube and there are several videos walking you through the steps. Didn't watch through this one, but a quick glance looks like it does: https://www.youtube.com/watch?v=HqeXOQUWt1Y
That's using Yoroi. It's basically the same process on Daedalus
@Michael, snapshot is taken at the beginning of every epoch (i.e. 5 days) over 5 epoch period. If you miss the first couple, you can still receive rewards for the last few. Equally, given the hype over sundaeswap, I personally don't expect much reward from this. Most of the pools are oversaturated and the rewards are probs going to be shared across a significant proportion of the cardano community who are trying to get in on this.
@Cooper, managed to get crypto.com to work now too and have synced that up with my Yoroi wallet. Think it's a little under 3% to buy on Crypto.com and then a fraction of an ADA to transfer to chosen wallet... I bought most of my holdings in Q1 last year. A lot went up, but with ETH fees going over $1000s and whatever else, didn't bother selling. Should have taken the hit with the fees though as holdings have dropped $50k or so since then.
TBH, wish I'd started my crptyo journey just 2 weeks before I did. Started reading into it in Dec 20, but didn't really start buying until mid-Feb. ETH+ADA prices had already multiplied several fold in those few weeks. Would have made significant difference to where things are today - but can't always get what we wish for
i was hoping you could plz tell me: i currently have all my ADA delegated to one pool via yoroi. i want to create several wallets (which i can do) but im unsure of the consequences with regard to undelegating. as i have only one wallet currently, i need to undelegate to distribute my ada across different pools. i had to wait 4 epochs before i got rewards when i first delegated, does that mean i have to start all over again i.e do i lose reward continuity or does it recognise the time i had staked , so as i will redelegate instantly, the lost staking time will be negligible. also, im nervous about the sundaeswap token drop... firstly, when was the snapshot date and if i move my ada now, will that affect my sundaeswap allocation. cheers
Hi Guys
Sorry for a "noddy" question.....but what is the simplest/best way to get Sundaeswap?
TIA
Bobbie
JT
Yeah it's clunky as hell still and that's with the amount of mass adoption. Best using coinbase for fiat to crypto. Google apparently done a deal with coinbase and bitpay to allow users to hold crypto with Google cards. If this does indeed happen it will be another huge leap forth.
Sundaeswap launches tonight.
Wmt now doing well 85c so 350% up from my initial stake of 100k tokens @ 20c plus I have 20k rewards built up now on top but can't access 18k of them till April.
Meld will launch on 31st of Jan which I have 100k and one Diamond hands NFT and one Bank manager NFT which gives you additional % value when using the platform. This actually makes the NFT rather valuable, I hope to see them fly.
Think I mentioned Yeildly finance to you before on the algo chain? I have 2.1 mill of them and they have now launched on a separate chain as a separate business and tried to pretend it will be good for investors. It's not good for investors as I've gone from $50k down to $30k but all is not lost. They still continue on both chains and the roadmaps are still being fulfilled at this point but I imagine soon a choice will be made and we will get bumped. I will hold for the next pump and then out lol risky business I know.
Just bought into a new IDO on Algo chain called Zone...gaming crypto with big potential. IDO goes live at 3pm today and it's first come first serve. I'm chucking $5k = 3500 algo as that's the maximum you can get. Could be a good project and worth having a look.
Still got my ada and my algo and hoping for a big pump between now and through spring
Hope you're making money and winning. it's a bloody roller coaster!!!
Have tried to purchase some crypto from fiat for first time in about a year... it is unbelievably difficult! Tried 4 exchanges. Bank has blocked them all! Ended up using the direct purchase function offered on Yoroi via Changelly. ~10% fees to buy some ADA. Crazy!
Besides the frustration, it does make one think.... Crypto has performed so well during 2021 despite all of the * thrown at it by the traditional financial sector + policy makers. Once ease of use is genuinely available, just imagine how huge this is going to be
Hey Cooper, I'm expecting there to be quite a few spikes / FUD around several of the launches. For example, Sundaeswap has so much attention, that it will likely launch with a market cap equivalent of a few $billion. Thing is, there'll be so few plays about for the next couple of months that transaction volumes on the exchange are unlikely going to merit the initially high price. Quite likely to have a chance to buy in cheaper late Feb / early Mar I'd expect (I also see BTC dropping this month to give the classic '3 candle' signal prior to a bounce). Similar thing with WMT with a market cap of around $1bn even AFTER the drop. LIQWID is currently trading for $26, giving it a market cap of around $0.7bn which'd make it top 125 cryptos globally, even though it's not officially launched... Could you imagine what these would be valued at on conventional markets?
May be wise to remain picky amidst the hype ... could be wrong though. Who knows
JT forgot to mention. You might already know but sundeswap announced it's ISPO partners so if you stake your ada with one of them you get SS tokens. They just completed their security audit and are getting ready to rock n roll. I'm staking my ada and will be looking to buy too once the Dex launches
JT
Hit or a miss I guess with Muesli swap but save your money for sundaeswap. I think that runs away as the number 1 Dex on cardano.
One other one (@liqwidfinance) which will be huge but more of a lender than a Dex although they have links to sundaeswap via some sort of tie up which I've not looked into. I'd defo be looking to get in the action if possible.
WMT launched at $1.25 and fell down to 45c due to shenanigans from the CEX executing order before there was any liquidity. Got bumped out of a 500% rise from the TGE but still sitting on $30k profit but should have been $105k profit. It will turn round though in the new year. The corruption in the space is unreal but it's the risks we take for the reward.
Hm... well, already up over 200% now
Oh well
Indeed, I have avoided it as it looks underdeveloped
Equally, being the only dex, I see it gaining momentum quite quickly which is also reflected by the 100% increase in MILKS underlying price since end of last week... with an mcap of around 5mill$, can see it being an easy 10x from here even if it doesn't perform well
Haven't bought cause it does look rather poor... if they do build it out to include launchpad etc, would have potential. Wonder if latter releases like sundaeswap will just consume the market though when they launch
Good job with WMT. Valued around 0.8$ a coin atm
JT
Muesliswap looks like a poor mans Dex. Lots of guys in the $WMT forum have said it's pants.
WMT listing on the 23rd of December. I got 100k in the TGE. Hope to see some fireworks.
Anyone any thoughts on MuesliSwap? (ie. first launched Cardano DEX)
I’ve been snapping ADA up from $1.73 down to present levels, might see a <$1, considering what’s in the pipe line hold and reap the rewards first target $10 .
If you buy cardano. Take it of the exchange and stake it in your wallet. It's better than trusting an exchange with your crypto. If you Hold it in the official cardano Daedalus wallet and stake it in one of the stake pools you will automatically accrue rewards at a rate of about 5.5% which is paid out every Epoch (5 days)