At the start of April the crypto market looked very healthy; the total market cap was above $2 trillion on consecutive days for the first time in what seemed like months. However, as of the 7th of April another dip has hit. Volatility in almost every major asset is to be expected by all crypto investors, but with each dip still comes disappointment. As is often the case, lulls in crypto prices are a cue for many to ‘buy the dip.’ Three cryptocurrencies that are worth looking at at this time are Cardano (ADA), Fantom (FTM), and Quitriam Finance (QTM).
Cardano (ADA) is a proof-of-stake (PoS) blockchain that makes use of a unique dual-layer structure. According to the platform’s description, it was created for “change-makers, innovators, and dreamers.” As part of its mission to spur global innovation and market improvement, Cardano has invested heavily in research and development to create a decentralised network that is scalable, secure, and efficient.
While Cardano is named after the 16th-century Italian polymath Gerolamo Cardano, the native currency of the blockchain, ADA is named after the 19th-century mathematician Ada Lovelace and is one of the cryptocurrency market’s fastest-growing currencies. ADA is the native currency of the blockchain.
After experiencing a significant increase in value this year, the token’s price is now stabilised at a $1.08 barrier level. According to cryptocurrency market specialists, the price growth rate for Cardano (ADA) is favourable and should bounce back from its current dip. A realistic short-term target for Cardano (ADA) is $1.33.
Among the most talked-about altcoins in recent months is Fantom (FTM), which has risen to prominence mostly as a result of the rapid transaction speeds it permits and the cheap gas fees necessary to utilise its network.
The fact that the Fantom network uses the Proof-of-Stake (PoS) consensus mechanism rather than the more traditional Proof-of-Work (PoW) consensus mechanism, as is the case with the Bitcoin and Ethereum networks, contributes to the network’s high transaction speed.
When compared to the PoW consensus mechanism, the PoS consensus mechanism has a number of advantages, including the fact that it is substantially faster and consumes significantly less energy than the PoW approach, all while providing similar security for network users.
Fantom has slipped slightly recently, following the departure of key developers. Most cryptocurrency analysts are bullish on Fantom’s (FTM) prospects and suggest that its current market cap is too low.
Quitriam Finance (QTM)
Quitriam finance is a newly released decentralised exchange platform with multi-chain operability, as well as an incredible ecosystem of DeFi products. It enables the creation of Decentralised Exchanges (DEX), which allow investors to trade assets across various blockchains. With its strong emphasis on decentralisation and scalability, Quitriam also enables peer-to-peer (P2P) connections with liquidity provided by other users, which the company considers a unique feature.
There are many more amazing benefits to be gained from using Quitriam Finance. This, according to the platform, is what enables investors to trade tokens at a rate of more than 50,000 transactions per second (TPS) and for less than $0.00001 per transaction.
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