Ripple (XRP) has seen a strong accumulation between the levels of $0.72 to $0.79 with Cardano (ADA) soon catching up with investors buying huge volumes near the $1 region. Cryptocurrency investors are also accumulating big volumes of Parody Coin (PARO) which is currently in the presale phase.
Long-term holders of cryptocurrency understand the importance of buying low caps along with blue-chip crypto tokens. It can be a good idea to add a penny cryptocurrency during its ICO phase and build up a strong diversified portfolio. We will discuss two established coins and a new entrant that can be good additions to your crypto portfolio.
Ripple has offered a strong fight against the SEC and it looks like the XRP token could be on the rise in the future if the case is settled in its favour. The XRP token saw a lot of downtrends as the SEC filed a case against it for offering tokens without registering as a security. However, as the case nears settlement, there is no barrier to the listing of XRP on exchanges. It might even make a comeback on Coinbase which could result in a massive price hike. Long-term holders can accumulate the XRP token for a potential rise in the future.
Cardano’s price has seen a strong accumulation between the levels of $0.79 to $0.96 over the past month. The ADA token can be a strong bet in the next few months as smart contract functionality has been enabled on the Cardano ecosystem. The blockchain network also supports NFTs and has seen some adoption from this new space. Cardano is backed by a strong scientific community and all updates are peer-reviewed before being rolled out. The Cardano ecosystem will soon include Djed, a stablecoin that will be used to make payments and transfers within the ADA ecosystem.
Parody Coin is currently undergoing its presale and the token can be bought easily after a quick registration process. The PARO token fuels the entire ecosystem of the Parody network and has a strong use case. The PARO coin will be used to pay network fees and will also be used to fuel transactions in the NFT marketplace that is currently being developed.
The PARO token is deflationary meaning its supply will reduce over time. The token provides a good source of a passive income and you need not sell it to book gains. Merely holding the token for the long term can provide an additional and passive source of income. The passive income is generated in the form of PARO tokens and also other BEP-20 tokens.
Each transaction on the Parody Coin’s network extracts a 10% fee, and 5% of this taxation goes towards rewarding holders of the PARO token.
Multi-chain and Parody Swap
Currently, most chains are independent and do not host bridges. This makes it difficult to transfer tokens on a different network. However, the Parody Coin has a built-in bridge network where you can transfer tokens to other blockchain networks. Parody Swap can also be used to convert any token into PARO easily at the click of a button.
The PARO token is hosted on the Binance Smart Chain (BEP-20) and can be purchased on PancakeSwap as soon as the launch is completed. However, you could also buy it during the presale phase to gain an initial advantage and achieve a greater profit once it is listed on various exchanges. The Parody Coin’s team has plans to complete a Certik audit soon to ensure full transparency.
A long-term investor can consider adding Ripple and Cardano at the current levels. Parody Coin could also be added to provide a good balance to your cryptocurrency portfolio.
Please check out the links below to learn more about the PARO token. The team is active on various social media channels. Please do your own research before making an investment decision.