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Is Cardano dead? Trader says Rexas Finance (RXS) could beat ADA in 2025, RXS now listed on CoinMarketCap

Published

5 hours ago

October 22, 2024

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Cardano (ADA) was at the center of interest a few years ago, but many investors now wonder if it has lost its ‘wow’ factor. The coin, which is relatively steady and has built a good system of development, reached its maximum in 2021 and has since been experiencing slower growth. However, some traders believe that Cardano isn’t over, but should not be a primary focus for traders looking at explosive long-term growth. On the other hand, projects like Rexas Finance (RXS) are emerging and a growing number of traders believe that RXS may offer more upside than ADA during the 2025 rally.

Is Cardano dead?

So, is Cardano dead in the real sense of the word? The answer is no. Despite facing declining interest over the years, Cardano has still striven to remain on course as a secure and relatively stable network. The design philosophy that underpins Cardano is very conservative, and therefore, it has been pretty slow in deploying updates and new features. Such a strategy appeals to the subset of investors who are more conservative and abhor speculation. Cardano also stands out because of its dedication to enhancing the ecosystem. Its smart contract platform allows for decentralized applications (dApps) and this still has room for growth in the years to come.However, for investors in the parabolic gains segment who are at present considering Cardanol, its relatively stagnant growth may not be the most compelling option. As of today, Cardano has lost significant ground at $0.3605, which is a 65.75% price drop since the March 2024 peak. The downtrend may be slow but that’s a far cry from the previous, and many are seeking alternative bets that are more enticing.

Why Rexas Finance (RXS) could beat ADA

The other such opportunity is Rexas Finance (RXS), a new RWA token that traders think will beat its predecessor within the next few years. Rexas Finance addresses the real-world assets market and a crypto trader says RXS ‘will have an easy time ‘ surpassing ADA this 2025 rally.Many investors already find the presale price of this token appealing as it is pegged at $0.060, which is more than 100% appreciation compared to the first presale price of $0.030. Rexas Finance has been outlined to be listed at $0.2 but could then skyrocket to $16 according to some forecasts, which would represent an astonishing 26,500% appreciation by the year 2025.

However, one may ask, what will enable Rexas Finance to outdo Cardano? A simple explanation is that this allows actual functioning in the asset class market. Rexas Finance provides a platform that enables users to purchase asset fractions of tokenized assets such as real estate, art, and other physical commodities. This means that investors will be able to access the global market for assets without barriers of geography or capital.

For instance, one person in one part of the world can, with just a few clicks, own a section of a well-appointed property located in another part of the world. This freedom provides new avenues for clients and property managers alike on how to tokenize and exchange pockets of interest in investment assets. Thanks to the efficient token builder tool that it offers, Rexas Finance can let even non-tech people securitize their physical assets without coding. It is compatible with various token standards which include ERC-20, ERC-721, and ERC-1155 making it very useful and expandable. Investors can also look for funding for their tokenized assets from the Rexas Launchpad creating a lively environment for the functional development of the ecosystem.

Tracking Rexas Finance (RXS) on CoinMarketCap

Once Rexas Finance gained some traction, it has now been included in the listings at CoinMarketCap. This listing allows investors to keep a keen eye on the price changes, their news, and the developments of RXS. Having RXS on a reputable site such as CoinMarketCap helps Rexas Finance reach a wider audience, offering investors the proper tools to manage their investments and helping them to choose proper actions.

Presale opportunity and $1,000,000 giveaway

To encourage early investors, Rexas Finance gives them an interesting opportunity to engage in its presale. As such, the project is conducting a $1,000,000 giveaway, in which 20 random participants are to receive $50,000 each.By coming on board early in the presale, there are strong possibilities to benefit from the giveaway while it lasts, and also your investment could grow with the anticipated increase in the value of the RXS token.

Conclusion

While Cardano remains a stable and secure platform, its slow growth might not appeal to investors looking for fast gains. Rexas Finance, on the other hand, offers a compelling alternative, with its innovative real-world asset tokenization and impressive growth potential. As the 2025 rally approaches, some traders are increasingly optimistic about Rexas Finance’s ability to outperform ADA, with some of the most optimistic forecasts predicting a 26,500% surge by the end of next year. Getting listed on CoinMarketCap and launching a $1,000,000 giveaway in its presale stage, Rexas Finance is positioning itself as an opportunity for anyone who’s been waiting to invest in the next big crypto.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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Why XRP Price May Witness a Rebound

Published

13 mins ago

October 22, 2024

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Ripple’s native token, XRP, is trading at its lowest point in the past week. As of this writing, the altcoin exchanges hands at $0.53, noting an additional 3% price drop over the past 24 hours.

However, BeInCrypto’s assessment of XRP’s technical setup suggests that this decline is only temporary, and the altcoin may soon experience a rebound. Here is why.

Ripple’s Selling Pressure Begins to Weaken

Despite its price decline, XRP’s Chaikin Money Flow (CMF) has maintained an uptrend over the past few days. This indicator measures an asset’s buying and selling pressure over a specified period. As of this writing, it sits at -0.10, attempting to cross above the zero line.

As in XRP’s case, when its Chaikin Money Flow (CMF) is negative but trending upward while the price declines, it indicates the asset is still under net distribution, meaning there is overall selling pressure. However, the decreasing intensity of this selling suggests the bears are weakening, and bullish interest is starting to build.

XRP’s positive funding rate, which stands at 0.01% at press time, reflects the bullish bias that the altcoin enjoys despite the dip in its value.

The funding rate is a periodic fee used to keep the price of a perpetual futures contract aligned with the spot price of the underlying asset. When the funding rate remains positive even as the asset’s price drops, it signals that most traders are still bullish, betting on a price recovery despite the ongoing decline.

XRP Price Prediction: A Seven-Month High is at Hand

XRP is currently trading at $0.53, holding just above a key support level of $0.52. A resurgence in bullish sentiment could drive renewed demand for the altcoin, potentially triggering a rebound.

Should this happen, XRP’s price may attempt to break through resistance at $0.65. If successful, the token could rally further, eyeing its seven-month high of $0.74.

However, if the downward trend persists, the bulls may be unable to defend support at $0.52, and XRP’s price may drop to $0.38, invalidating the bullish prediction above.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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BitFuFu Acquires 80MW Bitcoin Mining Site in Ethiopia

Published

1 hour ago

October 22, 2024

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BitFuFu, a cloud miner partnered with Bitmain, acquired an 80-megawatt Bitcoin mining facility in Ethiopia. This purchase is part of an overall strategy shift from BitFuFu, with more global presence and direct asset ownership.

The Grand Ethiopian Renaissance Dam (GERD) is Ethiopia’s most popular destination for miners, but BitFuFu has not confirmed the site will be here.

BitFuFu’s Ethiopian Strategy

BitFuFu, a Singapore-based cloud mining company partnered with Bitmain, announced in a press release the acquisition of an 80-megawatt Bitcoin mining facility in Ethiopia. Bitmain, an early investor in BitFuFu, has been significantly expanding its Bitcoin mining investments this year. According to the press release, BitFuFu is “Bitmain’s sole strategic partner in the cloud mining space.”

This facility will be a substantial expansion to BitFuFu’s mining capabilities. Before this, most of BitFuFu’s infrastructure was based in the United States and hosted by third-party providers. The new facility will boost BitFuFu’s capacity by 13%, aligning with the company’s shift from an “asset-light” strategy to owning a more diversified portfolio of mining assets.

“This acquisition is a critical milestone as we work to vertically integrate and transition towards a more diversified and resilient portfolio of Bitcoin mining sites. As we integrate this facility into our global infrastructure, we can capitalize on lower energy costs to reduce Bitcoin production expenses, expand our operational capacity, and enhance profitability,” said CEO/Chairman Leo Lu.

Ethiopia has emerged as a popular destination for Bitcoin miners in recent years, particularly attracting investment from Chinese firms following China’s 2021 mining ban. The key draw for these investments is the Grand Ethiopian Renaissance Dam (GERD), a vast hydroelectric facility that offers ample power supply, making it appealing for Bitcoin mining operations.

Ethiopia's Massive GERD Investment, Visualized — Ethiopia’s Massive GERD Investment, Visualized. Source: France24

Despite the Grand Ethiopian Renaissance Dam (GERD) being a growing hub for international mining in Ethiopia, BitFuFu has not confirmed that its new facility will be located there. Given Ethiopia’s limited electrical grid, GERD seems like the most viable option for large-scale mining operations. Additionally, with BitFuFu’s strong business ties to Chinese firm Bitmain, the connection to GERD appears likely, though the company has yet to officially disclose the location.

In any case, this major acquisition in Ethiopia will significantly boost BitFuFu’s global presence and strengthen its competitiveness in international markets. While the company’s press release did not reveal the price of the new facility, the purchase is positioned as the first step in a broader strategic expansion.

“Moving forward, we aim to strengthen our global position by acquiring or building additional facilities and drive further innovation in the digital asset mining sector while delivering long-term value to our shareholders,” Lu stated.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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This is Why UAE’s RAK DAO Is Key for Crypto Growth

Published

2 hours ago

October 22, 2024

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The United Arab Emirates (UAE) has introduced a structured legal framework for Decentralized Autonomous Organizations (DAOs) through the RAK Digital Assets Oasis (RAK DAO).

This initiative highlights RAK DAO’s commitment to creating an environment where decentralized organizations can flourish. It marks a significant move to bolster the region’s position as a global hub for web3 innovation, with crypto-friendly policies enabling the course.

UAE’s New DAO Law Empowers Crypto and Web3

It comes as RAK DAO, a UAE-based Free Zone dedicated to digital asset companies, launched its DAO Association Regime (“DARe”). The DARe framework is particularly noteworthy for its tailored approach, offering two distinct models: Startup DAO and Alpha DAO.

The Startup DAO model caters to emerging projects, accommodating organizations with fewer than 100 members. It aims to simplify regulatory processes, allowing new ventures to focus on growth and development within a flexible legal environment. In contrast, the Alpha DAO model targets more mature DAOs with treasuries exceeding $1 million. Specifically, it provides them with the necessary support to scale their operations efficiently.

Dr. Sameer Al Ansari, CEO of RAK DAO, articulated the importance of this new regime. He also highlighted essential features such as the provision of a separate legal identity and limited liability for founders, contributors, and members. Similarly, Luc Froehlich, Chief Commercial Officer of RAK DAO, echoed Al Ansari’s sentiments.

“The introduction of DARe represents a stepping stone in our journey towards building a global hub for the blockchain and digital assets ecosystem. By offering a structured legal framework, we enable DAOs to interact with the off-chain world, such as opening a bank account and owning both on- and off-chain assets. This legal wrapper will also allow DAOs to signal and raise their credibility amongst peers, members, and investors,” Froehlich added.

Taken together and combined with the specific legal clarity and tax optimization, this development reflects the UAE’s and RAK DAO’s commitment to embracing novel technologies and fostering the blockchain ecosystem.

UAE as a Leading Destination for Crypto Firms

As the global space for digital assets continues to grow, the DARe framework positions the UAE as a leading destination for crypto-related ventures. The regulatory clarity and support provided through DARe could attract startups. Nevertheless, it would also set a new benchmark for other jurisdictions around the world.

Comparatively, while the UAE is advancing its regulatory frameworks to encourage Web3 and digital asset innovation, Italy has recently made headlines for its capital gains tax on cryptocurrencies, which could deter investment in this growing sector. Italy’s approach, focusing on taxation rather than fostering innovation, contrasts sharply with the UAE’s proactive stance in establishing supportive regulatory frameworks. This comparison highlights the differing priorities of these two nations.

In the UAE, the emphasis is on attracting and nurturing blockchain ventures, whereas Italy’s tax policies may complicate the sector for digital asset companies. This could limit their growth and development by inspiring “capital flight.”

Moreover, recent legal changes from Dubai’s Virtual Asset Regulatory Authority (VARA) highlight the UAE’s focus on creating a favorable regulatory environment for virtual assets. These changes are poised to enhance operational frameworks for digital asset companies, further cementing the UAE’s commitment to becoming a global leader in blockchain innovation.

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