The cryptocurrency market has experienced significant fluctuations over the past few months, with various projects and platforms vying for attention and investment.
As market dynamics continue to evolve, developers and investors are constantly seeking innovative opportunities that offer both growth potential and financial incentives.
In this article, we will discuss the benefits of Algotech’s platform, and explore how it is attracting developers from Cardano (ADA) and Cosmos (ATOM) with its innovative revenue-sharing model.
Cardano skyrockets 300% after inflows
According to the latest CoinShares weekly report on crypto-related ETF inflows, an additional $245 million flowed into the market last week. This brings the year-to-date total to a positive $20.48 billion.
Bitcoin, the largest cryptocurrency, continued to lead the way, with several ETFs from major financial institutions such as BlackRock and Franklin Templeton. Over the past seven days, these investment vehicles have seen inflows of $519 million, accounting for a substantial 97.9% of all crypto-related investment products during this period.
However, other digital assets also demonstrated significant momentum in terms of inflows, even if they didn’t match Bitcoin’s volume. Notably, Cardano (ADA) stood out with inflows into Cardano (ADA) ETPs reaching $1.2 million last week—a remarkable 300% increase from the previous week.
This impressive performance places Cardano in second place among all crypto ETPs. Since the beginning of 2024, Cardano (ADA)-oriented investment products have attracted $11 million from traditional investors.
Cardano’s upcoming chang hard dork
The surge in interest and inflows for Cardano (ADA) can be attributed to the upcoming Chang hard fork. As reported this hard fork is anticipated to bring ultimate decentralization to the Cardano (ADA) blockchain. One of the most significant changes will be the management of the blockchain’s treasury through voting by Cardano (ADA) stakeholders.
Additionally, the adoption of the Cardano (ADA) Constitution will solidify the principles and rules of decentralized governance for the blockchain.
Cosmos: Solving blockchain’s biggest challenges
Cosmos (ATOM) positions itself as a solution to some of the “hardest problems” in the blockchain industry. It aims to address issues associated with “slow, expensive, unscalable, and environmentally harmful” proof-of-work protocols, such as those used by Bitcoin. Instead, Cosmos (ATOM) offers an ecosystem of interconnected blockchains designed to be more efficient and sustainable.
One of the project’s primary goals is to simplify blockchain technology for developers by providing a modular framework that makes building decentralized apps more accessible. Additionally, Cosmos (ATOM)’ InterBlockchain Communication protocol facilitates communication between different blockchain networks, reducing industry fragmentation.
Cosmos (ATOM) traces its origins to 2014 with the founding of Tendermint, a core contributor to the network. A white paper for Cosmos (ATOM) was published in 2016, followed by a token sale in 2017. ATOM tokens, which are earned through a hybrid proof-of-stake algorithm, play a crucial role in securing the Cosmos (ATOM) Hub, the project’s flagship blockchain, and in network governance.
Currently, the price of Cosmos is $6.29 USD, with a 24-hour trading volume of $100.1 million USD. Cosmos has seen a 1.22% decline in the last 24 hours. It ranks #38 on CoinMarketCap, with a live market cap of $2.46 billion USD. The circulating supply is 390.93 million ATOM coins.
Algotech lures Cardano and Cosmos developers with revenue sharing
Newcomer platform Algotech (ALGT) is drawing significant attention from developers on Cardano (ADA) and Cosmos (ATOM) with its unique revenue-sharing model. Investors are closely monitoring Algotech, which has already raised nearly $10 million in its presale, reflecting strong confidence in the platform. Projections suggest that ALGT could reach $1 shortly after its official launch.
Algotech is capitalizing on the rapidly growing algorithmic trading industry. Algorithmic trading, or algo trading, uses computer programs and predefined rules to automate trading decisions, eliminating human inconsistencies and biases.
Algotech offers a decentralized algorithmic trading platform, providing transparency and accessibility through blockchain technology. Traders can utilize various algorithms, automated strategies, and risk management tools tailored to their risk tolerance.
With Algotech, traders can backtest strategies on historical data before deploying them live. Once a strategy is selected, Algotech’s advanced algorithms execute trades automatically based on predefined rules, making high profitability accessible to a broader audience.
For more details about Algotech:
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