This Week's News You Need To Know From the DeFi-Cryptoverse

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Cardano Summit 2021: What's Ahead for the Third-Largest Cryptocurrency

Source: Bloomberg​

Cardano, currently the third largest cryptocurrency by market cap, has announced massive plans at Cardano Summit 2021. The summit is being conducted virtually.

Photo Credit: https://coin-news24.com/​

The company's founder, Charles Hoskins, has announced that there are projects on the Cardano blockchain to improve methods of payment transfer and even the way that we vote:

Cardano’s ecosystem is working on projects from voting to payments and even ways to run the currencies of nation-states, Charles Hoskinson said in comments at the Cardano Summit broadcast Saturday. There should also be a lot of “real-life data about how to do governments differently,” he said.

“You could run a nation-state on this type of infrastructure -- not today, but in three to five years, definitely possible,” Hoskinson said. Cardano is trying to “position itself in the marketplace of ideas to be a legitimate option for at least some of these systems and some of these institutions,” he added. “People are fundamentally unhappy with governance,” Hoskinson said at the summit. “There’s an appetite for new systems, new ways of governance, new types of institutions.”

Our take: The need for full transparency during the process of elections is long overdue. Regardless of where you may stand personally on the outcome of the 2020 Presidential Election, millions of Americans are convinced that there was foul play involved. Cardano presents a possible solution to this, since a blockchain-based election would allow for a far more transparent process not just in the United States, but around the world.

New projects built on the Cardano blockchain should appear in the coming weeks. While none of what we say is financial advice, we expect Cardano to move well above its current price ($2.25) in the next few months.

Disclosure: We are invested in Cardano.

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College Athletes Launch Their Own Crypto Coins

Source: Crypto Trend Analysts

The NCAA finally has finally allowed college athletes to capitalize financially on their fame. Some are using their platforms and influence to enter into the cryptosphere in a huge way. Oregon Ducks Defensive End and NFL top prospect Trayvon Thibodeaux didn't settle for promotion of a cryptocurrency, he launced his own:

Thibodeaux cut straight to the point and started his own cryptocurrency. His crypto coin $JREAM is now available on Rally for $0.374. Just like holders of the Miami Coin get rewards in $STX (Stacks), holders of $JREAM receive weekly rewards in of the coin $RLY. Rally’s VP of partnerships, Nick Millman, had this to say:

“We’re thrilled to see young athletes exploring the ways in which crypto can facilitate deeper connections with fans. Innovators like Kayvon are reinventing how athletes and fans interact.”

Thibodeaux isn’t stopping there, he previously announced an NFT deal with Nike as well.

Our take: Thibodeaux may be the first collegiate athlete with his own crypto coin, he won't be the last. He will be joined by several other athletes in short order who will use this to capitalize financially on their athletic talents and social media influence.

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Crypto Investing Hamster Outperforms Warren Buffett and the S&P 500

Source: NPR​

We're not here to say that the "Oracle of Omaha" is losing a step but a lovable household animal with a brain about 1000x smaller than your average human's is outperforming both Buffet and the S&P 500 index.

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A lovable hamster named Mr. Goxx is out here making gains on his own personal Wheel of Fortune:

It's designed so that when Mr. Goxx runs on the hamster wheel, he can select among dozens of cryptocurrencies. Then, deciding between two tunnels, he chooses whether to buy or sell. According to the Twitch account for the hamster, his decision is sent over to a real trading platform — and yes, real money is involved... his portfolio is up nearly 20% since he started trading in June, according to his Twitter account. And as of Sept. 12, Mr. Goxx was performing better than Bitcoin, the Nasdaq 100, Warren Buffett's Berkshire Hathaway and the S&P 500.

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You can watch him live in his "office" on Twitch.

Our take: This hilarious story highlights the fact that you can make (and lose) money far faster in the cryptosphere than on the stock exchange. Yes, Mr. Goxx's crypto choices and trade decisions are completely random. Would investing with Mr. Goxx be considered risky? Of course! You'd be rolling the dice on someone who openly poops in front of potential clients. However, holding onto cash is a guaranteed losing proposition especially when you consider the recent loss of purchasing power of the US Dollar,

In fact, it is possible for anyone reading this to make returns on their crypto investment that would put Warren Buffett to shame. If you read our free eBook 9 Unusual Ways You Can Make Money With Crypto (But Can't With Cash), you already know how to make incredible returns staking crypto like Miami Coin(MIA), which is available only on OKCoin.

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We hope you enjoyed catching up on the news of the cryptosphere. Know a friend who would enjoy our weekly crypto roundup? Please send them this link.

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