The hard fork of ADA has just launched the 12th of September which is the reason you think of a new ‘baby ADA’ token. This new token is created to reward holders in cardano and the rewards are calculated by the amount of ADA CASH you hold. To qualify for the rewards, you need to have at least 200 million tokens in your wallet. It already went 18x, so now is the question is there room for more?
Relation to BTH?
We all know bitcoin cash did it first in 2017 with their new hard fork they made another token with the purpose of creating a token on the bitcoin blockchain where it could be used for spending. The difference between bitcoin and bitcoin cash is that bitcoin cash allows larger blocks in its blockchain than BTC, which will speed up the transaction process. In 2017 1st of August bitcoin holders got 1 bitcoin cash for each bitcoin. The price of one bitcoin at the time was $2800 and the price of 1 bitcoin cash was $276. The price of BCH is currently sitting on $517. In 4 years, the price hasn’t even doubled, in crypto this would be considered as a very bad investment. Hearing the name ADA CASH you would immediately think it’s the ‘baby coin’ of ADA, just like with bitcoin cash is the baby of bitcoin. ADA CASH is not made by the ADA team and has nothing to do with the ADA team.
How does ADA CASH work?
Every transaction on ADA CASH has a tax rate of 15%, these tokens will now be contributed to a big pool for liquidity (3%), holders (10%) and marketing (2%). As holder you will get ADA-peg every 60 minutes automatically. So basically, it’s using the same token metrics as safemoon. It’s using the BEP-20 network and you can buy it through pancakeswap with this contract address: 0x651a89fed302227d41425235f8e934502fb94c48
The coin has currently 7000 addresses and there are no whales. This is very important for the future of the token. The team has already started their marketing campaign and they are steadily growing. They will start the big marketing in Q4 paid by these transaction fees. It has a locked liquidity of minimal a year to provide holders with peace of mind that the token can always be sold. I don’t think we are looking at a scam token, but always do your own research. I will be updating this coin and remember if whales get in, we can get rug pulled. I don’t think we are looking at a coin who can make the same rises as safemoon. But I’d think it’s something original, unlike the other shitcoins. This because the coin has a good name. Just like safemoon, when people heard about safemoon the first thought which came in mind was: ‘well this sounds nice, it’s bringing me safe to the moon. Now if people hear about another name like this, for example safemars or eclipse, they think yeah it isn’t original anymore, so it won’t rise. When I heard about ADA CASH I thought about a ‘baby coin’ of ADA which was part of ADA itself, just like bitcoin cash. This can trigger investors to buy the token, because they relate it to ADA which skyrocketed this year.
If you want to invest in a low cap coin like this, you should always invest what you can afford to lose. For me personally I am going to invest a small amount and I will sell a couple days after some whales arrive.