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Analysts Explain Why Investors Are Dumping Cardano (ADA) for Pandoshi (PAMBO) in 2024

Analysts Explain Why Investors Are Dumping Cardano (ADA) for Pandoshi (PAMBO) in 2024

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As the crypto market recovery of 2023/2024 continues, investors are searching for promising projects that can weather the storm and thrive long-term. Pandoshi (PAMBO) is one such project. Despite being relatively new, Pandoshi has performed admirably, attracting investors even from established industry players like Cardano. 

The Fall of Cardano

Once an investor favorite, Cardano (ADA) has fallen out of favor with the crypto community. After reaching an all-time high of $3.10 in September 2021, ADA has plunged over 84% to current levels of around $0.49.

Making matters worse, Cardano recently experienced a spike in its 90-day Mean Coin Age (MCA), suggesting long-term holders are leaving the project. The MCA focuses on long-term holder behavior, which tracks general network activity. High MCA values indicate investors are relinquishing their tokens' custody and planning to sell or move into other assets.

This selling pressure has already pushed ADA below key support levels. At its February low of $0.42, nearly $390 million in long positions were liquidated. Unless buyers step in soon, shorts could push the price even lower toward the next target, which is near $0.35. 

With development delays, failing long-term holders, and bearish technicals, it's no wonder investors are losing faith in the once-promising smart contract platform.

The Rise of Pandoshi

As Cardano declines, one project standing out is Pandoshi (PAMBO), an innovative layer-2 blockchain and DeFi ecosystem aimed at championing privacy and decentralization.

At the heart of Pandoshi lies its native utility token, PAMBO. This deflationary cryptocurrency implements a buyback-and-burn mechanism on its decentralized exchange, PandoshiSwap, and crypto card platform, Cardoshi. For every transaction, a portion of fees is used to buy back and burn PAMBO tokens, reducing the overall supply. 

PAMBO has a fixed total supply of 2 billion tokens, of which 1 billion are reserved for public sale. With coins continuously removed from circulation via burns, remaining tokens stand to appreciate over time, an attractive quality for investors.

Beyond favorable tokenomics, Pandoshi aims to deliver decentralized finance products. These include:

  • PandaChain: A layer-2 proof-of-stake blockchain optimized for fast, affordable transactions

  • PandoshiSwap: A decentralized exchange facilitating trading and liquidity provision  

  • Pandoshi Wallet: A secure multi-chain, non-custodial crypto wallet

  • Cardoshi: A crypto debit card allowing real-world spending without KYC

Such offerings provide practical utility for PAMBO within a closed ecosystem, utility that extends beyond speculation. And by decentralizing each product, Pandoshi stays true to its goal of promoting autonomy and privacy.

Imminent Mainnet Launch

Unlike other layer-2 projects still in their early developmental stages, Pandoshi is gearing up for an imminent mainnet launch and public listing. The presale phase is now in its final stretch, with 66% of the final stage allocation already sold. 

Given robust tokenomics and real-world use cases, it’s no surprise investors are flocking to secure PAMBO tokens while they are still affordable at $0.01. The project has already raised over $5.5 million as the presale enters its final days.

As the crypto market recovery rages on, investors are seeking shelter in quality projects for the long haul. And Pandoshi checks all the right boxes, from favorable tokenomics to decentralized offerings to real progress towards mainnet launch. For these reasons, the new crypto favorite is gaining traction as investors seek better opportunities than fading old names like Cardano.

Click Here To Take Part In Pandoshi Presale


Visit the links below for more information about Pandoshi (PAMBO):

Website: https://pandoshi.com/
Whitepaper:
https://docs.pandoshi.com/

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

 

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