Crypto news: CRO, ADA and PEPE

Continuing our column on the news and prices of different crypto, the assets we will analyze today are Cronos (CRO), Cardano (ADA) and Pepe (PEPE). 

These are three projects that are extremely different from each other and have had equally different performances over the last period, providing a glimpse that the trends of the last few years are changing. 

Prices and market statistics of crypto assets Cronos (CRO), Cardano (ADA), and Pepe (PEPE)

As we have already explained, looking at the three projects we can see a strong diversity among them: in terms of design, but also in terms of stats in the crypto market. 

Starting with the crypto Cronos (CRO), we find it at a price today of $0.0579, with a slight increase received in the last 24 hours of 0.6%. 

In terms of market statistics, Cronos has a capitalization of $1.52 billion, with a daily trading volume of $5.9 million. The circulating supply is 26.2 billion CRO.

Let’s now turn to the most important project in terms of numbers, compared to the three: Cardano (ADA). 

The crypto’s price is $0.30, with today’s increase (in the last 24 hours) of 3.03%. The Cardano project has a market capitalization of $10.5 billion, with a trading volume in the last 24 hours of $311.7 million. 

The circulating supply is 35 billion ADA with an average holding time of 129 days. 

Among the three, PEPE’s project is the youngest and the one that has been the most talked about in the past year. PEPE’s price is around $0.00000124, with an extraordinary 12.05% increase in just 24 hours. 

Its market capitalization is $487.6 million, with a volume of $180 million in the last 24 hours. 

PEPE’s circulating supply is 391.8 BILLION PEPE. 

Let’s now turn to the most interesting news involving the three cryptographic projects mentioned above. 

MuesliSwap, Cardano’s DEX reimburses users for confusion over slippage

The world of decentralized finance (DeFi) has been fertile ground for innovation, offering users the promise of financial autonomy and less dependence on traditional financial intermediaries. 

However, the journey to this utopian financial landscape has not been without obstacles. One of these has been the problem of slippage, which recently prompted the team at MuesliSwap, a major Cardano-based decentralized exchange (DEX), to take a significant step to address the concerns of its users.

Slippage, a term frequently used in the cryptocurrency trading sphere, refers to the discrepancy between the expected price of a trade and the price actually executed on the blockchain. This can result in substantial losses for traders when executing trades, particularly on DEXs where liquidity may not be as abundant as on centralized exchanges.

The MuesliSwap team acknowledged that they did not adequately communicate the mechanisms of the slippage function, leading to confusion and losses for users. MuesliSwap, which operates on the Cardano blockchain, uses a matching system that pairs buyers and sellers. However, the complexity of the system has led some matchmakers to withhold extra funds from slippage, leaving traders puzzled and dissatisfied.

MuesliSwap’s commitment

In response, MuesliSwap has pledged to reimburse users who have suffered substantial losses due to slippage over the past year. The team recognizes the importance of transparency and user trust in the rapidly changing DeFi landscape. By taking responsibility for the confusion caused by its system, MuesliSwap aims to rebuild the trust of its user base.

Moreover, the team’s proactive approach does not end with refunds. MuesliSwap has worked diligently to correct the underlying problem of slippage within its platform. This commitment to both rectification and refunds demonstrates the MuesliSwap team’s dedication to fostering a healthy and sustainable DeFi ecosystem.

It is worth noting that the slippage problem is not exclusive to MuesliSwap; users of various Cardano-based DEXs have raised similar issues. The impact of slippage on large transactions can be particularly significant, reducing the value traders receive and hindering their overall trading experience. To counter this problem, MuesliSwap plans to develop a DEX aggregator. This aggregator aims to mitigate the impact of slippage by dividing larger trades into smaller trades, thereby minimizing potential losses due to price discrepancies.

In terms of market position, MuesliSwap holds a prominent position within the Cardano ecosystem, with as much as $17.3 million in locked assets within its platform, according to data from DeFiLlama. However, recent market volatility has taken its toll on its valuation, with a 27% drop since the beginning of the month and a 68% drop from its peak in April 2022.

Pepe still proves to be a memecoin to bet on

After weeks of sideways trading and weakness, the cryptocurrency market is once again showing signs of life, and this time memecoins are leading the charge.

In the midst of a mini-rally, Pepe (PEPE), a meme-inspired cryptocurrency token, is up more than 12% in the past 24 hours.

The phenomenon of memecoins outperforming established players such as Bitcoin and major altcoins during the early stages of bull markets has become a recurring trend in the cryptocurrency landscape. 

As the market begins to shake off stagnation, speculative assets like memecoins tend to post rapid gains, attracting the attention of traders looking for new and exciting opportunities. 

This trend was evident as early as 2020, when Dogecoin, one of the pioneers of meme-based cryptocurrencies, posted substantial gains weeks before the start of the remarkable bull runs of Bitcoin and Ether. Now in 2023, both Shiba Inu and Dogecoin have already rebounded 30-50% from recent lows. Pepe is trying to follow in their footsteps.

Surprisingly, Pepe has stealthily secured the position as the third most popular memecoin in terms of market capitalization, behind only Doge and Shiba. 

With the resurgence of fervor for memecoins sweeping the market once again, PEPE looks poised to retest its previous all-time high if the current mini-rally has enough momentum.

PEPE rally is important for the crypto sector: comparison with CRO and ADA 

Analysts say the excitement and speculative activity generated by memecoins is exactly what the cryptocurrency sector needs after weeks of lackluster prices. Pepe, with his quirky frog-themed avatar, is undoubtedly infusing a sense of fun and unpredictability into the cryptocurrency discourse.

Although Pepe undoubtedly faces an uphill path to match the achievements of Doge and Shiba, his recent double-digit surge underscores his rapid rise as a memecoin that is capturing the community’s attention. As market participants continue to look for opportunities that promise substantial upside, Pepe’s ongoing rally may very well be in its early stages, suggesting that there may be more to come.

In the great tapestry of the cryptocurrency market, memecoins like Pepe offer not only financial potential, but also a renewed sense of excitement. With the spotlight once again on these meme-inspired tokens, the broader market may find the injection of exuberance it needs to rekindle the flames of growth.