By a mile, last week was a good week for Ethereum investors. Even though the market has been quite bearish, Ethereum has remained fairly stable amid news of exchanges getting attacked and regulators paying close attention. In fact, after the SEC(Securities and Exchange Commission) put Bitcoin and Ethereum in the clear with statements that revealed the two cryptocurrencies as not being subjugated under securities laws and regulations, Coinbase ( a leading wallet and exchange platform in the US) added Ethereum Classic to its platform while also promising to add more ERC-20 tokens.
As it seems at the moment, Ethereum Classic is the newest investment in town considering the coin has been leading the altcoin market recovery after a mild dip that came with the news of Bithumb getting hacked. However, new developments by big-time crypto investors reveal that there could be a rise of Ethereum based cryptocurrencies that we all need to consider.
Anthony Di Lorio shopping for new Blockchain ventures
Bloomberg first reported that Anthony Di Lorio, a co-founder of Ethereum, is shopping for bargains with a particular interest in Vechain and Qtum (both China-based Blockchain projects). According to Di Lorio, “The biggest stake for” him at the moment “is in Qtum and Vechain.”
In an interview he did in Toronto, the billionaire also pointed out that “there are many opportunities in newer” projects “if you can identify them.”
To the uninitiated, Di Lorio is the creator of the Jaxx crypto wallet who used his early investments in Bitcoin to become one of Ethereum’s co-founders and ground floor investors. Currently, he runs Decentral, which is a hub in Toronto that is primarily built to focus on Blockchain projects.
Why is he focusing on Vechain and Qtum?
Although Vechain and Qtum are not among the top ten crypto projects at the moment on CoinMarketCap, it is easy to see why they both appeal to Di Lorio. Both VEN and QTUM are Ethereum based cryptocurrencies. In fact, the two Blockchain projects boast of control over the biggest up and coming crypto markets including China, Japan, and South Korea.
Qtum, for instance, is improving on Blockchain with a protocol that combines Bitcoin’s reliability with Ethereum’s smart contracts and flexibility. Currently, it has a market capitalization of about $914 million while being ranked among the top 20 cryptocurrencies on CoinMarketCap.
VeChain, on the other hand, provides a supply chain management Blockchain application with a focus on financial services. The VEN coin that runs on the Vechain’s Blockchain is currently ranked number 17 with a market capitalization of about $1.7 billion.
With pioneer crypto investors like Di Lorio looking to double down with new ventures in the crypto space almost a decade since Bitcoin was invented, it’s a clear sign that the market is shifting gears. Comparing Bitcoin to Ethereum, the former seems to have made strides in terms of building a platform where projects such as Vechain and Qtum can be established. However, when asked about Bitcoin’s future by Bloomberg, Di Lorio responded by saying that Bitcoin is “going to consistently do what it’s been doing over the last year as more people start to use it.” Clearly, he is still a Bitcoin bull.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…