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Satis report spells good and bad tiding for Bitcoin and Ripple respectively

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Bitcoin Ripple

End of last month, Satis Group, an ICO advisory service, and research firm, released a report on the short, medium, and long-term analysis on the price standing and predictions for large-capitalization cryptocurrencies with Bitcoin and Ripple showing impressive results despite Bitcoin’s current unpleasing prices.

The initial coin offering firm published the report with the intentions to examine the current price value of major virtual currencies in the crypto market that include their actual price valuations underlying coin prices.

The published report could not have come at any better time as it contains some market prediction that concern the potential growth of the crypto market in future giving hope to prospective and current investors.

Although at present, according to information provided by CoinMarketCap, the number one ranked cryptocurrency, Bitcoin is exchanging at 6,939 US dollars per coin, marking a price decrease of less 5.77% over the period of last 24-hours. Satis Group analyst predict the price of Bitcoin is going to shoot up to about 96,000 US dollars over the next five years.

It is evident that these new price prediction from Satis Group are not so encouraging in comparison to estimates made by other market researchers and observers who place Bitcoin price valuation in the next five years to be anywhere around the 1 million US dollar level.

Currently, as the market discusses and looks into the findings made by the ICO advisory service and research firm, people are not responding to them positively as Tom Lee, another revered crypto pundit places the price of Bitcoin to be around 91,000 US dollars by Mid-2020.

Regardless of the bashing from investors and traders, the finding by Satis Group still sounds reasonably positive considering the current circumstances that have been bedeviling the crypto market.

Satis Bitcoin’s Bullish Prediction

For some time now, it seems the crypto market has been plagued by stagnation and little positive price movement ever since this year started. But Satis Group has come with hopeful price prediction claiming Bitcoin is going to be one of the virtual currencies that are going to benefit, and realize its potential that the crypto is going to catapult its price to skyrocket to the levels of 96,000 US dollars per coin in the next five years.

Still, on the recent report findings, Satis Group predicts the monetary value of the entire cryptocurrency market would be at $3.6 trillion US dollars by 2023. If this is anything to go by, such a market valuation rise regarding market capitalization would be massive considering the current market cap of the entire crypto market currently standing below 200 billion US dollars.

Satis Group Prediction on Ripple (XRP)

Since the beginning of the year, Ripple (XRP) has managed to maintain a more or less constant price trajectory, and as a result, the digital coin has not been able to fetch attractive price valuation of traction.

At present, Ripple (XRP) is exchanging at around 0.293 US dollars, and when you have a closer look at the digital coin’s price performance since the beginning of the year, you will notice that Ripple’s XRP has been losing its value over time. The cryptocurrency has dropped over 60 percent of its value from the peak.

According to the informatics report by Satis Group, Ripple (XRP) has no utility value attached to it making it a misleadingly marketed digital asset. Many crypto enthusiasts view these sentiments negatively as the digital coin has been gaining mainstream adoption in the financial and banking sector continuously.

Everyone who is familiar with Ripple (XRP) can attest that the digital currency is making highlights with constant news of being adopted by financial companies and banks. It’s just a fact nobody can take away from Ripple.

According to the research, Ripple investors should be on the lookout for a price dip to the zones of 0.01 US dollars away from its current 0.293 US dollar price tag.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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