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CannabisCoin (CANN): Growing Higher

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CannabisCoin

The original purpose of creating CannabisCoin was to enable recreational cannabis users to purchase cannabis in exchange for digital coins. In 2014 it was even determined that one CANN would be worth one gram of cannabis, as a part of “Yes We CANN” campaign.

Going over to 2017, three years after the proclamation that one coin will be dealing with 1 gram of cannabis, a lot has happened for this digital currency. Although small and still in the shadow of big guys in the world of cryptocurrencies, thanks to the Cannabis community, this token is always alive and well. What is currently going on with CANN and how is the legalization of recreational weed in California, brought by the government on the first day of 2018, affecting this digital coin?

CANN – Chasing the Big Guys

Although CANN is less likely to compete with currencies such as Litecoin, Bitcoin or Ethereum, it seemed like this currencies purpose was only focused on enabling Cannabis community and cannabis users to purchase cannabis without third parties involved. Given that recreational weed is barely legal anywhere except for California and Amsterdam, many people found this way of buying marijuana more than satisfying. That is where the initial interest for this coin begins.

We can easily compare it to DogeCoin when it comes to collecting general interest and engaging audiences and investors. DogeCoin was somewhat made as a tribute to a well-known internet meme icon Ishiba Inu, better known as Doge. As these two coins are firmly focused on narrow circles of potential users and investors, it is easily assumed that DogeCoins were initially purchased and invested in by fans of Doge meme, while CannabisCoin was the most exciting investment for cannabis community and cannabis users that found this tribute to their favorite plant an excellent investment as well. As these targeted audiences started to invest in something that initially seemed like not much of an investment, the value of these coins began to increase, so these digital currencies consequently started to receive broadened general attention.

But, while DogeCoin was praised as a cute and funny tribute to the internet’s most famous dog, CannabisCoin was ridiculed. That status was about to expire when CannabisCoin reached 420 place on the ranking list of all cryptocurrencies available on the market, which also must have made more than a couple of cannabis users chuckle. Why? Well, in case you didn’t know, 420 is internationally accepted code for marijuana, which seemed like a joke. But, 420 rank among all existing cryptocurrencies is anything but a joke, as this status showed that although initially intended for purchasing cannabis as a peer-to-peer tool, CANN indeed showed potential for having a bright future when competing with other digital coins.

Although CANN is not the only digital token intended for purchasing cannabis, it is most certainly the most significant and most valuable of them all, also drawing a title of most popular cannabis coin. 2017 thus seems to be pretty favorable for CannabisCoin and all investors that found this coin interesting.

Where is CannabisCoin at in 2018?

In 2017 we had a chance to hear a lot of promising forecasts when it came to predicting how cryptocurrency market will be doing in the year to come. There were a lot of promises and positive predictions for value increase for over 100 of different digital coins, and so it was for CannabisCoin.

Given the fact that recreational marijuana was legalized in California on January 1st, everyone had their fingers crossed that this decision behind the head of California will also affect CannabisCoin value to jump up with the new law that states that recreational marijuana is legal for purchase anywhere in California.

With the legalization of recreational marijuana in 2018 and with being brought to 420 ranks on the list of top digital coins only two weeks ago, cannabis community along with cannabis users and investors in CANN predicted that this digital coin will inevitably get an additional increase in its value.

But, that is now exactly how things were going as CannabisCoin lost -12.14% of its previous value at the beginning of 2018. That means that this coin is now currently being traded at 0.27$ per one CANN coin with the current market cap of 21.3 million dollars.  However, the most significant price this currency sold for is 0.3$, showing a potential for initial increase.

Given that recreational weed became legal just a couple of days ago, CannabisCoin became the most significant cannabis coin and at the same time a potentially excellent investment, especially if other states follow up with California and get onto legalization of recreational and medical marijuana.

Whatever the case will be in the year to come, CannabisCoin will undoubtedly remain at least as strong as it was in the last month of 2017, as it has the biased support of cannabis community and cannabis users who believe in the potential of this rising digital value.

We will be updating our subscribers as soon as we know more. For the latest on CANN, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Federacion via Flickr

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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