Connect with us

News

Our Readers Scored Big On Cardano And SmartCash Dollar Setups, Here’s Another In Social (SCL).

Published

on

Social Image

Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and a range of other well-established cryptocurrencies and tokens are enjoying double-digit recoveries on Thursday, as the wider markets cautiously return to positive long-term sentiment.

The recovery isn’t just limited to the larger tokens, however.

Scroll down the list of coins and tokens by market capitalization and it’s pretty much green across the board, heading into the afternoon session in the US.

We’ve been on the lookout for opportunities to play this recovery and we’ve found one in Social (SCL). This one is a dollar-break play, which is a play that we’ve highlighted on a number of occasions over the last couple of months. Here’s an example rooted in Cardano (ADA). And here’s another in SmartCash (SMART).

So what’s this play and what’s SCL all about?

First up, a quick introduction to SCL. This is the token associated with the company Social, which has developed and is about to launch a blockchain based social media platform. The company carried out an ICO back in the third quarter of last year but the platform was actually launched back in 2016, having undergone a couple of years of development. Back then, it was called Nexus and the legacy version of the platform is still branded as such. It’s about to undergo a rebranding, to Social, with the rebranded platform launch slated for this quarter, which, outside of the above mentioned one dollar threshold justification for getting into this one, is a solid fundamental driver (and one that worked well for Ethos (ETHOS), as per our article published here a couple of weeks ago).

SCL Daily Chart

SCL Daily Chart

Essentially, the company has taken a Facebook-type platform and concept and rebuilt it from the ground up, with blockchain at the foundation. This has a whole host of benefits over something like Facebook, with security, data-ownership and governance, privacy, transparency and more at the top of the list as to why and how a blockchain-based platform like this one can improve on legacy technology.

Anyway, why are we highlighting Social and, specifically, the SCL token, today?

When a token breaks the one-dollar threshold for the first time, it flags up on the radars of a large number of cryptocurrency traders. It’s unofficially regarded as a validation of the token and its underlying technology and it’s a level from which we nearly always see a token build on its advance.

As the chart above shows, however, we’re yet to see that with SCL. The token broke one dollar, reaching highs of $1.15, on a few occasions between January 9-15. This is the point at which we’d normally expect markets to consolidate a little before the token in question resuming its overarching upside trend.

Just as SCL reached and broke one dollar, however, the wider crypto space crashed. BTC fell 50%, as did many (more accurately, most) of the other coins and tokens, large and small. This wider market weakness translated to SCL not being able to hold on to its above-one-dollar pricing and the token dipped to below $0.50 a piece on January 17.

Over the last twenty-four hours, however, subsequent to the just mentioned lows, SCL has run to $0.62 – a close to 40% appreciation, outpacing many of the larger coins – ETH, LTC, etc.

But if we are correct, and we have been on numerous occasions over the last couple of months alone, the real target here is a recovery towards (and a subsequent break of) one dollar.

With a number of exchange listings on the near-term horizon (as reported by the company on Twitter here the day before yesterday) and the above mentioned rebranded platform launch slated for before the end of this quarter, there are also plenty of near-term fundamental drivers in place to catalyze the recovery.

We will be updating our subscribers as soon as we know more. For the latest on SCL, 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 Social

Continue Reading
2 Comments

News

ONGX – Tokenized Ownership of Pharmaceutical Facility Listed on HOBIT.io

Published

on

OncoGenerix.io and OGInvest Limited have announced that the ONGX Token will be tradable via the Hobit.io exchange. The ONGX Tokens are built on the ERC20 blockchain protocol, serve as a SAFE (which stands for “simple agreement for future equity”), and will be exchangeable at the option of the investor for equity-token securities.  The ONGX Token offering is a first-of-its-kind digital investment opportunity, the company stated, as it offers tokenized ownership of a pharmaceuticals manufacturing facility. Through ONGX Tokens investors have an opportunity that is typically available only to industry insiders and large investment firms, the company stressed. 

“We are excited to see OncoGenerix.io work with Hobit.io, as we believe it is a strong ecosystem to provide ONGX investors with potential liquidity. We believe ONGX is the pharma industry’s largest digital offering to date, as measured by target investment size, underlying valuation, and production capacity of the asset. The ONGX Token brings pharma production investments to a much larger audience and democratizes the pharma investment opportunity,” said the president of Hobit.io Mr. K. Holtser.

Hobit

The OncoGenerix project anticipates to benefit from a combination of the OncoGenerix plant’s strategic location, favorable valuations of pharma manufacturers, and continued global pharma market growth. As a novel and generics pharma producer, OncoGenerix specializes in injectable…

Continue Reading

Featured news

Business incubator GDA Ventures acquires first client MobileGo, introduces MGO Token for blockchain gaming

Published

on

GDA Ventures, a business incubator backed by the GDA Group of companies, has  announced its first client – blockcain gaming platform MobileGo (MGO). The MobileGo project was initially launched in 2016 and focused on gaming, with significant closed partnerships including Unity and Xsolla, the gaming industries leading game engine and one of the most utilized payment processing providers. 

GDA Ventures 

Similar to many early blockchain projects, MGO built a significant community and blockchain offering while securing partnerships with top companies in the industry. The 2018 market crash combined with failed deliverables from various signed partners slowed the project down. Now, as crypto sees a revitalization, MobileGo has engaged GDA Ventures to restructure and revive the MGO project, the two companies announced.

“This is a huge step forward that will continue to bring innovation and originality to the blockchain gaming ecosystem; benefiting developers, gamers and everyone in between. We are very excited to work with GDA Ventures as their experience with venture incubation and development will help take MGO to the original heights set out in 2016, becoming an industry pioneer that bridges the gap between gaming and blockchain,” the MobileGo team announced in a statement.

MGO co-founders were some of the first to recognize that peer-to-peer gaming and unique…

Continue Reading

Featured news

SyncFab Boosts Aerospace Division While Strengthening MFG Token Utility

Published

on

Manufacturing blockchain company SyncFab has been selected as an official showcase solution finalist for the United States Air Force AFWERX program, the company announced this week. AFWERX is a community of innovators devoted to creating a faster and smarter US Air Force. SyncFab showcased its technology enabling agile manufacturing and reverse engineering of mission-critical component parts. 

SyncFab MFG Token

Additionally, Jason Smith, a veteran in the aerospace industry, joined the SyncFab team recently.  Smith possesses a tremendous knowledge of the industry, having worked with L3 Vertex Aerospace, the United States Air Force, commercial airlines, and government agencies to uncover business opportunities for engineering, maintenance, and repair services. 

SyncFab’s advisory board has also welcomed Urs Breitmeirer, former group CEO RUAG Swiss Aerospace Defense CO to boost the blockchain adoption strategy. 67% of space and aerospace executives anticipate the combination of blockchain distributed ledger technology, AI, XR, and quantum computing will have a transformational impact on their organization as reported by Accenture. With thousands of suppliers responsible for delivering advanced and innovative components or materials to Tier 1 suppliers and OEMs, supply chain and logistics have long been critical to the success of every major aerospace and defense program, SyncFab team stated.

This substantial reinforcement of the core team at SyncFab is expected to help boost the aerospace industry…

Continue Reading

Press Release