Elastic (XEL) Could Just Be Getting Started - Global Coin Report
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Elastic (XEL) Could Just Be Getting Started



Elastic (XEL) is attracting a lot of attention in the cryptocurrency space right now. The token is up close to 10% on the USD over the last twenty-four hours and a little over 4% on BTC. Interestingly, this isn’t one of those coins that has rocketed during 2017 (the company behind it only conducted its ICO back at the end of June) and this is likely one of the factors that’s driving the increase we are seeing right now.

What do we mean by this?

Well, there are a number of traders and investors that are sitting on the sidelines at the moment feeling as though they’ve missed the boat on the incredible gains many have logged on the back of cryptocurrency positions year to date. Many of the coins that have turned out these incredible gains are now trading for hundreds if not thousands of dollars apiece, meaning that said traders and investors are only able to pick up a limited exposure to any upside potential and – in turn – that the upside potential is somewhat limited based on the limited position size.

XEL Daily Chart

XEL Daily Chart

What this is translating to, then, is traders seeking out those currencies that are yet to pick up huge runs on the back of large inflows of volume, one of which is Elastic. As such, and if this concept is valid a valid one, we could just be seeing the beginning of a much larger revaluation for XEL as we head into the close of 2017 and beyond.

So what’s this coin all about?

The company behind XEL, Elastic, which, as mentioned, conducted in ICO back in June this year, is set up to build the first decentralized supercomputer. The concept is relatively complicated but, for the purpose of simplicity, it’s essentially an open source project designed to create what Elastic refers to as a decentralized trustless supercomputer, which is built on cryptography and blockchain technology. The company has created its own proprietary programming language (called ElasticPL), which accounts for one of four major elements of the project – a dedicated blockchain, a core client and the XEL miner.

So where does XEL come into the equation?

Well, in order for people to use the decentralized supercomputer for whatever purpose, they need to pay for the computational power that they require. This computational power is provided by miners, which are rewarded in XEL. So, people buy XEL and use it as a transaction token in return for computational power provided by the miners on the network and, in turn, the latter receive the XEL as a reward – similar in concept to the way that miners on the bitcoin network receive BTC as a reward for the computational power that they dedicate towards solving algorithms and verifying transactions.

So, why is this one running today?

A quick look at the usual communication channels doesn’t reveal anything groundbreaking outside of a pending website redevelopment (which is set to be released near term), and it’s this that leads us to the conclusion that the recent run is rooted in an inflow of speculative volume in anticipation of a much longer term upside move.

If this is the case, it makes for a risky trade, given that we are probably going to need some sort of fundamental development to serve as support for the action we are seeing at some point. Right now, however, that doesn’t make it a non-starter. There could be plenty of room on the upside of the equation before any such fundamental development is required and – for us – this makes Elastic and its XEL token a real potential winner at current prices.

We’ll be on the lookout for any communication from the team over at Elastic as supportive of our thesis and, for now, we’ll be basing our bias purely on volume.

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


3 Reasons Why WISE Token Could Be a Massive Winner in 2021



WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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The Pros And Cons Of Cryptocurrency




Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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As Global Tensions Grow, Bitcoin Price May Go Higher



BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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