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Encrypgen (DNA) Launches World’s First Blockchain Genomic Data Marketplace

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Crypto investors have had an extremely rough year.  Losses have been massive and it’s unclear when the bear market will end.  One of the biggest reasons behind the precipitous drop in token prices has been due to companies not achieving what they promised.  At some point investors need results.  One company that is bucking that trend is Encrypgen (DNA).  Back in August, Encrypgen launched the beta version of its Gene-Chain.  And now today, Encrypgen will officially launch version 1 of the world’s first blockchain genomic data marketplace.

Back in August, when the beta version of the Gene-Chain was launched, the DNA token price soared by approximately 60% at its highest point.  And that was just a beta version.  It’s very possible that the launch of Gene-Chain version 1 will cause an even bigger spike.  And that’s because of a new feature called “buy now.”

The DNA token is a utility token.  In a nutshell, that means that the value of the token will be determined by real-world usage.  With the implementation of the buy now feature, researchers and scientists will be able to purchase DNA tokens directly on the platform.  Those DNA tokens will come directly from Encrypgen’s inventory of approximately 3 million.  As that supply diminishes, Encrypgen will then have to go to the exchanges, such as Cryptopia and Kucoin, to buy more tokens.  Another possibility is that researchers will bypass the company and just go directly to the exchanges to buy tokens.  Either way, it’s clear that Encrypgen has reached the point of utility and traders can begin to expect a significant run-up in the token price.

Because DNA is a utility token, there are two important questions for investors.  First, what does the competitive landscape look like?  And second, what does the industry look like?

Competitors

As mentioned earlier, Encrypgen has now launched the world’s first genomic data marketplace.  So, while there are some competitors, they are years behind.  The main competitors include LunaDNA, Nebula Genomics, and Shivom.

LuncaDNA: Luna is no longer interested in a cryptocurrency.  Instead, they have decided to award shares in a public benefit corporation to data donors.  While it’s probably a safe move from a regulatory point of view, I think it’s a bad long-term plan.  A spendable currency is significantly more valuable than shares.  Cryptocurrencies offer anonymity while shares do not.  And further, Luna has yet to announce any sort of timeline for its platform.

Nebula Genomics: Nebula has managed to build an impressive company with one of the best teams in the business.  The company is promising to use blockchain but has oddly decided against doing an ICO (at least for now).  Instead, they will likely do a token generation event with a minimum required purchase of $50,000 (leaked via Telegram).  The founder of Nebula, George Church, is well respected in the industry.  However, there is a potential conflict of interest.  Mr. Church owns a sequencing company called Veritas.  The tokenomics model is questionable and it’s unclear how Nebula plans to make money.  Therefore, it’s entirely possible that Nebula’s purpose is to help sell Veritas tests.  Great for Mr. Church but not all that wonderful for investors.

Shivom: Although Shivom was able to raise a great deal of money in their ICO, the company has some issues.  First, a company that helped promote the sale in Australia is facing a $2 million lawsuit.  Second, Shivom’s registered agent in the Isle of Man has resigned.  Third (and most importantly), Shivom has yet to even produce an alpha platform.

As traders can see, these 3 competitors above certainly should be acknowledged but there doesn’t appear to be much cause for concern.  Encrypgen is certainly the undisputed leader of blockchain genomics at this point.

Industry Strength

Genomics is currently one of the hottest spaces around and is forecasted to grow to at least $24 billion by the year 2022.  This number has already been revised upward several times so it’s entirely possible that the $24 billion is at the low end of expectations.  The industry growth will be driven by an increase in genomic research activities, a rising number of start-up companies, a growing focus on personalized medicine, and an increasing application of genomic sequencing in the diagnostics.

Conclusion

Most traders in the crypto space recognize that only a few of the current cryptocurrencies will exist in 5-10 years.  The ones that deliver will grow exponentially and the ones that don’t will fizzle out quickly.  Traders should be looking for companies that have delivered on their promises and have real-world usage.  Encrypgen checks all the boxes.

Disclosure: I am long DNA

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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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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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