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?
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.
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.
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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Why BlocPal Is the Easiest Way to Accept Cryptocurrency
The face of the retail industry is always changing.
E-commerce is one of the fastest growing trends worldwide, and for good reasons.
It’s convenient, secure, and is effective at connecting merchants with interested shoppers from across the world.
For this reason, it’s no surprise that online shipping is expected to overtake brick-and-mortar stores globally by 2021, making it the world’s largest medium for retail. As the industry changes, it’s important for retailers to keep up with the latest technology so they’re able to accommodate more customers at once. This is where BlocPal comes in.
BlocPal offers business owners an easier way to process payments
BlocPal understands that not every business owner adapts to technology at the same rate. As such, BlocPal has been designed to optimize transactions for both online and brick-and-mortar companies so that every retailer can enjoy the benefits that come with the world’s first true multi-currency payment solution.
With BlocPal, business owners can enjoy the following benefits:
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With the crypto markets in turmoil, especially after news about a potential hack at Cryptopia, traders and investors need to turn their attention away from day trading. Instead, crypto traders really need to think long-term and identify projects that are sure to win in the long-term. In particular, one crypto company is making major headlines after winning an all-important technology battle against the mighty Facebook. That company is Zulu Republic (ZTX).
Zulu Republic Develops Lite.IM
Zulu Republic is an ecosystem of blockchain tools and platforms, designed as a place where people, businesses, and organizations can thrive on their own terms. And indeed, Zulu Republic has hit a grand slam with their development of Lite.IM.
Lite.IM is a crypto wallet that has been integrated with several of the most popular messaging platforms such as Facebook Messenger and Telegram. In addition, users in the U.S. and Canada can also exchange and manage crypto balances through SMS. Although not all cryptocurrencies are available, the team has selected four of the most popular currencies which include Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and the native currency of Zulu Republic (ZTX).
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Throughout the previous year, TRON has been making great progress, setting foundations for growth and expansion, which may eventually lead to its dominance over the crypto market. Now, 2019 has barely even started, and it already promises to be a year filled with potential and all kinds of different possibilities for this coin.
TRON in 2018
2018 has started with a market crash that has brought a lot of coins down from their all-time highs. This is true for TRON as well, and it did not manage to avoid being affected by bear market, no matter what its developers did. However, instead of trying to fight the market and its trends, they focused on expansion, development, partnerships, and future projects.
The first big step for TRON was the launch of its MainNet, with dozens of listings and partnerships being announced right before the final launch. After that, the coin transferred its tokens from Ethereum’s network, it had a Super Representative election, and it even managed to purchase BitTorrent, which was a part of a secret project back then.
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