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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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Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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Secret Behind Binance Coin: Why is BNB Outperforming Other Coins

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The crypto market has seen quite a lot of volatility in 2019, although not all of the price changes were bad, as they were in 2018. In fact, many coins saw significant growth. Bitcoin (BTC), for example, recently managed to breach one of its major resistance at $4,000. Many have predicted that breaching this roadblock will mark the next stage in Bitcoin’s growth, and potentially its return to higher levels.

However, while most of the market has been seeing significant gains in the past several days, one coin still outperforms them all — Binance Coin (BNB).

So far, in 2019, Binance Coin has shown a strong will of its own, often seemingly being immune to the market trends. While the coin did see a significant loss in 2018, it spent most of 2019 in recovery, even while the last remnants of the crypto winter still tortured the rest of the market.

Back in the early days of January 2019, the coin’s price was barely above $5. Now, however, only a bit over two months later, BNB price is at $15.86, and still seeing growth. The coin never suddenly spiked, but instead, its growth was steady and stable. Whenever it approached new resistance level, BNB would slowly carve its way through it, turning it into support, and continuing on.

But, what is allowing it to break free from…

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Cryptocurrency Analysis: Tron (TRX), Ethereum (ETH) and Bitcoin Cash (BCH)

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The cryptocurrency market has entered another turbulent period, with shifts between price recoveries and corrections happening as often as several times per day. It is clear that the coins are still nowhere near to being stable, and most of them are impatient for something to happen, and that extends to investors and traders as well.

However, while most eyes are on Bitcoin, many are also curious about other top coins as well, particularly those within the list of the top ten largest cryptocurrencies by market cap.

Ethereum (ETH)

Ethereum is the second largest cryptocurrency by market cap, and likely the second most important coin ever to be made. It is the coin that helped the attention shift from crypto towards blockchain, acting more as a development platform than an actual currency. As a result, Ethereum has started the blockchain revolution, and it became the go-to project for developing dApps, smart contracts, as well as new coins.

It is still the leading project when it comes to the number of other projects developed on its platform, and while it has its own issues — as well as a lot of competition — Ethereum manages to hold its ground. Meanwhile, its coin, Ether, is currently seeing growth, aiming to once again reach the price of $150, although it has several large resistance levels to beat. However, it already breached the…

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