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Encrypgen (DNA) – Top Altcoin Pick for 2019

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Encrypgen

Enthusiasm appears to be coming back into the market on the back of Bitcoin’s recent surge, and it’s now time for traders to re-evaluate the coins that belong in their cryptocurrency portfolio.  A powerful influencer on Twitter recently posted that the current environment feels a lot like 2017 in that micro caps may be setting up for a powerful bull run.  During the past year, I’ve written a lot about the potential that Encrypgen (DNA) has.  And while many other companies have disappointed their token hodlers, Encrypgen continues to demonstrate why its platform will stand the test of time.  As new money continues to come rushing into the market, and Encrypgen continues to exceed expectations, there is no doubt that the DNA token belongs in your portfolio!

Major Milestone Achieved

Encrypgen’s team, led by David Koepsell, recently announced that the final functionality was completed for the Gene-Chain.  This means that anyone can use their ERC20 DNA tokens to buy and sell data.  Thus far, there have been more than 100 transactions recorded on the Gene-Chain and with the final functionality now in place, that number should begin to increase exponentially.  In January, I read a really interesting article that suggested Encrypgen could become the Amazon.com for genomic data.  That is certainly an ambitious goal but if any company can do it, it’s Encrypgen.

Although the Gene-Chain is completed, that certainly doesn’t mean that the team is done improving the platform.  In fact, there is an exciting new tool coming within the next few weeks that researchers are going to love.  Custom surveys will be added to the platform shortly which will allow researchers to gather additional data from sellers.  This is a win-win for everyone because data sellers will be additionally compensated, and the scientific community will receive additional information that can be used in their efforts to understand and improve medical care.

It’s important to remember that DNA is a utility coin.  This means that the value will be derived primarily from usage on the Gene-Chain.  The more data transactions that occur, the more likely it is that the value of the token increases.  Therefore, streamlining the transaction process as much as possible for researchers and data sellers is of paramount importance.  Encrypgen is doing all it can to accomplish that.

Partnerships are the Key

With the Gene-Chain now complete, Encrypgen’s team can now focus on another massively important task which is to enter into partnerships that will help grow the Gene-Chain.

The company has already entered in a couple lucrative partnerships that began in December, 2018, when Encrypgen signed a deal with Murrieta Genomics.  And then, one month later, Encrypgen did it again by partnering with viazoi.  Both of these partnerships will go a long way toward driving growth of the Gene-Chain and the DNA currency.  But that is only the beginning.

The goal is to have at least 10,000 users on the Gene-Chain by 2020.  But that number can certainly prove to be a low estimate if additional partnerships and deals are signed over the next 6-12 months.  Encrypgen hasn’t disappointed yet so there is no reason to believe they won’t succeed on this front as well.

Exchanges – Cryptopia, CoinExchange, and IDEX

As many of you know by now, Cryptopia suffered a hack earlier this year.  Since then, the exchange has been working hard to restore security and trading.  The company recently re-opened the website and has also enabled deposits/withdrawals and trading on many pairs.  Unfortunately, DNA has yet to be re-listed but it’s only a matter of time.  While traders eagerly await the return of DNA trading on Cryptopia, there are a few other options in the meantime.  CoinExchange and IDEX are both trustworthy exchanges that traders can have confidence in.  Unfortunately, there isn’t much volume at this time, but that can change quickly with more participation.

Final Thoughts

Encrypgen is making all the right moves to be the Amazon.com for genomic data.  The technology is second to none, and the growth will almost certainly come with additional marketing and partnerships.  I’ve never been more confident in a token which is why Encrypgen is my top altcoin pick for 2019.

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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.

Photo by Abhiram Prakash from Pexels

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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