After 2018 ended, the crypto community was hoping for a strong start to the new year. Unfortunately, that hasn’t happened. In addition to Bitcoin stagnating, many traders recently suffered another painful loss after Cryptopia was hacked on January 14th. This latest theft highlights the importance of cold storage. For those wanting to truly protect their assets, nothing beats a Ledger Nano or a Trezor device. But, even more than that, it highlights the importance of trading on secure and safe platforms.
Off To The Races In 2019
Although many tokens hadn’t been doing much trading in the new year, one coin was. That token is Encrypgen (DNA). DNA started off the year with a price of $0.018, or approximately 500 sats. Within a few weeks, the price had soared to $0.07, or approximately 2000 sats. That represented an increase of roughly 300% in sat value. The increase was due primarily to a flood of news announcements including strong partnership deals. Additionally, large buyers were rapidly entering the market, including one mysterious buyer who purchased roughly 6 million DNA tokens.
DNA has been one of the hottest tokens to start the new year but that, unfortunately, came to a halt after Cryptopia’s temporary closure due to a multi-million-dollar hack. Previously, DNA tokens had been listed on Okex and KuCoin. However, when Encrypgen’s CEO refused to pay bribes, the tokens were delisted.
So, what’s next for Encrypgen? Fortunately, the business is 100% focused on adding users to the Gene-Chain, both data buyers and sellers. And, within the next few weeks, users can expect to trade DNA tokens directly on Encrypgen’s Gene-Chain. Because of this, DNA token buyers won’t have to worry about dealing with unsecured exchanges such as Cryptopia.
Encrypgen’s main goal is to bring together genomic data sellers and buyers. Essentially it wants to be the go-to marketplace for genomic data transactions. While consumers who sell their data have the option to cash out their payments via Bitcoin (BTC), they will soon be able to cash out via other methods such as Ethereum (ETH). Researchers will also be able to buy the uploaded data with DNA tokens. This was the original vision that was laid out by Encrypgen’s Founder and CEO, David Koepsell.
Once the Gene-Chain is ERC-20 compatible, DNA token trading will be available on the platform. Given how hot DNA tokens were this month, it’s not unreasonable to think that trading volume could explode on the Gene-Chain. It’s natural that traders may want to get their hands on these tokens that are very likely to increase in value during the upcoming months and years. Still, it’s important to remember that DNA is a utility token. It was created for buying genomic data on the Gene-Chain.
Other Trading Options
For users who may want to get started trading DNA tokens before the functionality is made available on the Gene-Chain, there are other options. These options include:
- IDEX – A Decentralized exchange for trading Ethereum (ERC-20 tokens).
- EasyTrade – Trading widget that provides the best available orders from its pool of decentralized exchanges.
- Bleutrade – New option for DNA trading but very little volume at the moment.
Although Cryptopia let a lot of people down, Encrypgen’s business isn’t affected in the least. The company continues with business as usual. Encrypgen is one of the most promising companies in the crypto world and I’m looking forward to seeing all the future developments.
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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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…