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Encrypgen’s Gene-Chain Will Soon Allow For DNA Token Trading

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Encrypgen
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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.

ERC-20 Integration

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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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