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EOS (EOS) Just Moved A Step Closer To Killing Off Ethereum (ETH)

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EOS (EOS) is the number nine ranked cryptocurrency by market capitalization right now, priced at $12.36 for a capitalization of a little over $7.6 billion. Over the last 24 hours, we’ve seen a large spike in volume, with the coin trading more than $2 billion across its primary exchanges since this time yesterday and looking set to reach if not exceed this number heading into the middle of this week.

Anybody who has spent a bit of time in the space will likely already be familiar with what EOS is trying to achieve – the company behind the token has developed a platform that it expects will overtake Ethereum as the primary decentralized application technology globally over the next few years.

This is one of those claims that seems outlandish at first glance but, when you look at the technology that underpins what EOS has developed, and, at the same time, when you look at the milestones that the company has achieved to date, the claim goes from being outlandish to being one that a large portion of the space cannot afford to ignore.

There’s also something else we like about this one.

Take a look at the chart below.

EOS Daily Chart

EOS Daily Chart

It’s very rare that you see this sort of neat bullish setup on a cryptocurrency chart – at least, that is, on the wider time frames. In the equities markets, a chart like the above EOS chart would have shorter-term traders chomping at the bit to pick up an exposure at current depressed prices in anticipation of the coin continuing to record fresh higher highs and higher lows as part of its overarching upside trend.

Combine this with the above-mentioned volume spike and things become even more attractive.

But that’s not all.

Block.One, which is the company behind the EOS technology, just announced the creation of a fund to exclusively invest in opportunities leveraging EOS.IO software. This is the first announcement for the company’s EOS VC partnership program to stimulate EOS.IO innovation and, importantly, it comes as part of a partnership (as in the company is seeding the fund in collaboration with) TomorrowBC. Think you’ve heard that name before? You probably have. Derek Rundell, a managing partner of Eric Schmidt’s venture firm, TomorrowVentures, is the Managing Partner of TomorrowBC.

We already know that Schmidt, billionaire and Executive Chairman of Alphabet, is a big fan of the potential of blockchain technology and that TomorrowBC is seeding a fund with Block.One creates a direct link between the Google billionaire and the company EOS technology.

That’s big news for any company but for one that’s positioned as Block.One is, it’s a very important development. It’s a strong validation of the technology but, beyond that, it’s also an indication that EOS might finally be making good on its potential and stepping on Ethereum’s toes in this sector.

Keep in mind that the EOS technology is in its early iteration right now, with the EOS.IO Testnet having been launched at the start of last month.

With that said, decentralized applications are being built on the Testnet as we speak and, as each of these completes and builds out the EOS ecosystem, the company behind the technology is only going to attract increased attention in the sector.

And as we know all too well, it doesn’t take much in terms of mainstream coverage to really get a coin moving in this space.

Bottom line: not only is this one technically poised for a run based on the above-illustrated chart but it’s making strides fundamentally to position itself a real force in the cryptocurrency revolution.

We will be updating our subscribers as soon as we know more. For the latest on EOS, sign up below!

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.


Image courtesy of Block.One

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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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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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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