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EOS – Time to Sell?

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EOS
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The fantastic climb in price for the youngest of the top-ten cryptocurrencies by market cap, EOS, has sent the coin-market into a frenzy of speculation lately. With the release of their main net due June 2nd, participants in the space are hodling this crypto-come-lately with the hopes of a new blockchain rivaling the likes of Ethereum. And it may do just that. However, when evaluating the specifics behind the jargon of whitepaper doublespeak commonly found littering the websites of overvalued cryptocurrencies, there may be a few good reasons to take your gains, assuming you haven’t just bought into this shot-in-the-dark lottery ticket of a product.

EOS (which stands for nothing, and whose founders encourage others to create the meaning behind the abbreviation) has indeed met key elements of their roadmap in the first quarter of 2018. With the successful tests of Dawn 1.0 – 3.0, the developers behind the tech are looking to capitalize on their momentum with the release of EOSIO 1.0, creating a unique blockchain for developers, dapps and the scalable transactions necessary to dominate the space. And while the chatrooms on your favorite social media sites are filled with the voices of overly enthusiastic nerds believing they’ve found the one-crypto-to-rule-them-all, you have the right to remain skeptical going forward.

Despite the words of EOS enthusiasts who insist on an unproven ability to scale on demand (sometime in the future), the EOS team plans on releasing EOSIO 1.0 with the ability to handle a measly 1000 transactions per second (according to their website). And while that by itself should be considered a fantastic accomplishment in the decentralized world, it is still too small to be considered worthy of the recent price increase. Unless the team comes out with a breakthrough in processing speeds incredibly soon after the release, I expect the price of this crypto-coin to have a hard time sustaining the gains leading up to their main net drop.

Another reason to remain skeptical of the team’s delivery has everything to do with timing. The unfortunate timing behind the chosen date of June 2nd puts the EOS blockchain squarely behind another strong competitor in the space. I’m talking, of course, about Tron (TRX). Tron (TRX), Justin Sun’s brainchild, is set to release its own blockchain two days ahead of the EOS main net. Coming strongly off of its own doubling in fiat value, the Tron community is filled with exuberance from an onslaught of exciting developments. From the constant realization of new partnerships (expanding its user base to over 100 Million people) to the hiring of extremely talented developers, Tron (TRX) is ready to go head to head with any blockchain competitor that dares raise their head above the water line. And while EOS has a few talented people behind their tech as well, they don’t look at all ready to go toe-to-toe with this champion of decentralization.

While EOS struggles to keep up with stronger and faster competitors, the price of their coin will likely sink with the expectations of their user base shortly after the hype of their main net wears off. And while I have no doubt that this newest player on the block-chain will innovate their way into the hearts of investors for years to come, the current valuation will likely have a hard time sustaining the gains realized over the past few weeks. And in anticipation of a stagnating or indeed sinking value after the release of EOSIO 1.0, this skeptical reporter has an abbreviation or two for the three-letter namesake given to this newest crypto-darling. My favorite so far: Every One Short.

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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

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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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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