For every crypto enthusiast, trader, or investor that claims that crypto will go big in 2019, there is an equal amount (or more) of those who remain skeptical and claim that crypto is just a bubble and that the crash is not done yet. After an entire bearish year, accompanied by two major market crashes, it is understandable why people are ready for a significant, positive change. It is also understandable why investors are wondering how much worse it can get from here on.
One of the most often-discussed coins these days is Ethereum (ETH), the third largest crypto by market cap depending on XRP price. Ethereum was questioned a lot recently, especially because it lost its position to XRP in mid-November. It is also one of the most important coins in crypto history, as it brought the focus to blockchain technology and its potential use cases, instead of just focusing on being a form of online cash.
What is next for ETH?
So, where is Ethereum going from here? Will it drop to $100 and below once again, or will it rise and exceed $200 once more? Also, many would like to know whether or not it has a chance of climbing up to 2nd spot on the list of largest cryptos.
As many would expect, the answer is not clear, and many aspects should be considered. Even then, it is nearly impossible to say what will happen to ETH. While it is one of the most important coins in a decade-long crypto history and an official representative of the second generation of crypto, many believe that its technology is outdated. Ethereum has started a trend of focusing on the blockchain, creating smart contracts, dApps, and new tokens.
While its importance cannot be denied, many see it as the coin of the past, with many new coins that offer the same being a lot better. This may refer to speed, price, the number of TPS, or even the difficulty of working on the blockchain. Even though there are more practical alternatives, Ethereum has managed to remain relevant. It already has countless dApps which are used quite a lot, even though none of them went viral recently.
While there are those who believe that ETH will always be in the top, there are also many who claim that any non-Ethereum killer dApp will mean the death of ETH. This is, of course, possible, although it might not be as easy as it sounds. As many who are familiar with the crypto space already know, it is challenging for dApps to gain popularity right now. They are limited to being used by crypto enthusiasts who are also Ethereum supporters, which is a lot of people, but hardly enough to match the popularity of regular good apps. While dApps may be the future, that future has yet to arrive.
Meanwhile, Ethereum is working on improving its technology in order to adapt, and not be forgotten as soon as another project figures out the secret of success. It is working on scaling solutions, just like Bitcoin. The fate of the two coins can be massively impacted by following months or even weeks. This is not due to the fact that Ethereum has a big secret project under the rug, but rather because it is known to follow Bitcoin up and down, whichever route the largest coin chooses to take.
At the time of writing, Ethereum’s price is at $146,88 per coin, with an 8.31% growth in the last 24 hours. For now, it appears that ETH is growing, together with the rest of the market. This indicates that there is a possibility of the coin hitting a $200 mark first, although the high volatility of crypto always leaves other possibilities just as likely. In short, 2019 is expected to be the year of changes, and some of them may have started already. However, it is difficult to say anything with certainty, and investors will simply have to wait and see what will actually happen in the following months.
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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…