Ethos (ETHOS) Is Running On A Smart And Well Executed Rebranding

Ethos (ETHOS) gained just short of 50% on the USD over the last twenty-four hours and the coin now trades for a market capitalization in excess of $690 million. Twenty-four-hour volume peaked and hit fresh all-time highs at just shy of $34.5 million and price, right now, sits at $9.15, up close to 600% on the token’s mid-December pricing.

Ethos Daily Chart

So what’s going on?

Let’s try and figure that out.

For anyone new to this coin, it’s worth starting off with a bit of background. Indeed, in some ways, this is a brand new coin while, in others, not so much. What do we mean by this? Well, Ethos is a new name, a rebranding of an older coin (and company) called Bitquence, which was previously denominated as BQX. As per this post by the company’s CEO Shingo Lavine back in November, Bitquence rebranded to Ethos for a couple of reasons but, primarily, because the company wanted to position itself as a mainstream player and the name Ethos more accurately reflects this positioning.

So that makes sense, but what’s the company and it’s token all about, rebranding aside?

Ethos bills itself as a universal wallet meets super-powered digital currency dashboard meets social network.

That sounds like a pretty wide spectrum of services but the company has actually done a pretty nice job of bringing everything together. Basically, it’s developed a multi-token wallet (so, a single wallet that you can keep a whole host of different cryptocoins in at the same time) and it’s linked this wallet to a cold storage facility and a liquidity network, which allows users to deposit, withdraw, send or exchange any of their crypto assets instantly with maximum liquidity.

There’s also a crowd-driven element to the wallet, which allows for community consensus features, ratings and reviews, social insights, all that sort of thing, with the goal being for this side of the platform to allow Ethos wallet holders to pick up investment info and to subsequently use the platforms instant-split diversification feature to spread risk (or chase reward) across a basket of cryptos – again all in the same wallet.

That’s the background, then, but what’s driving the recent rise in market capitalization?

This one’s all about exposure. A solid and steady stream of communication with both token holders (so, those with a vested interest in growth) and with the wider industry (so, those who might be looking to take a position in the future) is incredibly important right now in this space and this is something that Ethos, since its rebranding, has been great at.

The company regularly puts its team members in front of interviewers, holds q&a sessions and published in-depth development and operational advance reports across a host of different social outlets.

This has translated not just to a strong level of awareness regarding what Ethos is trying to achieve but also – and this is just as important, if not more so – a strong degree of confidence that the company can achieve its goals.

As such, when traders and investors are looking for potential allocations, and they are being presented with the choice between this coin and another, they are choosing Ethos.

So what’s next – can this run continue?

We think it can. The rebranding looks to have been incredibly successful and it has served as a platform from which the company can really start to leverage its strong points and move forward into what could be a great 2018.

Keep in mind that we might see a small correction on the current run (5-10% or so) as the shorter term operators pull profits off the table but – at the same time – any dip might be a nice opportunity to pick up some cheap coins ahead of an overarching return to the upside momentum.

We’ll be watching this one closely moving forward.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Ethos.