Things are now underway for a fresh week of token trading it looks as though we are in for a pretty volatile time in the markets. A number of tokens moved considerably over the weekend and we are expecting a continuation of this volatility as the US markets open for a fresh session on Monday.
With this in mind, here is a look at two of the most active tokens from the last 24 hours and a discussion as to what we feel is behind the action and what to expect next from each.
The two tokens in focus are Incent and Blockchain Capital.
First up, then, Incent.
Many reading will likely already be familiar with this token but for those that aren’t, it’s an incentivized blockchain system through which companies can setup their own reward card type program and offer customers awards based on activity and volume. The ICO happened towards the end of last year and was successful in the sense that it brought in enough capital for Incent to get its platform off the ground and activity since then has been pretty strong.
Over the last 24 hours, Incent’s token is up more than 71%. Extend this time frame to the last week and the number rises to 91%. From its ICO at $0.043, Incent currently trades for $0.282 – a more than 550% increase in around 12 months.
So what is driving the action?
Towards the end of last week, Incent published some of its activity metrics through its social media platform and it looks as though markets are viewing these metrics as favorable and, in turn, are buying up the Incent token in anticipation of near-term business growth.
The company reported that its Waves platform has reached 8 million processed transactions since inception and is doing more than 100,000 transactions daily. Additionally, Incent’s new mobile platform is up and running and this has translated to an improved sentiment surrounding the company and its token.
As far as where things go from here is concerned, we expect Incent to continue to appreciate during the final six or so weeks of this year, especially if the company can maintain its metric growth and (at the same time) raise awareness as to said growth in much the same way it has been able to do over the last few days.
Moving on, let’s look at Blockchain Capital.
This one is a pretty interesting one. The company bills itself as the first digital liquid venture fund and it is essentially a venture capital firm that’s set up to invest in bitcoin and blockchain related technology.
Over the last 24 hours, Blockchain Capital picked up a 59% upside reevaluation, building on the 31% recorded since last week. At its current pricing, Blockchain Capital’s token (called BCAP) trades for $1.23 apiece, up 23% on the token’s $1 ICO price.
Just as with any other venture capital firm, the way this one works is people invest in the company through the purchasing of tokens (as compared to buying shares or holding fiat with the fund, as might be the case in a more traditional VC entity) and the return comes on the back of the funds successful allocation towards startup blockchain companies.
Again, then, what’s causing this one to run right now?
We think the latest move is rooted primarily in the increase in price we have seen in bitcoin over the last few days. This is a company that invests in bitcoin and blockchain entities and, with the bitcoin price being the bellwether for space, the fact that we are seeing all-time highs is suggestive of a strong operational model for Blockchain Capital. Going forward, then, so long as bitcoin continues to rise in price, so should this token.
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ur welcome pic.twitter.com/e2KF57KLxb
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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