Here Are Today’s ICO Winners: Status (SNT) and Coindash (CDT) - Global Coin Report
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Here Are Today’s ICO Winners: Status (SNT) and Coindash (CDT)

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Here at Global Coin Report, we like to take a look at some of the biggest movers in the ICO space on a daily basis in an attempt to try and highlight any near-term opportunities for our shorter-term cryptocurrency trading readers.

In line with this, here is a look at two of the biggest gainers in the space over the last 24 hours with a discussion of what’s moving each and where we expect the coins in question to go near term.

The two coins we are focusing on today are Status (SNT) and Coindash (CDT).

First up, then, Status.

This one is a pretty interesting one. The company designed itself as an open source messenger service built on the Ethereum platform as a decentralized application (Dapp) and, subsequent to its creation, launched an initial coin offering (ICO) that saw it target a total raise of 300,000 ETH. However, due to a huge influx of unexpected buying activity, the Ethereum network essentially collapsed at the point at which 1.68 billion SNT tokens had been issued and the collapse now is looked back on as one of the first major tests (and, subsequently, failures) of the Ethereum network and software.

Things have been resolved since then, however, and Status has grown into what is now regarded as a relatively stable and well-positioned entity, with an alpha release in place that’s working towards a beta and public release near term.

So what’s driving the action at the moment?

The company just updated markets as to the progress of its development as per this release and progress looks strong. This is one of a number of companies in this space developing on an open-source basis and it’s this approach that has allowed it to progress in a completely transparent way – something that is rare for these sorts of decentralized application efforts, especially those that formed part of the major ICO wave earlier this year.

So what’s next?

The token is currently trading for an 80% premium to its price just 24 hours ago and a close to 100% premium on its price this time last week. We may see a near-term correction as the short-term operators pull profits off the table but, moving forward, we expect this coin will continue to appreciate as development matures towards beta.

Moving on, Coindash.

This one is famous for a botched ICO as well but in a very different way. At the time of the company’s token issue, a hacker managed to change the Ethereum address to which participants were supposed to send ETH (and, in return, to receive CDT tokens) and this led to more than $10 million in ETH being transferred to the false address.

Coindash was able to claw back some degree of credibility after it announced that it would issue CDT to all those who sent ETH to the wrong address (prior to the shutting down of its website) but the issue remains something of a sore point for the community and it has weighed on sentiment over the last three or four months subsequent to the event.

This week, however, markets seem to be turning around somewhat and CDT is trading for a 35% premium on its 24-hour pricing and is currently up nearly 71% on its ICO price.

So what’s driving the latest run?

This company bills itself as an operating system for cryptocurrency assets, which exposes it to any ups and downs in the underlying majors – BTC, ETH and LTC. With BTC currently up way above $10,000 right now, having broken this level last night, CDT is riding high on this key resistance level toppling.

So long as BTC remains above $10,000, we expect this one will continue to gain strength. If BTC falls back below this level, however, we may see a near-term correction on the recent run.

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

Image courtesy of waferboard via Flickr

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Bitcoin

The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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